# EDGAR Filing Document

**Accession Number:** 0001788503
**File Stem:** 0001788503-23-000015
**Filing Date:** 2023-3
**Character Count:** 24422
**Document Hash:** b7843991c52e59b102ca800d06f6e0c3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001788503-23-000015.hdr.sgml**: 20230315

**ACCESSION NUMBER**: 0001788503-23-000015

**CONFORMED SUBMISSION TYPE**: 10-D

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230228

**FILED AS OF DATE**: 20230315

**DATE AS OF CHANGE**: 20230315

**ABS ASSET CLASS**: Auto loans

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CarMax Auto Owner Trust 2019-4
- **CENTRAL INDEX KEY:** 0001788503
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 367736029
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-228379-04
- **FILM NUMBER:** 23734808

**BUSINESS ADDRESS:**
- **STREET 1:** 12800 TUCKAHOE CREEK PARKWAY
- **STREET 2:** SUITE 400
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23238
- **BUSINESS PHONE:** (804) 935-4512

**MAIL ADDRESS:**
- **STREET 1:** 12800 TUCKAHOE CREEK PARKWAY
- **STREET 2:** SUITE 400
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23238

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-D**

**ASSET-BACKED ISSUER**

**DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

**For the monthly distribution period from February 1, 2023 to February 28, 2023** 

**Commission File Number of issuing entity: 333-228379-04**

**Central Index Key Number of issuing entity: 0001788503**

**CarMax Auto Owner Trust 2019-4**

**(Exact name of issuing entity as specified in its charter)**

**Commission File Number of depositor: 333-228379**

**Central Index Key Number of depositor: 0001259380**

**CarMax Auto Funding LLC**

**(Exact name of depositor as specified in its charter)**

**Central Index Key Number of sponsor (if applicable): 0001601902**

**CarMax Business Services, LLC**

**(Exact name of sponsor as specified in its charter)**

**Andrew J. McMonigle, Vice President and Treasurer, (804) 935-4512**

**(Name and telephone number, including area code, of the person to contact in connection with this filing)**

**Delaware**

**(State or other jurisdiction of incorporation or organization of the issuing entity)**

**36-7736029**

**(I.R.S. Employer Identification No.)**

**c/o CarMax Auto Funding LLC**

**12800 Tuckahoe Creek Parkway, Suite 400, Richmond, Virginia 23238**

**(Address of principal executive offices of issuing entity) (Zip Code)**

**(804) 935-4512**

**(Telephone number, including area code)**

**Not Applicable**

**(Former name, former address, if changed since last report)**

------

Registered/reporting pursuant to (check one)

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| | | | | |
|:---|:---|:---|:---|:---|
| <u>Title of Class</u> | <u>Section 12(b)</u> | <u>Section 12(g)</u> | <u>Section 15(d)</u> | <u>Name of exchange<br>(If Section 12(b))</u> |
| Class A-1 Asset-backed Notes | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [X] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] |
| Class A-2a Asset-backed Notes | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [X] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] |
| Class A-2b Asset-backed Notes | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [X] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] |
| Class A-3 Asset-backed Notes | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [X] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] |
| Class A-4 Asset-backed Notes | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [X] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] |
| Class B Asset-backed Notes | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [X] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] |
| Class C Asset-backed Notes | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [X] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] |
| Class D Asset-backed Notes | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] | [X] | [<u>&nbsp;&nbsp;&nbsp;&nbsp;</u>] |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

**PART I – DISTRIBUTION INFORMATION**

**Item 1. Distribution and Pool Performance Information.**

Distribution and pool performance information with respect to the receivables that comprise the assets of CarMax Auto Owner Trust 2019-4 is set forth in the monthly servicer's certificate attached as Exhibit 99.1.

**Item 1A. Asset-Level Information.**

The Asset Data File and Asset Related Document, filed as Exhibits 102 and 103, respectively, to the registrant's Form ABS-EE filed on March 15, 2023 under File No. 333-228379-04 are hereby incorporated by reference into this Form 10-D.

