CarMax Auto Owner Trust 2024-1

11/15/2024 | Press release | Distributed by Public on 11/15/2024 12:42

Asset Backed Issuer Distribution Report Form 10 D


MONTHLY SERVICER'S CERTIFICATE
CARMAX BUSINESS SERVICES, LLC
CARMAX AUTO OWNER TRUST
SERIES 2024-1
Collection Period 10/01/24-10/31/24
Determination Date 11/12/2024
Distribution Date 11/15/2024
Additional information, including defined terms, can be found in the prospectus on the SEC's EDGAR system (http://www.sec.gov) under File No. 333-260819-09.



Pool Balance
1. Pool Balance on the close of the last day of the preceding Collection Period $ 1,159,429,355.28
2. Collections allocable to Principal $ 38,439,497.93
3. Purchase Amount allocable to Principal $ 0.00
4. Defaulted Receivables $ 2,524,478.21
5. Pool Balance on the close of the last day of the related Collection Period $ 1,118,465,379.14
(Ln1 - Ln2 - Ln3 - Ln4)
6. Total number of Receivables outstanding on the close of the last day of the related Collection Period 62,533
7. Initial Pool Balance $ 1,565,657,067.52
Beginning of Period End of Period
8. Note Balances
a. Class A-1 Note Balance
$ 0.00 $ 0.00
b. Class A-2a Note Balance $ 249,264,537.04 $ 225,604,874.26
c. Class A-2b Floating Rate Note Balance $ 182,308,247.56 $ 165,003,934.20
d. Class A-3 Note Balance $ 500,320,000.00 $ 500,320,000.00
e. Class A-4 Note Balance $ 86,680,000.00 $ 86,680,000.00
f. Class B Note Balance $ 46,900,000.00 $ 46,900,000.00
g. Class C Note Balance $ 44,600,000.00 $ 44,600,000.00
h. Class D Note Balance $ 33,700,000.00 $ 33,700,000.00
i. Note Balance (sum a - h) $ 1,143,772,784.60 $ 1,102,808,808.46
9. Pool Factors
a. Class A-1 Note Pool Factor 0.0000000 0.0000000
b. Class A-2a Note Pool Factor 0.7669678 0.6941688
c. Class A-2b Floating Rate Note Pool Factor 0.7669678 0.6941688
d. Class A-3 Note Pool Factor 1.0000000 1.0000000
e. Class A-4 Note Pool Factor 1.0000000 1.0000000
f. Class B Note Pool Factor 1.0000000 1.0000000
g. Class C Note Pool Factor 1.0000000 1.0000000
h. Class D Note Pool Factor 1.0000000 1.0000000
i. Note Pool Factor 0.7379179 0.7114896
10. Overcollateralization Target Amount $ 15,656,571
11. Current overcollateralization amount (Pool Balance - Note Balance) $ 15,656,571
12. Weighted Average Coupon 11.09 %
13. Weighted Average Original Term months 65.51
14. Weighted Average Remaining Term months 49.94
15. 30 day Average SOFR for the accrual period ending 11/14/2024 5.00981 %
16. Note Rate applicable to the Class A-2b notes for the interest period ending 11/14/2024 5.62981 %
Collections
17. Finance Charges:
a. Collections allocable to Finance Charge $ 10,641,842.64
b. Liquidation Proceeds allocable to Finance Charge $ 1,496.21
c. Purchase Amount allocable to Finance Charge $ 0.00
d. Available Finance Charge Collections (sum a - c) $ 10,643,338.85
18. Principal:
a. Collections allocable to Principal $ 38,439,497.93
b. Liquidation Proceeds allocable to Principal $ 939,362.29
c. Purchase Amount allocable to Principal $ 0.00
d. Available Principal Collections (sum a - c) $ 39,378,860.22
19. Total Finance Charge and Principal Collections (17d + 18d) $ 50,022,199.07
20. Interest Income from Collection Account $ 151,346.85
21. Simple Interest Advances $ 0.00
22. Available Collections (Ln19 + 20 + 21) $ 50,173,545.92


