Free Writing Prospectus
Filed Pursuant to Rule 433
RegistrationNo. 333-207329
RegistrationNo. 333-207329-11
Free Writing Prospectus dated July 11, 2018
CarMax Auto Owner Trust2018-3
Issuing Entity or Trust
CarMax Business Services, LLC
Sponsor and Servicer
CarMax Auto Funding LLC
Depositor and Seller
The depositor has prepared a preliminary prospectus dated July 11, 2018 which describes the notes to be issued by the issuing entity. You should review the preliminary prospectus in its entirety before deciding to purchase any of the notes.
Ratings
The depositor expects that the notes issued by the issuing entity will receive at least the indicated credit ratings from the nationally recognized statistical rating organizations, or “rating agencies,” listed below.
Fitch Ratings, Inc. | S&P Global Ratings | |||
Class A-1 Asset-backed Notes | F1+sf | A-1+ (sf) | ||
Class A-2 Asset-backed Notes | AAAsf | AAA (sf) | ||
Class A-3 Asset-backed Notes | AAAsf | AAA (sf) | ||
Class A-4 Asset-backed Notes | AAAsf | AAA (sf) | ||
Class B Asset-backed Notes | AAsf | AA (sf) | ||
Class C Asset-backed Notes | Asf | A (sf) | ||
Class D Asset-backed Notes | BBBsf | BBB (sf) |
It is a condition to the issuance of the notes that, on the closing date, each class of notes receive at least the ratings listed above.
Joint Bookrunners of the Class A, B, C and D Notes
| Barclays | Mizuho Securities | RBC Capital Markets |
Co-Managers of the Class A Notes
| Credit Suisse | Scotiabank | SMBC Nikko | Wells Fargo Securities |
The depositor 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 depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling1-888-603-5847.
The information in this free writing prospectus supersedes information contained in any prior similar free writing prospectus relating to these securities prior to the time of your commitment to purchase.