**<u>ITEM 1121(c) OF REGULATION AB. REPURCHASES AND REPLACEMENTS</u>**

No activity to report for the Collection Period as required by Item 1121(c) of Regulation AB.

Date of Most Recent Form ABS-15G Filed Pursuant to Rule 15Ga-1: February 8, 2023.

Central Index Key (CIK) of Securitizer: 0001259380.

**PART II – OTHER INFORMATION**

**Item 10. Exhibits.**

<u>[Exhibit 99.1](a2019-4ex991031523.htm)</u> &nbsp;&nbsp;&nbsp;&nbsp;Monthly Servicer's Certificate for the collection period commencing February 1, 2023 and ending February 28, 2023

<u>[Exhibit 102](http://www.sec.gov/Archives/edgar/data/1788503/000178850323000013/cart20194.xml)</u> &nbsp;&nbsp;&nbsp;&nbsp;Asset Data File (incorporated by reference to registrant's Form ABS-EE, Registration File Number 333-228379-04, filed on March 15, 2023)

<u>[Exhibit 103](http://www.sec.gov/Archives/edgar/data/1788503/000178850323000013/exhibit103november2021.xml)</u> &nbsp;&nbsp;&nbsp;&nbsp;Asset Related Document (incorporated by reference to registrant's Form ABS-EE, Registration File Number 333-228379-04, filed on March 15, 2023)

------

<u>Signatures</u>

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | CARMAX AUTO OWNER TRUST 2019-4 | CARMAX AUTO OWNER TRUST 2019-4 |
| | | (Issuing Entity) | (Issuing Entity) |
| | | By: | CARMAX BUSINESS SERVICES, LLC, |
| | | | as Servicer |
| Date: | March 15, 2023 | By: | <u>/s/ Andrew J. McMonigle</u> |
|  |  |  | Andrew J. McMonigle |
|  |  |  | Vice President and Treasurer |

---

## Exhibit 99.1

**Exhibit 99.1**

**MONTHLY SERVICER'S CERTIFICATE**

**CARMAX BUSINESS SERVICES, LLC**

**CARMAX AUTO OWNER TRUST**

**SERIES 2019-4**

---

| | |
|:---|:---|
| **Collection Period** | **02/01/23-02/28/23** |
| **Determination Date** | **3/9/2023** |
| **Distribution Date** | **3/15/2023** |
| Additional information, including defined terms, can be found in the prospectus on the SEC's EDGAR system (http://www.sec.gov) under File No. 333-228379-04. | Additional information, including defined terms, can be found in the prospectus on the SEC's EDGAR system (http://www.sec.gov) under File No. 333-228379-04. |

