CarMax Auto Owner Trust 2024-2

15/11/2024 | Press release | Distributed by Public on 15/11/2024 18:43

Asset Backed Issuer Distribution Report Form 10 D


MONTHLY SERVICER'S CERTIFICATE
CARMAX BUSINESS SERVICES, LLC
CARMAX AUTO OWNER TRUST
SERIES 2024-2
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. 333-260819-10.



Pool Balance
1. Pool Balance on the close of the last day of the preceding Collection Period $ 1,320,184,265.64
2. Collections allocable to Principal $ 44,123,227.69
3. Purchase Amount allocable to Principal $ 0.00
4. Defaulted Receivables $ 3,055,560.21
5. Pool Balance on the close of the last day of the related Collection Period $ 1,273,005,477.74
(Ln1 - Ln2 - Ln3 - Ln4)
6. Total number of Receivables outstanding on the close of the last day of the related Collection Period 70,942
7. Initial Pool Balance $ 1,612,091,400.06
Beginning of Period End of Period
8. Note Balances
a. Class A-1 Note Balance
$ 17,093,580.14 $ 0.00
b. Class A-2a Note Balance $ 410,000,000.00 $ 386,944,046.39
c. Class A-2b Floating Rate Note Balance $ 125,000,000.00 $ 117,970,745.85
d. Class A-3 Note Balance $ 535,000,000.00 $ 535,000,000.00
e. Class A-4 Note Balance $ 88,790,000.00 $ 88,790,000.00
f. Class B Note Balance $ 50,790,000.00 $ 50,790,000.00
g. Class C Note Balance $ 48,370,000.00 $ 48,370,000.00
h. Class D Note Balance $ 33,050,000.00 $ 33,050,000.00
i. Note Balance (sum a - h) $ 1,308,093,580.14 $ 1,260,914,792.24
9. Pool Factors
a. Class A-1 Note Pool Factor 0.0553190 0.0000000
b. Class A-2a Note Pool Factor 1.0000000 0.9437660
c. Class A-2b Floating Rate Note Pool Factor 1.0000000 0.9437660
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 0.8175585 0.7880717
10. Overcollateralization Target Amount $ 12,090,686
11. Current overcollateralization amount (Pool Balance - Note Balance) $ 12,090,686
12. Weighted Average Coupon 11.18 %
13. Weighted Average Original Term months 65.94
14. Weighted Average Remaining Term months 52.82
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 5.58981 %
Collections
17. Finance Charges:
a. Collections allocable to Finance Charge $ 12,056,903.79
b. Liquidation Proceeds allocable to Finance Charge $ 1,570.87
c. Purchase Amount allocable to Finance Charge $ 0.00
d. Available Finance Charge Collections (sum a - c) $ 12,058,474.66
18. Principal:
a. Collections allocable to Principal $ 44,123,227.69
b. Liquidation Proceeds allocable to Principal $ 970,816.21
c. Purchase Amount allocable to Principal $ 0.00
d. Available Principal Collections (sum a - c) $ 45,094,043.90
19. Total Finance Charge and Principal Collections (17d + 18d) $ 57,152,518.56
20. Interest Income from Collection Account $ 173,868.71
21. Simple Interest Advances $ 0.00
22. Available Collections (Ln19 + 20 + 21) $ 57,326,387.27


Available Funds
23. Available Collections $ 57,326,387.27
24. Reserve Account Draw Amount $ 0.00
25. Available Funds $ 57,326,387.27
Application of Available Funds
26. Servicing Fee 0.15 %
a. Monthly Servicing Fee $ 1,100,153.55
b. Amount Unpaid from Prior Months $ 0.00
c. Amount Paid $ 1,100,153.55
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 $ 81,428.12
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) $ 81,428.12
e. Class A-2a Monthly Interest $ 1,930,416.67
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) $ 1,930,416.67
i. Class A-2b Monthly Interest $ 601,680.94
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) $ 601,680.94
m. Class A-3 Monthly Interest $ 2,452,083.33
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) $ 2,452,083.33
q. Class A-4 Monthly Interest $ 407,694.08
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) $ 407,694.08
30. Priority Principal Distributable Amount $ 0.00
31. Class B Noteholder Interest Amount
a. Class B Monthly Interest $ 240,829.25
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) $ 240,829.25
32. Secondary Principal Distributable Amount $ 0.00
33. Class C Noteholder Interest Amount
a. Class C Monthly Interest $ 235,400.67
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) $ 235,400.67
34. Tertiary Principal Distributable Amount $ 2,038,102.40
35. Class D Noteholder Interest Amount
a. Class D Monthly Interest $ 176,817.50
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) $ 176,817.50


