Carmax Auto Owner Trust 2024-3

12/15/2025 | Press release | Distributed by Public on 12/15/2025 11:31

Asset-Backed Issuer Distribution Report (Form 10-D)


MONTHLY SERVICER'S CERTIFICATE
CARMAX BUSINESS SERVICES, LLC
CARMAX AUTO OWNER TRUST
SERIES 2024-3
Collection Period 11/01/25-11/30/25
Determination Date 12/9/2025
Distribution Date 12/15/2025
Additional information, including defined terms, can be found in the prospectus on the SEC's EDGAR system (http://www.sec.gov) under File No. 333-260819-12.



Pool Balance
1. Pool Balance on the close of the last day of the preceding Collection Period $ 794,525,815.88
2. Collections allocable to Principal $ 27,789,292.63
3. Purchase Amount allocable to Principal $ 0.00
4. Defaulted Receivables $ 1,238,203.91
5. Pool Balance on the close of the last day of the related Collection Period $ 765,498,319.34
(Ln1 - Ln2 - Ln3 - Ln4)
6. Total number of Receivables outstanding on the close of the last day of the related Collection Period 45,698
7. Initial Pool Balance $ 1,414,141,357.32
Beginning of Period End of Period
8. Note Balances
a. Class A-1 Note Balance
$ 0.00 $ 0.00
b. Class A-2a Note Balance $ 70,204,524.43 $ 55,690,776.16
c. Class A-2b Floating Rate Note Balance $ 70,204,524.48 $ 55,690,776.21
d. Class A-3 Note Balance $ 498,400,000.00 $ 498,400,000.00
e. Class A-4 Note Balance $ 85,000,000.00 $ 85,000,000.00
f. Class B Note Balance $ 17,680,000.00 $ 17,680,000.00
g. Class C Note Balance $ 17,680,000.00 $ 17,680,000.00
h. Class D Note Balance $ 17,680,000.00 $ 17,680,000.00
i. Note Balance (sum a - h) $ 776,849,048.91 $ 747,821,552.37
9. Pool Factors
a. Class A-1 Note Pool Factor 0.0000000 0.0000000
b. Class A-2a Note Pool Factor 0.2817196 0.2234782
c. Class A-2b Floating Rate Note Pool Factor 0.2817196 0.2234782
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 0.5548922 0.5341583
10. Overcollateralization Target Amount $ 17,676,766.97
11. Current overcollateralization amount (Pool Balance - Note Balance) $ 17,676,766.97
12. Weighted Average Coupon 9.76 %
13. Weighted Average Original Term months 66.49
14. Weighted Average Remaining Term months 44.88
15. 30 day Average SOFR for the accrual period ending 7/14/2024 4.14202 %
16. Note Rate applicable to the Class A-2b notes for the interest period ending 7/14/2024 4.61202 %
Collections
17. Finance Charges:
a. Collections allocable to Finance Charge $ 6,511,210.76
b. Liquidation Proceeds allocable to Finance Charge $ 160.98
c. Purchase Amount allocable to Finance Charge $ 0.00
d. Available Finance Charge Collections (sum a - c) $ 6,511,371.74
18. Principal:
a. Collections allocable to Principal $ 27,789,292.63
b. Liquidation Proceeds allocable to Principal $ 679,620.10
c. Purchase Amount allocable to Principal $ 0.00
d. Available Principal Collections (sum a - c) $ 28,468,912.73
19. Total Finance Charge and Principal Collections (17d + 18d) $ 34,980,284.47
20. Interest Income from Collection Account $ 100,206.85
21. Simple Interest Advances $ 0.00
22. Available Collections (Ln19 + 20 + 21) $ 35,080,491.32


Available Funds
23. Available Collections $ 35,080,491.32
24. Reserve Account Draw Amount $ 0.00
25. Available Funds $ 35,080,491.32
Application of Available Funds
26. Servicing Fee 0.15 %
a. Monthly Servicing Fee $ 662,104.85
b. Amount Unpaid from Prior Months $ 0.00
c. Amount Paid $ 662,104.85
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 $ 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 $ 304,804.64
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) $ 304,804.64
i. Class A-2b Monthly Interest $ 251,832.52
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) $ 251,832.52
m. Class A-3 Monthly Interest $ 2,030,980.00
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) $ 2,030,980.00
q. Class A-4 Monthly Interest $ 343,541.67
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) $ 343,541.67
30. Priority Principal Distributable Amount $ 0.00
31. Class B Noteholder Interest Amount
a. Class B Monthly Interest $ 74,845.33
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) $ 74,845.33
32. Secondary Principal Distributable Amount $ 0.00
33. Class C Noteholder Interest Amount
a. Class C Monthly Interest $ 77,792.00
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) $ 77,792.00
34. Tertiary Principal Distributable Amount $ 0.00
35. Class D Noteholder Interest Amount
a. Class D Monthly Interest $ 83,538.00
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) $ 83,538.00