---

------

---

| | | |
|:---|:---|:---|
| **<u>Pool Balance</u>** | **<u>Pool Balance</u>** | |
| &nbsp;&nbsp;&nbsp;1. | Pool Balance on the close of the last day of the preceding Collection Period | $281649342.76 |
| &nbsp;&nbsp;&nbsp;2. | Collections allocable to Principal | $14970262.56 |
| &nbsp;&nbsp;&nbsp;3. | Purchase Amount allocable to Principal | $0.00 |
| &nbsp;&nbsp;&nbsp;4. | Defaulted Receivables | $483415.66 |
| &nbsp;&nbsp;&nbsp;5. | Pool Balance on the close of the last day of the related Collection Period | $266195664.54 |
|  | (Ln1 - Ln2 - Ln3 - Ln4) |  |
| &nbsp;&nbsp;&nbsp;6. | Total number of Receivables outstanding on the close of the last day of the related Collection Period | 33882 |
| &nbsp;&nbsp;&nbsp;7. | Initial Pool Balance | $1503750003.50 |
|  |  | End of Period |
| &nbsp;&nbsp;&nbsp;8. | Note Balances |  |
|  | a. Class A-1 Note Balance | $0.00 |
|  | b. Class A-2a Note Balance | $0.00 |
|  | c. Class A-2b Floating Rate Note Balance | $0.00 |
|  | d. Class A-3 Note Balance | $70636289.53 |
|  | e. Class A-4 Note Balance | $103820000.00 |
|  | f. Class B Note Balance | $33840000.00 |
|  | g. Class C Note Balance | $30070000.00 |
|  | h. Class D Note Balance | $24070000.00 |
|  | i. Note Balance (sum a - h) | $262436289.53 |
| &nbsp;&nbsp;&nbsp;9. | Pool Factors |  |
|  | a. Class A-1 Note Pool Factor | 0.0000000 |
|  | b. Class A-2a Note Pool Factor | 0.0000000 |
|  | c. Class A-2b Floating Rate Note Pool Factor | 0.0000000 |
|  | d. Class A-3 Note Pool Factor | 0.1491791 |
|  | e. Class A-4 Note Pool Factor | 1.0000000 |
|  | f. Class B Note Pool Factor | 1.0000000 |
|  | g. Class C Note Pool Factor | 1.0000000 |
|  | h. Class D Note Pool Factor | 1.0000000 |
|  | i. Note Pool Factor | 0.1749575 |
| &nbsp;&nbsp;&nbsp;10. | Overcollateralization Target Amount | $3759375.01 |
| &nbsp;&nbsp;&nbsp;11. | Current overcollateralization amount (Pool Balance - Note Balance) | $3759375.01 |
| &nbsp;&nbsp;&nbsp;12. | Weighted Average Coupon | 9.12% |
| &nbsp;&nbsp;&nbsp;13. | Weighted Average Original Term | 67.92 |
| &nbsp;&nbsp;&nbsp;14. | Weighted Average Remaining Term | 25.08 |
| &nbsp;&nbsp;&nbsp;15. | 1-Month LIBOR for the interest period ending 3/14/2023 | 4.58786% |
| &nbsp;&nbsp;&nbsp;16. | Note Rate applicable to the Class A-2b notes for the interest period ending 3/14/2023 | N/A |
| **<u>Collections</u>** | **<u>Collections</u>** |  |
| &nbsp;&nbsp;&nbsp;17. | Finance Charges: |  |
|  | a. Collections allocable to Finance Charge | $2118000.50 |
|  | b. Liquidation Proceeds allocable to Finance Charge | $1583.02 |
|  | c. Purchase Amount allocable to Finance Charge | $0.00 |
|  | d. Available Finance Charge Collections (sum a - c) | $2119583.52 |
| &nbsp;&nbsp;&nbsp;18. | Principal: |  |
|  | a. Collections allocable to Principal | $14970262.56 |
|  | b. Liquidation Proceeds allocable to Principal | $297789.90 |
|  | c. Purchase Amount allocable to Principal | $0.00 |
|  | d. Available Principal Collections (sum a - c) | $15268052.46 |
| &nbsp;&nbsp;&nbsp;19. | Total Finance Charge and Principal Collections (17d + 18d) | $17387635.98 |
| &nbsp;&nbsp;&nbsp;20. | Interest Income from Collection Account | $51913.57 |
| &nbsp;&nbsp;&nbsp;21. | Simple Interest Advances | $0.00 |
| &nbsp;&nbsp;&nbsp;22. | Available Collections (Ln19 + 20 + 21) | $17439549.55 |

