Credit standards · Auto loan credit standards
CARMAX SELECT RECEIVABLES TRUST
Summary statistics computed from the Form ABS-EE asset-level file for this shelf, filed 2026-08-17. 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.
1,640 loans analysed, sampled systematically (every 20th record) from 32,815 records. CIK 2025329. Source filing.
Distributions
| Measure | 5th | 25th | Median | 75th | 95th |
|---|---|---|---|---|---|
| Credit score | 528 | 576 | 608 | 632 | 649 |
| APR | 9.4% | 13.7% | 15.9% | 17.7% | 21.0% |
| Payment-to-income | 2.9% | 5.9% | 8.8% | 13.4% | 22.0% |
| Term (months) | 60 | 66 | 72 | 72 | 73 |
| Loan-to-value | 63.6% | 96.1% | 106.1% | 113.7% | 125.1% |
| Vehicle model year | 2013 | 2016 | 2018 | 2020 | 2022 |
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 |
|---|---|---|---|---|
| deep subprime | 300-500 | 33 | 2.0% | 23.5% |
| subprime | 501-600 | 640 | 39.0% | 16.4% |
| near prime | 601-660 | 837 | 51.0% | 14.9% |
| prime | 661-780 | 45 | 2.7% | 15.4% |
| super prime | 781-900 | 1 | 0.1% | 10.2% |
Pool composition
- Originators: CBS (1,640)
- Used vehicles: 100.0%
- Co-obligor present: 28.5%
- Zero-APR loans: 0.0%
- States present: 46
- Top states: CA (259), TX (249), FL (140), GA (134), NC (78), TN (66), VA (64), MD (52)
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.