CarMax Auto Owner Trust 2026-2 prices $1.175B auto loan ABS with eight tranches

CARMAX AUTO FUNDING LLC

CarMax Auto Owner Trust 2026-2 issues $1.175B in asset-backed notes across eight classes.
Underwriting agreement signed with RBC Capital Markets; notes expected to close April 29, 2026.
Classes: A-1 ($209M), A-2a ($343M), A-2b ($75M), A-3 ($418M), A-4 ($74M), B ($23M), C ($20M), D ($12M).
Proceeds used to purchase auto receivables from CarMax Business Services; CarMax will service the pool.
Standard securitization structure with indenture, trust agreement, and other transaction documents.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CARMAX AUTO FUNDING LLC entered into Underwriting Agreement with RBC Capital Markets, LLC, as representative of the several underwriters valued at $1,175,000,000 (effective 2026-04-21).

Action: entry
Agreement: underwriting
Counterparty: RBC Capital Markets, LLC, as representative of the several underwriters
Value: $1,175,000,000
Effective: 2026-04-21

Exact text from the filing

On April 21, 2026, CarMax Business Services, LLC (“CarMax Business Services”) and CarMax Auto Funding LLC (the “Depositor”) entered into an Underwriting Agreement with RBC Capital Markets, LLC, as representative of the several underwriters named therein (collectively, the “Underwriters”), whereby each of the Underwriters has severally agreed to purchase $1,175,000,000 aggregate principal balance of various classes of Asset-backed Notes to be issued by CarMax Auto Owner Trust 2026-2

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Source: SEC EDGAR

accession 0001193125-26-173263

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