Company: KMX
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001170010-25-000024
Chunk: 74

Company: CARMAX INC
Filing Date: 2025-04-11
Form: 10-K
Item: Item 7
Chunk 74
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310.3)(1.9)Total interest margin$1,090.7 6.2 $1,038.7 6.0 $1,131.2 6.9 Provision for loan losses$(334.7)(1.9)$(310.5)(1.8)$(317.0)(1.9)CarMax Auto Finance income$581.7 3.3 $568.3 3.3 $663.4 4.1 

(1)Percent of total average managed receivables.

37

CAF ORIGINATION INFORMATION (AFTER THE IMPACT OF 3-DAY PAYOFFS)

 Years Ended February 28 or 29 202520242023Net loans originated (in millions)$8,254.5 $8,270.0 $8,832.7 Vehicle units financed 336,595 328,704 340,077 Net penetration rate (1)42.7 %42.9 %42.1 %Weighted average contract rate11.3 %11.2 %9.7 %Weighted average credit score (2)723 719 708 Weighted average loan-to-value (LTV) (3)89.6 %88.7 %88.3 %Weighted average term (in months)67.6 65.4 66.0 

(1)Vehicle units financed as a percentage of total used units sold.

(2)The credit scores represent FICO® scores and reflect only receivables with obligors that have a FICO® score at the time of application.  The FICO® score with respect to any receivable with co-obligors is calculated as the average of each obligor’s FICO® score at the time of application.  FICO® scores are not a significant factor in our primary scoring model, which relies on information from credit bureaus and other application information as discussed in Note 4.  FICO® is a federally registered servicemark of Fair Isaac Corporation.

(3)LTV represents the ratio of the amount financed to the total collateral value, which is measured as the vehicle selling price plus applicable taxes, title and fees.

LOAN PERFORMANCE INFORMATION As of and for theYears Ended February 28 or 29(In millions)202520242023Total ending managed receivables$17,594.6