---

------

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| | | |
|:---|:---|:---|
| **<u>Available Funds</u>** | **<u>Available Funds</u>** | |
| &nbsp;&nbsp;&nbsp;23. | Available Collections | $17439549.55 |
| &nbsp;&nbsp;&nbsp;24. | Reserve Account Draw Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;25. | Available Funds | $17439549.55 |
| **<u>Application of Available Funds</u>** | **<u>Application of Available Funds</u>** |  |
| &nbsp;&nbsp;&nbsp;26. | Servicing Fee | 0.15% |
|  | a. Monthly Servicing Fee | $234707.79 |
|  | b. Amount Unpaid from Prior Months | $0.00 |
|  | c. Amount Paid | $234707.79 |
|  | d. Shortfall Amount (a + b - c) | $0.00 |
| &nbsp;&nbsp;&nbsp;27. | Unreimbursed Servicer Advances | $0.00 |
| &nbsp;&nbsp;&nbsp;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 |
| &nbsp;&nbsp;&nbsp;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 | $0.00 |
|  | 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) | $0.00 |
|  | i. Class A-2b Monthly Interest | $0.00 |
|  | 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) | $0.00 |
|  | m. Class A-3 Monthly Interest | $144918.11 |
|  | 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) | 144918.11 |
|  | q. Class A-4 Monthly Interest | $184280.50 |
|  | 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) | $184280.50 |
| &nbsp;&nbsp;&nbsp;30. | Priority Principal Distributable Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;31. | Class B Noteholder Interest Amount |  |
|  | a. Class B Monthly Interest | $65424.00 |
|  | 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) | $65424.00 |
| &nbsp;&nbsp;&nbsp;32. | Secondary Principal Distributable Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;33. | Class C Noteholder Interest Amount |  |
|  | a. Class C Monthly Interest | $65151.67 |
|  | 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) | $65151.67 |
| &nbsp;&nbsp;&nbsp;34. | Tertiary Principal Distributable Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;35. | Class D Noteholder Interest Amount |  |
|  | a. Class D Monthly Interest | $56163.33 |
|  | 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) | $56163.33 |

---

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;36. | Quaternary Principal Distributable Amount | $11694303.21 |
| &nbsp;&nbsp;&nbsp;37. | Required Payment Amount (Ln 26 + Ln 28 + (sum of Ln 29 through Ln 36)) | $12444948.61 |
| &nbsp;&nbsp;&nbsp;38. | Reserve Account Deficiency | $0.00 |
| &nbsp;&nbsp;&nbsp;39. | Regular Principal Distributable Amount | $3759375.01 |
| &nbsp;&nbsp;&nbsp;40. | Remaining Unpaid Servicer Transition Expenses and Additional Servicing Fees, if any | $0.00 |
| &nbsp;&nbsp;&nbsp;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 |
| &nbsp;&nbsp;&nbsp;42. | Remaining Unpaid Successor Servicer Indemnity Amounts, if any | $0.00 |
| **<u>Collection Account Activity</u>** | **<u>Collection Account Activity</u>** | 0.15% |
| &nbsp;&nbsp;&nbsp;43. | Deposits |  |
|  | a. Total Daily Deposits of Finance Charge Collections | $2119583.52 |
|  | b. Total Daily Deposits of Principal Collections | $15268052.46 |
|  | c. Withdrawal from Reserve Account | $0.00 |
|  | d. Interest Income | $51913.57 |
|  | e. Total Deposits to Collection Account (sum a - d) | $17439549.55 |
| &nbsp;&nbsp;&nbsp;44. | Withdrawals |  |
|  | a. Servicing Fee and Unreimbursed Servicer Advances | $234707.79 |
|  | b. Successor Servicer Transition Expenses and Indemnity Amounts | $0.00 |
|  | c. Deposit to Note Payment Account for Monthly Note Interest/Principal | $15969615.83 |
|  | d. Deposit to Reserve Account | $0.00 |
|  | e. Excess Collections (Deposit to Certificate Payment Account for payment to Certificateholder) | $1235225.93 |
|  | f. Total Withdrawals from Collection Account (sum a - e) | $17439549.55 |
| **<u>Note Payment Account Activity</u>** | **<u>Note Payment Account Activity</u>** |  |
| &nbsp;&nbsp;&nbsp;45. | Deposits |  |
|  | a. Class A-1 Interest Distribution | $0.00 |
|  | b. Class A-2a Interest Distribution | $0.00 |
|  | c. Class A-2b Interest Distribution | $0.00 |
|  | d. Class A-3 Interest Distribution | $144918.11 |
|  | e. Class A-4 Interest Distribution | $184280.50 |
|  | f. Class B Interest Distribution | $65424.00 |
|  | g. Class C Interest Distribution | $65151.67 |
|  | h. Class D Interest Distribution | $56163.33 |
|  | i. Class A-1 Principal Distribution | $0.00 |
|  | j. Class A-2a Principal Distribution | $0.00 |
|  | k. Class A-2b Principal Distribution | $0.00 |
|  | l. Class A-3 Principal Distribution | $15453678.22 |
|  | 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) | $15969615.83 |
| &nbsp;&nbsp;&nbsp;46. | Withdrawals |  |
|  | a. Class A-1 Distribution | $0.00 |
|  | b. Class A-2a Distribution | $0.00 |
|  | c. Class A-2b Distribution | $0.00 |
|  | d. Class A-3 Distribution | $15598596.33 |
|  | e. Class A-4 Distribution | $184280.50 |
|  | f. Class B Distribution | $65424.00 |
|  | g. Class C Distribution | $65151.67 |
|  | h. Class D Distribution | $56163.33 |
|  | i. Total Withdrawals from Note Payment Account (sum a - h) | $15969615.83 |

