CARMAX AUTO FUNDING LLC 8-K

What Happened

• CarMax Auto Funding LLC (the Depositor), with CarMax Business Services, LLC (the servicer), filed an 8‑K reporting an Underwriting Agreement dated June 9, 2026 with Wells Fargo Securities, LLC as representative of the underwriters. The underwriters have agreed to purchase $569,997,000 aggregate principal balance of asset‑backed notes to be issued by CarMax Select Receivables Trust 2026‑B. The offering is registered under a Form SF‑3 registration statement (File No. 333‑288943). The notes are expected to be issued on or about June 16, 2026.

Key Details

• Underwriting Agreement date: June 9, 2026; underwriter representative: Wells Fargo Securities, LLC.
• Aggregate underwritten purchase amount: $569,997,000.
• Note classes and stated principal amounts in the prospectus:
  • Class A‑1: $90,000,000
  • Class A‑2: $170,285,000
  • Class A‑3: $170,285,000
  • Class B: $40,410,000
  • Class C: $55,960,000
  • Class D: $48,190,000
  • Class E (not publicly offered): $24,870,000
• At least 5% of each class (the “Retained Notes”) will be retained by the registrant (CarMax Auto Funding LLC).
• Related transaction documents (trust agreements, receivables purchase and contribution agreements, sale and servicing agreement, indenture, administration and securities control agreements) are to be entered on the issuance date; legal opinions and the CEO certification are included as exhibits.

Why It Matters

• This filing documents a securitization of retail auto installment contracts originated or serviced by CarMax Business Services. The offering provides CarMax Auto Funding LLC (and indirectly CarMax) with funding and liquidity by converting loan receivables into marketable asset‑backed notes.
• Investors should note the size (~$570M), the mix of rated note classes, the registrant’s retention of at least 5% of each class (which keeps some on‑balance‑sheet exposure), and the expected issuance timing (around June 16, 2026). These facts affect funding costs and credit exposure but do not by themselves change CarMax’s operating results disclosed elsewhere.