Available Funds
23. Available Collections $ 50,173,545.92
24. Reserve Account Draw Amount $ 0.00
25. Available Funds $ 50,173,545.92
Application of Available Funds
26. Servicing Fee 0.15 %
a. Monthly Servicing Fee $ 966,191.13
b. Amount Unpaid from Prior Months $ 0.00
c. Amount Paid $ 966,191.13
d. Shortfall Amount (a + b - c) $ 0.00
27. Unreimbursed Servicer Advances $ 0.00
28. Successor Servicer and Asset Representations Reviewer Unpaid Expenses and Indemnity Amounts
a. Successor Servicer Unpaid Transition Expenses and Indemnity Amounts (Capped at $175,000 annually) $ 0.00
b. Successor Servicer Amount Paid $ 0.00
c. Successor Servicer Shortfall Amount (a - b) $ 0.00
d. Asset Representations Reviewer Fees, Expenses and Indemnity Amounts (Capped at $175,000 annually) $ 0.00
e. Asset Representations Reviewer Amount Paid $ 0.00
f. Asset Representations Reviewer Shortfall Amount (d - e) $ 0.00
29. Class A Noteholder Interest Amounts
a. Class A-1 Monthly Interest $ 0.00
b. Additional Note Interest related to Class A-1 Monthly Interest $ 0.00
c. Interest Due on Additional Note Interest related to Class A-1 Monthly Interest $ 0.00
d. Total Class A-1 Note Interest (sum a - c) $ 0.00
e. Class A-2a Monthly Interest $ 1,100,918.37
f. Additional Note Interest related to Class A-2a Monthly Interest $ 0.00
g. Interest Due on Additional Note Interest related to Class A-2a Monthly Interest $ 0.00
h. Total Class A-2a Note Interest (sum e - g) $ 1,100,918.37
i. Class A-2b Monthly Interest $ 883,810.68
j. Additional Note Interest related to Class A-2b Monthly Interest $ 0.00
k. Interest Due on Additional Note Interest related to Class A-2b Monthly Interest $ 0.00
l. Total Class A-2b Note Interest (sum i - k) $ 883,810.68
m. Class A-3 Monthly Interest $ 2,051,312.00
n. Additional Note Interest related to Class A-3 Monthly Interest $ 0.00
o. Interest Due on Additional Note Interest related to Class A-3 Monthly Interest $ 0.00
p. Total Class A-3 Note Interest (sum m - o) $ 2,051,312.00
q. Class A-4 Monthly Interest $ 356,832.67
r. Additional Note Interest related to Class A-4 Monthly Interest $ 0.00
r. Additional Note Interest related to Class A-4 Monthly Interest $ 0.00
t. Total Class A-4 Note Interest (sum q - s) $ 356,832.67
30. Priority Principal Distributable Amount $ 0.00
31. Class B Noteholder Interest Amount
a. Class B Monthly Interest $ 202,060.83
b. Additional Note Interest related to Class B Monthly Interest $ 0.00
c. Interest Due on Additional Note Interest related to Class B Monthly Interest $ 0.00
d. Total Class B Note Interest (sum a - c) $ 202,060.83
32. Secondary Principal Distributable Amount $ 0.00
33. Class C Noteholder Interest Amount
a. Class C Monthly Interest $ 203,301.67
b. Additional Note Interest related to Class C Monthly Interest $ 0.00
c. Interest Due on Additional Note Interest related to Class C Monthly Interest $ 0.00
d. Total Class C Note Interest (sum a - c) $ 203,301.67
34. Tertiary Principal Distributable Amount $ 0.00
35. Class D Noteholder Interest Amount
a. Class D Monthly Interest $ 168,500.00
b. Additional Note Interest related to Class D Monthly Interest $ 0.00
c. Interest Due on Additional Note Interest related to Class D Monthly Interest $ 0.00
d. Total Class D Note Interest (sum a - c) $ 168,500.00


36. Quaternary Principal Distributable Amount $ 25,307,405.46
37. Required Payment Amount (Ln 26 + Ln 28 + (sum of Ln 29 through Ln 36)) $ 31,240,332.81
38. Reserve Account Deficiency $ 0.00
39. Regular Principal Distributable Amount $ 15,656,570.68
40. Remaining Unpaid Servicer Transition Expenses and Additional Servicing Fees, if any $ 0.00
41. Remaining Unpaid Trustee and Asset Representations Reviewer Fees, Expenses and Indemnity Amounts, if any
a. Remaining Unpaid Trustee Fees, Expenses and Indemnity Amounts $ 0.00
b. Remaining Unpaid Asset Representations Reviewer Fees, Expenses and Indemnity Amounts $ 0.00
42. Remaining Unpaid Successor Servicer Indemnity Amounts, if any $ 0.00
Collection Account Activity 0.15 %
43. Deposits
a. Total Daily Deposits of Finance Charge Collections $ 10,643,338.85
b. Total Daily Deposits of Principal Collections $ 39,378,860.22
c. Withdrawal from Reserve Account $ 0.00
d. Interest Income $ 151,346.85
e. Total Deposits to Collection Account (sum a - d) $ 50,173,545.92
44. Withdrawals
a. Servicing Fee and Unreimbursed Servicer Advances $ 966,191.13
b. Successor Servicer Transition Expenses and Indemnity Amounts $ 0.00
c. Deposit to Note Payment Account for Monthly Note Interest/Principal $ 45,930,712.36
d. Deposit to Reserve Account $ 0.00
e. Excess Collections (Deposit to Certificate Payment Account for payment to Certificateholder) $ 3,276,642.43
f. Total Withdrawals from Collection Account (sum a - e) $ 50,173,545.92
Note Payment Account Activity
45. Deposits
a. Class A-1 Interest Distribution $ 0.00
b. Class A-2a Interest Distribution $ 1,100,918.37
c. Class A-2b Interest Distribution $ 883,810.68
d. Class A-3 Interest Distribution $ 2,051,312.00
e. Class A-4 Interest Distribution $ 356,832.67
f. Class B Interest Distribution $ 202,060.83
g. Class C Interest Distribution $ 203,301.67
h. Class D Interest Distribution $ 168,500.00
i. Class A-1 Principal Distribution $ 0.00
j. Class A-2a Principal Distribution $ 23,659,662.78
k. Class A-2b Principal Distribution $ 17,304,313.36
l. Class A-3 Principal Distribution $ 0.00
m. Class A-4 Principal Distribution $ 0.00
n. Class B Principal Distribution $ 0.00
o. Class C Principal Distribution $ 0.00
p. Class D Principal Distribution $ 0.00
q. Total Deposits to Note Payment Account (sum a - p) $ 45,930,712.36
46. Withdrawals
a. Class A-1 Distribution $ 0.00
b. Class A-2a Distribution $ 24,760,581.15
c. Class A-2b Distribution $ 18,188,124.04
d. Class A-3 Distribution $ 2,051,312.00
e. Class A-4 Distribution $ 356,832.67
f. Class B Distribution $ 202,060.83
g. Class C Distribution $ 203,301.67
h. Class D Distribution $ 168,500.00
i. Total Withdrawals from Note Payment Account (sum a - h) $ 45,930,712.36