---

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| | | |
|:---|:---|:---|
| **<u>Certificate Payment Account Activity</u>** | **<u>Certificate Payment Account Activity</u>** | |
| &nbsp;&nbsp;&nbsp;47. | Deposits to Certificate Payment Account from Excess Collections | $1235225.93 |
| &nbsp;&nbsp;&nbsp;48. | Withdrawals from Certificate Payment Account for Certificateholder Distribution | $1235225.93 |
| **<u>Required Reserve Account Amount</u>** | **<u>Required Reserve Account Amount</u>** |  |
| &nbsp;&nbsp;&nbsp;49. | Required Reserve Account Amount (0.25% of Initial Pool Balance) | $3759375.01 |
| **<u>Reserve Account Reconciliation</u>** | **<u>Reserve Account Reconciliation</u>** | 0.15% |
| &nbsp;&nbsp;&nbsp;50. | Beginning Balance (as of end of preceding Distribution Date) | $3759375.01 |
| &nbsp;&nbsp;&nbsp;51. | Investment Earnings | $12431.57 |
| &nbsp;&nbsp;&nbsp;52. | Reserve Account Draw Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;53. | Reserve Account Amount (Ln 50 + Ln 51 - Ln 52) | $3771806.58 |
| &nbsp;&nbsp;&nbsp;54. | Deposit from Available Funds (Ln 44d) | $0.00 |
| &nbsp;&nbsp;&nbsp;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 |
| &nbsp;&nbsp;&nbsp;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 | $12431.57 |
| &nbsp;&nbsp;&nbsp;57. | Ending Balance (Ln53 + Ln54 - Ln55 - Ln56) | $3759375.01 |
| &nbsp;&nbsp;&nbsp;58. | Reserve Account Deficiency (Ln50 - Ln57) | $0.00 |
| **<u>Instructions to the Trustee</u>** | **<u>Instructions to the Trustee</u>** |  |
| &nbsp;&nbsp;&nbsp;59. | Amount to be deposited from the Reserve Account into the Collection Account | $0.00 |
| &nbsp;&nbsp;&nbsp;60. | Amount to be paid to Servicer from the Collection Account | $234707.79 |
| &nbsp;&nbsp;&nbsp;61. | Amount to be deposited from the Collection Account into the Note Payment Account | $15969615.83 |
| &nbsp;&nbsp;&nbsp;62. | Amount to be deposited from the Collection Account into the Certificate Payment Account | $1235225.93 |
| &nbsp;&nbsp;&nbsp;63. | Amount to be deposited from the Collection Account into the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;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 | $12431.57 |
| &nbsp;&nbsp;&nbsp;65. | Amount to be paid to Class A-1 Noteholders from the Note Payment Account | $0.00 |
| &nbsp;&nbsp;&nbsp;66. | Amount to be paid to Class A-2a Noteholders from the Note Payment Account | $0.00 |
| &nbsp;&nbsp;&nbsp;67. | Amount to be paid to Class A-2b Noteholders from the Note Payment Account | $0.00 |
| &nbsp;&nbsp;&nbsp;68. | Amount to be paid to Class A-3 Noteholders from the Note Payment Account | $15598596.33 |
| &nbsp;&nbsp;&nbsp;69. | Amount to be paid to Class A-4 Noteholders from the Note Payment Account | $184280.50 |
| &nbsp;&nbsp;&nbsp;70. | Amount to be paid to Class B Noteholders from the Note Payment Account | $65424.00 |
| &nbsp;&nbsp;&nbsp;71. | Amount to be paid to Class C Noteholders from the Note Payment Account | $65151.67 |
| &nbsp;&nbsp;&nbsp;72. | Amount to be paid to Class D Noteholders from the Note Payment Account | $56163.33 |
| &nbsp;&nbsp;&nbsp;73. | Amount to be paid to Certificateholders from the Certificate Payment Account with respect to Excess Collections | $1235225.93 |