36. Quaternary Principal Distributable Amount $ 33,050,000.00
37. Required Payment Amount (Ln 26 + Ln 28 + (sum of Ln 29 through Ln 36)) $ 42,314,606.51
38. Reserve Account Deficiency $ 0.00
39. Regular Principal Distributable Amount $ 12,090,685.50
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 $ 12,058,474.66
b. Total Daily Deposits of Principal Collections $ 45,094,043.90
c. Withdrawal from Reserve Account $ 0.00
d. Interest Income $ 173,868.71
e. Total Deposits to Collection Account (sum a - d) $ 57,326,387.27
44. Withdrawals
a. Servicing Fee and Unreimbursed Servicer Advances $ 1,100,153.55
b. Successor Servicer Transition Expenses and Indemnity Amounts $ 0.00
c. Deposit to Note Payment Account for Monthly Note Interest/Principal $ 53,305,138.46
d. Deposit to Reserve Account $ 0.00
e. Excess Collections (Deposit to Certificate Payment Account for payment to Certificateholder) $ 2,921,095.26
f. Total Withdrawals from Collection Account (sum a - e) $ 57,326,387.27
Note Payment Account Activity
45. Deposits
a. Class A-1 Interest Distribution $ 81,428.12
b. Class A-2a Interest Distribution $ 1,930,416.67
c. Class A-2b Interest Distribution $ 601,680.94
d. Class A-3 Interest Distribution $ 2,452,083.33
e. Class A-4 Interest Distribution $ 407,694.08
f. Class B Interest Distribution $ 240,829.25
g. Class C Interest Distribution $ 235,400.67
h. Class D Interest Distribution $ 176,817.50
i. Class A-1 Principal Distribution $ 17,093,580.14
j. Class A-2a Principal Distribution $ 23,055,953.61
k. Class A-2b Principal Distribution $ 7,029,254.15
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) $ 53,305,138.46
46. Withdrawals
a. Class A-1 Distribution $ 17,175,008.26
b. Class A-2a Distribution $ 24,986,370.28
c. Class A-2b Distribution $ 7,630,935.09
d. Class A-3 Distribution $ 2,452,083.33
e. Class A-4 Distribution $ 407,694.08
f. Class B Distribution $ 240,829.25
g. Class C Distribution $ 235,400.67
h. Class D Distribution $ 176,817.50
i. Total Withdrawals from Note Payment Account (sum a - h) $ 53,305,138.46


Certificate Payment Account Activity
47. Deposits to Certificate Payment Account from Excess Collections $ 2,921,095.26
48. Withdrawals from Certificate Payment Account for Certificateholder Distribution $ 2,921,095.26
Required Reserve Account Amount 0.15 %
49. Required Reserve Account Amount (1.00% of Initial Pool Balance) $ 4,030,228.50
Reserve Account Reconciliation
50. Beginning Balance (as of end of preceding Distribution Date) $ 4,030,228.50
51. Investment Earnings $ 16,430.47
52. Reserve Account Draw Amount $ 0.00
53. Reserve Account Amount (Ln 50 + Ln 51 - Ln 52) $ 4,046,658.97
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 $ 16,430.47
57. Ending Balance (Ln53 + Ln54 - Ln55 - Ln56) $ 4,030,228.50
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 $ 1,100,153.55
61. Amount to be deposited from the Collection Account into the Note Payment Account $ 53,305,138.46
62. Amount to be deposited from the Collection Account into the Certificate Payment Account $ 2,921,095.26
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 $ 16,430.47
65. Amount to be paid to Class A-1 Noteholders from the Note Payment Account $ 17,175,008.26
66. Amount to be paid to Class A-2a Noteholders from the Note Payment Account $ 24,986,370.28
67. Amount to be paid to Class A-2b Noteholders from the Note Payment Account $ 7,630,935.09
68. Amount to be paid to Class A-3 Noteholders from the Note Payment Account $ 2,452,083.33
69. Amount to be paid to Class A-4 Noteholders from the Note Payment Account $ 407,694.08
70. Amount to be paid to Class B Noteholders from the Note Payment Account $ 240,829.25
71. Amount to be paid to Class C Noteholders from the Note Payment Account $ 235,400.67
72. Amount to be paid to Class D Noteholders from the Note Payment Account $ 176,817.50
73. Amount to be paid to Certificateholders from the Certificate Payment Account with respect to Excess Collections $ 2,921,095.26


Delinquency Activity
Number of Loans Principal Balance
74. Delinquency Analysis
a. 31 to 60 days past due 1,188 $ 26,904,000.49
b. 61 to 90 days past due 450 $ 10,599,389.54
c. 91 to 120 days past due 146 $ 3,265,102.76
d. 121 or more days past due 0 $ 0.00
e. Total Past Due (sum a - d) 1,784 $ 40,768,492.79
f. Delinquent Loans as a percentage of end of period Pool Balance (Ln 74e / Ln 5) 3.2025 %
75. Has a Delinquency Trigger Event occurred? No
Loss Activity
Number of Loans Principal Balance
76. Defaulted Receivables (charge-offs) 139 $ 3,055,560.21
77. Recoveries 122 $ 972,387.08
78. Net Losses (Ln 76 - Ln 77) $ 2,083,173.13
79. Ratio of Net Losses to Beginning of Period Pool Balance (Ln 78 / Ln 1) 0.1578 %
Cumulative Loss Activity
Number of Loans Principal Balance
80. Defaulted Receivables (charge-offs) 474 $ 11,543,599.31
81. Recoveries 284 $ 3,132,603.40
82. Cumulative Net Losses (Ln 80 - Ln 81) $ 8,410,995.91
83. Ratio of Cumulative Net Losses to Initial Pool Balance (Ln 82 / Ln 7) 0.5217 %
84. Average Net Loss on Defaulted Receivables $ 17,744.72
Other Servicing Information
85. Principal Balance of Receivables extended during the Collection Period $ 20,877,313.33
86. Pool Balance on the close of the last day of the preceding Collection Period $ 1,320,184,265.64
87. Ratio of extensions to pool balance (Ln 85 / Ln 86) 1.58 %



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