Credit standards · Auto loan credit standards
CARMAX AUTO OWNER 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.
3,537 loans analysed, sampled systematically (every 20th record) from 70,744 records. CIK 1934479. Source filing.
Distributions
| Measure | 5th | 25th | Median | 75th | 95th |
|---|---|---|---|---|---|
| Credit score | 586 | 649 | 709 | 773 | 844 |
| APR | 2.9% | 4.5% | 7.4% | 10.4% | 14.9% |
| Payment-to-income | 2.0% | 4.3% | 7.0% | 11.1% | 19.9% |
| Term (months) | 60 | 61 | 66 | 72 | 73 |
| Loan-to-value | 50.2% | 80.6% | 96.6% | 107.2% | 120.4% |
| Vehicle model year | 2012 | 2015 | 2017 | 2019 | 2021 |
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 |
|---|---|---|---|---|
| subprime | 501-600 | 288 | 8.1% | 12.4% |
| near prime | 601-660 | 743 | 21.0% | 10.9% |
| prime | 661-780 | 1,665 | 47.1% | 7.4% |
| super prime | 781-900 | 796 | 22.5% | 4.0% |
Pool composition
- Originators: CBS (3,537)
- Used vehicles: 99.9%
- Co-obligor present: 29.3%
- Zero-APR loans: 0.0%
- States present: 52
- Top states: CA (616), TX (428), FL (299), GA (244), NC (186), VA (168), IL (148), MD (132)
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.