---

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| | | | |
|:---|:---|:---|:---|
| **<u>Delinquency Activity</u>** | **<u>Delinquency Activity</u>** | | |
|  |  | Number of Loans | Principal Balance |
| &nbsp;&nbsp;&nbsp;74. | Delinquency Analysis |  |  |
|  | a. 31 to 60 days past due | 788 | $8784219.37 |
|  | b. 61 to 90 days past due | 416 | $5014665.07 |
|  | c. 91 to 120 days past due | 84 | $907276.11 |
|  | d. 121 or more days past due | 2 | $46369.58 |
|  | e. Total Past Due (sum a - d) | 1290 | $14752530.13 |
|  | f. Delinquent Loans as a percentage of end of period Pool Balance (Ln 74e / Ln 5) |  | 5.5420% |
| &nbsp;&nbsp;&nbsp;75. | Has a Delinquency Trigger Event occurred? |  | No |
| **<u>Loss Activity</u>** | **<u>Loss Activity</u>** |  |  |
|  |  | Number of Loans | Principal Balance |
| &nbsp;&nbsp;&nbsp;76. | Defaulted Receivables (charge-offs) | 56 | $483415.66 |
| &nbsp;&nbsp;&nbsp;77. | Recoveries | 149 | $299372.92 |
| &nbsp;&nbsp;&nbsp;78. | Net Losses (Ln 76 - Ln 77) |  | $184042.74 |
| &nbsp;&nbsp;&nbsp;79. | Ratio of Net Losses to Beginning of Period Pool Balance (Ln 78 / Ln 1) |  | 0.0653% |
| **<u>Cumulative Loss Activity</u>** | **<u>Cumulative Loss Activity</u>** |  |  |
|  |  | Number of Loans | Principal Balance |
| &nbsp;&nbsp;&nbsp;80. | Defaulted Receivables (charge-offs) | 2918 | $38768654.15 |
| &nbsp;&nbsp;&nbsp;81. | Recoveries | 2222 | $19935675.75 |
| &nbsp;&nbsp;&nbsp;82. | Cumulative Net Losses (Ln 80 - Ln 81) |  | $18832978.40 |
| &nbsp;&nbsp;&nbsp;83. | Ratio of Cumulative Net Losses to Initial Pool Balance (Ln 82 / Ln 7) |  | 1.2524% |
| &nbsp;&nbsp;&nbsp;84. | Average Net Loss on Defaulted Receivables |  | $6454.07 |
| **<u>Other Servicing Information</u>** | **<u>Other Servicing Information</u>** |  |  |
| &nbsp;&nbsp;&nbsp;85. | Principal Balance of Receivables extended during the Collection Period |  | $1878356.46 |
| &nbsp;&nbsp;&nbsp;86. | Pool Balance on the close of the last day of the preceding Collection Period |  | $281649342.76 |
| &nbsp;&nbsp;&nbsp;87. | Ratio of extensions to pool balance (Ln 85 / Ln 86) |  | 0.67% |

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IN WITNESS WHEREOF, the undersigned has duly executed this certificate on March 9, 2023.

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| | |
|:---|:---|
| **CARMAX BUSINESS SERVICES, LLC** | **CARMAX BUSINESS SERVICES, LLC** |
| As Servicer | As Servicer |
| By: | /s/ Andrew J. McMonigle |
| Name: | Andrew J. McMonigle |
| Title: | Vice President and Treasurer |

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