36. Quaternary Principal Distributable Amount $ 11,350,729.57
37. Required Payment Amount (Ln 26 + Ln 28 + (sum of Ln 29 through Ln 36)) $ 15,180,168.58
38. Reserve Account Deficiency $ 0.00
39. Regular Principal Distributable Amount $ 17,676,766.97
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 $ 6,511,371.74
b. Total Daily Deposits of Principal Collections $ 28,468,912.73
c. Withdrawal from Reserve Account $ 0.00
d. Interest Income $ 100,206.85
e. Total Deposits to Collection Account (sum a - d) $ 35,080,491.32
44. Withdrawals
a. Servicing Fee and Unreimbursed Servicer Advances $ 662,104.85
b. Successor Servicer Transition Expenses and Indemnity Amounts $ 0.00
c. Deposit to Note Payment Account for Monthly Note Interest/Principal $ 32,194,830.70
d. Deposit to Reserve Account $ 0.00
e. Excess Collections (Deposit to Certificate Payment Account for payment to Certificateholder) $ 2,223,555.77
f. Total Withdrawals from Collection Account (sum a - e) $ 35,080,491.32
Note Payment Account Activity
45. Deposits
a. Class A-1 Interest Distribution $ 0.00
b. Class A-2a Interest Distribution $ 304,804.64
c. Class A-2b Interest Distribution $ 251,832.52
d. Class A-3 Interest Distribution $ 2,030,980.00
e. Class A-4 Interest Distribution $ 343,541.67
f. Class B Interest Distribution $ 74,845.33
g. Class C Interest Distribution $ 77,792.00
h. Class D Interest Distribution $ 83,538.00
i. Class A-1 Principal Distribution $ 0.00
j. Class A-2a Principal Distribution $ 14,513,748.27
k. Class A-2b Principal Distribution $ 14,513,748.27
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) $ 32,194,830.70
46. Withdrawals
a. Class A-1 Distribution $ 0.00
b. Class A-2a Distribution $ 14,818,552.91
c. Class A-2b Distribution $ 14,765,580.79
d. Class A-3 Distribution $ 2,030,980.00
e. Class A-4 Distribution $ 343,541.67
f. Class B Distribution $ 74,845.33
g. Class C Distribution $ 77,792.00
h. Class D Distribution $ 83,538.00
i. Total Withdrawals from Note Payment Account (sum a - h) $ 32,194,830.70


Certificate Payment Account Activity
47. Deposits to Certificate Payment Account from Excess Collections $ 2,223,555.77
48. Withdrawals from Certificate Payment Account for Certificateholder Distribution $ 2,223,555.77
Required Reserve Account Amount 0.15 %
49. Required Reserve Account Amount (1.00% of Initial Pool Balance) $ 3,535,353.39
Reserve Account Reconciliation
50. Beginning Balance (as of end of preceding Distribution Date) $ 3,535,353.39
51. Investment Earnings $ 11,209.89
52. Reserve Account Draw Amount $ 0.00
53. Reserve Account Amount (Ln 50 + Ln 51 - Ln 52) $ 3,546,563.28
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 $ 11,209.89
57. Ending Balance (Ln53 + Ln54 - Ln55 - Ln56) $ 3,535,353.39
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 $ 662,104.85
61. Amount to be deposited from the Collection Account into the Note Payment Account $ 32,194,830.70
62. Amount to be deposited from the Collection Account into the Certificate Payment Account $ 2,223,555.77
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 $ 11,209.89
65. Amount to be paid to Class A-1 Noteholders from the Note Payment Account $ 0.00
66. Amount to be paid to Class A-2a Noteholders from the Note Payment Account $ 14,818,552.91
67. Amount to be paid to Class A-2b Noteholders from the Note Payment Account $ 14,765,580.79
68. Amount to be paid to Class A-3 Noteholders from the Note Payment Account $ 2,030,980.00
69. Amount to be paid to Class A-4 Noteholders from the Note Payment Account $ 343,541.67
70. Amount to be paid to Class B Noteholders from the Note Payment Account $ 74,845.33
71. Amount to be paid to Class C Noteholders from the Note Payment Account $ 77,792.00
72. Amount to be paid to Class D Noteholders from the Note Payment Account $ 83,538.00
73. Amount to be paid to Certificateholders from the Certificate Payment Account with respect to Excess Collections $ 2,223,555.77


Delinquency Activity
Number of Loans Principal Balance
74. Delinquency Analysis
a. 31 to 60 days past due 370 $ 7,432,402.17
b. 61 to 90 days past due 195 $ 4,341,180.52
c. 91 to 120 days past due 67 $ 1,414,881.20
d. 121 or more days past due 0 $ 0.00
e. Total Past Due (sum a - d) 632 $ 13,188,463.89
f. Delinquent Loans as a percentage of end of period Pool Balance (Ln 74e / Ln 5) 1.7229 %
75. Has a Delinquency Trigger Event occurred? No
Loss Activity
Number of Loans Principal Balance
76. Defaulted Receivables (charge-offs) 61 $ 1,238,203.91
77. Recoveries 108 $ 679,781.08
78. Net Losses (Ln 76 - Ln 77) $ 558,422.83
79. Ratio of Net Losses to Beginning of Period Pool Balance (Ln 78 / Ln 1) 0.0703 %
Cumulative Loss Activity
Number of Loans Principal Balance
80. Defaulted Receivables (charge-offs) 769 $ 16,803,943.00
81. Recoveries 572 $ 6,400,607.29
82. Cumulative Net Losses (Ln 80 - Ln 81) $ 10,403,335.71
83. Ratio of Cumulative Net Losses to Initial Pool Balance (Ln 82 / Ln 7) 0.7357 %
84. Average Net Loss on Defaulted Receivables $ 13,528.39
Other Servicing Information
85. Principal Balance of Receivables extended during the Collection Period $ 6,226,076.33
86. Pool Balance on the close of the last day of the preceding Collection Period $ 794,525,815.88
87. Ratio of extensions to pool balance (Ln 85 / Ln 86) 0.78 %



IN WITNESS WHEREOF, the undersigned has duly executed this certificate on December 9, 2025
CARMAX BUSINESS SERVICES, LLC
As Servicer
By: /s/ Greg Dostich
Name: Greg Dostich
Title: Vice President and Treasurer


Carmax Auto Owner Trust 2024-3 published this content on December 15, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on December 15, 2025 at 17:32 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]