Certificate Payment Account Activity
47. Deposits to Certificate Payment Account from Excess Collections $ 3,276,642.43
48. Withdrawals from Certificate Payment Account for Certificateholder Distribution $ 3,276,642.43
Required Reserve Account Amount 0.15 %
49. Required Reserve Account Amount (1.00% of Initial Pool Balance) $ 3,914,142.67
Reserve Account Reconciliation
50. Beginning Balance (as of end of preceding Distribution Date) $ 3,914,142.67
51. Investment Earnings $ 15,805.43
52. Reserve Account Draw Amount $ 0.00
53. Reserve Account Amount (Ln 50 + Ln 51 - Ln 52) $ 3,929,948.10
54. Deposit from Available Funds (Ln 44d) $ 0.00
55. If Reserve Account Balance exceeds Required Reserve Account Amount, payment to
a. the Note Payment Account for the payment of principal to the extent of any unfunded Regular Principal Distribution Amount; and $ 0.00
b. any Successor Servicer for the payment of any unfunded Transition Costs and Additional Servicing Fee $ 0.00
56. Payment to Depositor if Reserve Account Balance exceeds Required Reserve Account Amount and to the extent no unfunded amounts described in Ln 55 exist $ 15,805.43
57. Ending Balance (Ln53 + Ln54 - Ln55 - Ln56) $ 3,914,142.67
58. Reserve Account Deficiency (Ln50 - Ln57) $ 0.00
Instructions to the Trustee
59. Amount to be deposited from the Reserve Account into the Collection Account $ 0.00
60. Amount to be paid to Servicer from the Collection Account $ 966,191.13
61. Amount to be deposited from the Collection Account into the Note Payment Account $ 45,930,712.36
62. Amount to be deposited from the Collection Account into the Certificate Payment Account $ 3,276,642.43
63. Amount to be deposited from the Collection Account into the Reserve Account $ 0.00
64. Amount to be deposited from the Reserve Account, if Reserve Account Balance exceeds Required Reserve Account Amount, into
a. the Note Payment Account for any unfunded Regular Principal Distributable Amount $ 0.00
b. the Depositor, if no unfunded Regular Principal distributable amount exists $ 15,805.43
65. Amount to be paid to Class A-1 Noteholders from the Note Payment Account $ 0.00
66. Amount to be paid to Class A-2a Noteholders from the Note Payment Account $ 24,760,581.15
67. Amount to be paid to Class A-2b Noteholders from the Note Payment Account $ 18,188,124.04
68. Amount to be paid to Class A-3 Noteholders from the Note Payment Account $ 2,051,312.00
69. Amount to be paid to Class A-4 Noteholders from the Note Payment Account $ 356,832.67
70. Amount to be paid to Class B Noteholders from the Note Payment Account $ 202,060.83
71. Amount to be paid to Class C Noteholders from the Note Payment Account $ 203,301.67
72. Amount to be paid to Class D Noteholders from the Note Payment Account $ 168,500.00
73. Amount to be paid to Certificateholders from the Certificate Payment Account with respect to Excess Collections $ 3,276,642.43


Delinquency Activity
Number of Loans Principal Balance
74. Delinquency Analysis
a. 31 to 60 days past due 1,145 $ 25,304,437.43
b. 61 to 90 days past due 436 $ 9,493,620.55
c. 91 to 120 days past due 151 $ 2,992,661.57
d. 121 or more days past due 0 $ 0.00
e. Total Past Due (sum a - d) 1,732 $ 37,790,719.55
f. Delinquent Loans as a percentage of end of period Pool Balance (Ln 74e / Ln 5) 3.3788 %
75. Has a Delinquency Trigger Event occurred? No
Loss Activity
Number of Loans Principal Balance
76. Defaulted Receivables (charge-offs) 126 $ 2,524,478.21
77. Recoveries 144 $ 940,858.50
78. Net Losses (Ln 76 - Ln 77) $ 1,583,619.71
79. Ratio of Net Losses to Beginning of Period Pool Balance (Ln 78 / Ln 1) 0.1366 %
Cumulative Loss Activity
Number of Loans Principal Balance
80. Defaulted Receivables (charge-offs) 818 $ 18,784,051.42
81. Recoveries 564 $ 6,275,577.93
82. Cumulative Net Losses (Ln 80 - Ln 81) $ 12,508,473.49
83. Ratio of Cumulative Net Losses to Initial Pool Balance (Ln 82 / Ln 7) 0.7989 %
84. Average Net Loss on Defaulted Receivables $ 15,291.53
Other Servicing Information
85. Principal Balance of Receivables extended during the Collection Period $ 19,471,381.64
86. Pool Balance on the close of the last day of the preceding Collection Period $ 1,159,429,355.28
87. Ratio of extensions to pool balance (Ln 85 / Ln 86) 1.68 %



IN WITNESS WHEREOF, the undersigned has duly executed this certificate on November 12, 2024
CARMAX BUSINESS SERVICES, LLC
As Servicer
By: /s/ Greg Dostich
Name: Greg Dostich
Title: Vice President and Treasurer