# CarMax Auto Owner Trust 2026-3 — divestiture [completed]
Source: SEC API (secapi.ai) · situation sit_3aa416107bec53051b79 · retrieved 2026-08-11T16:14:19.071Z

## Overview
CarMax Auto Owner Trust 2026-3 is a Delaware statutory trust that issues asset-backed securities backed by motor vehicle retail installment sale contracts originated by CarMax Business Services, LLC.

On July 14, 2026, CarMax Business Services, LLC and CarMax Auto Funding LLC entered into an underwriting agreement with Scotia Capital (USA) Inc. and other underwriters to purchase $1,333,123,000 aggregate principal balance of asset-backed notes in seven classes to be issued by CarMax Auto Owner Trust 2026-3. The notes consist of $297,800,000 Class A-1 Notes at 3.964%, $451,730,000 Class A-2 Notes at 4.36%, $451,730,000 Class A-3 Notes at 4.60%, $81,750,000 Class A-4 Notes at 4.67%, $23,680,000 Class B Notes at 4.87%, $25,710,000 Class C Notes at 5.00%, and $17,600,000 Class D Notes at 5.36%. The notes are secured by a pool of motor vehicle retail installment sale contracts. Issuance is anticipated on or about July 22, 2026.

## Terms
- Counterparty: Scotia Capital (USA) Inc. and other underwriters · Deal value: $1.33B · Consideration: cash

## Key dates
- Expected close 2026-07-22 · Completed 2026-07-16

## Timeline
- 2026-07-16 · 8-K (0001193125-26-305930): 8-K - CarMax Auto Owner Trust 2026-3 — *CarMax Auto Owner Trust 2026-3 is a Delaware statutory trust that issues asset-backed securities backed by motor vehicle retail installment sale contracts originated by CarMax Business Services, LLC.* On July 14, 2026, CarMax Business Services, LLC and CarMax Auto Funding LLC entered into an underwriting agreement with Scotia Capital (USA) Inc. and other underwriters to purchase $1,333,123,000 aggregate principal balance of asset-backed notes in seven classes to be issued by CarMax Auto Owner Trust 2026-3. The notes consist of $297,800,000 Class A-1 Notes at 3.964%, $451,730,000 Class A-2 Notes at 4.36%, $451,730,000 Class A-3 Notes at 4.60%, $81,750,000 Class A-4 Notes at 4.67%, $23,680,000 Class B Notes at 4.87%, $25,710,000 Class C Notes at 5.00%, and $17,600,000 Class D Notes at 5.36%. The notes are secured by a pool of motor vehicle retail installment sale contracts. Issuance is anticipated on or about July 22, 2026.
  https://www.sec.gov/Archives/edgar/data/2142044/0001193125-26-305930.txt

## Citations
- 0001193125-26-305930 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526305930