Credit standards · Auto loan credit standards
CARMAX AUTO FUNDING LLC
Summary statistics computed from the Form ABS-EE asset-level file for this shelf, filed 2026-07-07. Regulation AB II requires this loan-level data for registered public auto-loan securitizations, so every figure below is a statement about a named, dated SEC filing — not about a company.
2,931 loans analysed, sampled systematically (every 20th record) from 58,639 records. CIK 1259380. Source filing.
Distributions
| Measure | 5th | 25th | Median | 75th | 95th |
|---|---|---|---|---|---|
| Credit score | 660 | 706 | 759 | 810 | 860 |
| APR | 2.9% | 5.5% | 6.8% | 9.2% | 15.4% |
| Payment-to-income | 1.7% | 3.4% | 5.5% | 8.6% | 16.6% |
| Term (months) | 60 | 61 | 67 | 72 | 75 |
| Loan-to-value | 45.8% | 74.5% | 92.2% | 105.4% | 120.3% |
| Vehicle model year | 2015 | 2018 | 2020 | 2023 | 2025 |
LTV is not comparable across shelves for this filing: the vehicle value source is filer-specific (codes 98), and the code meanings are not asserted here.
By credit score band
| Band | Range | Loans | Share | Median APR |
|---|---|---|---|---|
| near prime | 601-660 | 148 | 5.0% | 10.9% |
| prime | 661-780 | 1,629 | 55.6% | 8.1% |
| super prime | 781-900 | 1,150 | 39.2% | 5.5% |
Pool composition
- Originators: CBS (2,931)
- Used vehicles: 100.0%
- Co-obligor present: 30.6%
- Zero-APR loans: 0.0%
- States present: 46
- Top states: CA (541), TX (323), FL (207), VA (181), GA (167), TN (147), IL (134), NC (130)
What this is not
Not underwriting guidelines. Not a comparison of lenders. Not a description of any lender's programs or current practices. Each row describes one securitized pool, as reported in one filing, on one date - a sponsor-selected subset of what an originator funded. Issuers securitizing privately under Rule 144A file no asset-level data and are absent by construction.
Income and employment verification appear in the file only as raw Schedule AL codes (2, 3 and 2). Their meanings are not asserted here — the filer's codebook is the only authority for what a code means, and this shelf published none.
underwritingIndicator is recorded upstream but omitted here: filers apply it inconsistently and it cannot be read as an exception rate. Verification codes are raw and are not comparable across filers. LTV carries a per-shelf comparability flag.
Method: how these figures are computed. Data generated 2026-08-25 from the filing above.