# EDGAR Filing Document

**Accession Number:** 0001259380
**File Stem:** 0001193125-25-159417
**Filing Date:** 2025-7
**Character Count:** 4731
**Document Hash:** 3c1e10492476e37a2b3bb102311fdeeb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-159417.hdr.sgml**: 20250716

**ACCESSION NUMBER**: 0001193125-25-159417

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250716

**DATE AS OF CHANGE**: 20250715

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CarMax Auto Owner Trust 2025-3
- **CENTRAL INDEX KEY:** 0002074530
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-283219-04
- **FILM NUMBER:** 251125838

**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
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CARMAX AUTO FUNDING LLC
- **CENTRAL INDEX KEY:** 0001259380
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 010794037
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** FWP

**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

Free Writing Prospectus

Dated July 15, 2025

Filed Pursuant to Rule 433(d)

Registration No. 333-283219

Registration No. 333-283219-04

CarMax Auto Owner Trust (CARMX) 2025-3

Jt-Leads: BofA (str), MUFG, Scotia, TD

Co-Mgrs: CIBC, MIZ, RBC, Truist

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CLS | AMT($MM)\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WAL | S/F | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;P.WIN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E.FIN | L.FIN | BENCH |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YIELD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PRICE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CPN |
|  A-1 | 287.170 | 0.27 | A-1+/F1+ | 1-7 | 2/26 | 7/26 | I-CRV | 13.0 | 4.474 | 100.00000 | 4.474 |
|  A-2a | 385.133 | 1.11 | AAA/AAA | 7-21 | 4/27 | 8/28 | I-CRV | 37.0 | 4.464 | 99.99686 | 4.42 |
|  A-2b | 120.000 | 1.11 | AAA/AAA | 7-21 | 4/27 | 8/28 | SOFR30A | 37.0 |  | 100.00000 |  |
|  A-3 | 505.133 | 2.67 | AAA/AAA | 21-46 | 5/29 | 7/30 | I-CRV | 46.0 | 4.398 | 99.97945 | 4.35 |
|  A-4 | 92.800 | 3.89 | AAA/AAA | 46-47 | 6/29 | 1/31 | I-CRV | 54.0 | 4.522 | 99.96462 | 4.47 |
|  B | 30.606 | 3.89 | AA/AA | 47-47 | 6/29 | 3/31 | I-CRV | 75.0 | 4.732 | 99.97878 | 4.68 |
|  C | 14.579 | 3.89 | A+/A | 47-47 | 6/29 | 4/31 | I-CRV | 95.0 | 4.932 | 99.99282 | 4.88 |
|  D | 14.579 | 3.89 | A-/BBB | 47-47 | 6/29 | 5/32 | I-CRV | 130.0 | 5.282 | 99.98331 | 5.22 |

---

---

| | |
|:---|:---|
| Bill & Deliver : BofA | Offered Size : $1.45bln |
| Expected Ratings: S&P, Fitch | BBG Ticker : CARMX 2025-3 |
| ERISA Eligible : Yes | Format : Public/SEC Registered |
| Expected Settle : 7/23/25 | First Pay : 8/15/25 |
| Min Denoms : $5k x $1k RR | Compliance: US – Yes, EU – No |
| CUSIPs A-1 : 14290F AA4 | Pricing Speed: 1.3% ABS to 10% Clean-Up Call |
| A-2a : 14290F AB2 |  |

---

A-2b : 14290F AC0

A-3 : 14290F AD8

A-4 : 14290F AE6

B : 14290F AF3

C : 14290F AG1

D : 14290F AH9

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you may e-mail a request to prospectus_request@bofa.com. The securities may not be suitable for all investors. BofA Securities, Inc. and its affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer.