---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-020910"
form_type: "8-K"
ticker: null
cik: "0001259380"
company_name: "CARMAX AUTO FUNDING LLC"
filed_at: "2026-01-23T23:59:59+00:00"
generated_at: "2026-05-16T08:21:41.246823+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CarMax Auto Owner Trust 2026-1 issues $1.3B in asset-backed notes; classes A-1 through D

## Summary
- Underwriting agreement signed Jan 21, 2026 for $1.3B aggregate principal balance of asset-backed notes.
- Notes include $317M Class A-1, $250M A-2a, $170.5M A-2b, $420.5M A-3, $85.16M A-4, $26.13M B, $17.64M C, $13.07M D.
- Issuance expected on or about January 28, 2026, backed by auto receivables originated by CarMax.
- Proceeds to be used to purchase motor vehicle retail installment sale contracts; MUFG Securities Americas Inc. as underwriter representative.
- Transaction structured through special-purpose trust with various servicer, trustee, and control agreements.

## SEC filing metadata
- accession: 0001193125-26-020910
- form_type: 8-K
- cik: 0001259380
- company_name: CARMAX AUTO FUNDING LLC
- filed_at: 2026-01-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1259380/000119312526020910/0001193125-26-020910-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1259380/000119312526020910/d39053d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-020910
- JSON: https://secwatch.observer/filing/0001193125-26-020910.json
- Plain text: https://secwatch.observer/filing/0001193125-26-020910.txt

## Key facts
- Material Agreements
  CARMAX AUTO FUNDING LLC entered into Underwriting Agreement with MUFG Securities Americas Inc., as representative of the several underwriters named therein valued at $1,300,000,000 aggregate principal balance (effective 2026-01-21).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: MUFG Securities Americas Inc., as representative of the several underwriters named therein
  - Value: $1,300,000,000 aggregate principal balance
  - Effective: 2026-01-21
  source text: On January 21, 2026, CarMax Business Services, LLC (“CarMax Business Services”) and CarMax Auto Funding LLC (the “Depositor”) entered into an Underwriting Agreement with MUFG Securities Americas Inc., as representative of the several underwriters named therein (collectively, the “Underwriters”), whereby each of the Underwriters has severally agreed to purchase $1,300,000,000 aggregate principal balance of various classes of Asset-backed Notes to be issued by CarMax Auto Owner Trust 2026-1 (the “Issuing Entity”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1259380/000119312526020910/0001193125-26-020910-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.