CarMax Auto Owner Trust 2021-3

06/16/2025 | Press release | Distributed by Public on 06/16/2025 13:15

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


MONTHLY SERVICER'S CERTIFICATE
CARMAX BUSINESS SERVICES, LLC
CARMAX AUTO OWNER TRUST
SERIES 2021-3
Collection Period 05/01/25-05/31/25
Determination Date 6/9/2025
Distribution Date 6/16/2025
Additional information, including defined terms, can be found in the prospectus on the SEC's EDGAR system (http://www.sec.gov) under File No. 333-228379-11.



Pool Balance
1. Pool Balance on the close of the last day of the preceding Collection Period $ 240,466,144.28
2. Collections allocable to Principal $ 15,774,589.04
3. Purchase Amount allocable to Principal $ 0.00
4. Defaulted Receivables $ 674,886.11
5. Pool Balance on the close of the last day of the related Collection Period $ 224,016,669.13
(Ln1 - Ln2 - Ln3 - Ln4)
6. Total number of Receivables outstanding on the close of the last day of the related Collection Period 34,870
7. Initial Pool Balance $ 1,754,385,994.70
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 $ 0.00 $ 0.00
c. Class A-2b Floating Rate Note Balance $ 0.00 $ 0.00
d. Class A-3 Note Balance $ 0.00 $ 0.00
e. Class A-4 Note Balance $ 138,710,179.29 $ 122,260,704.14
f. Class B Note Balance $ 27,190,000.00 $ 27,190,000.00
g. Class C Note Balance $ 47,370,000.00 $ 47,370,000.00
h. Class D Note Balance $ 22,810,000.00 $ 22,810,000.00
i. Note Balance (sum a - h) $ 236,080,179.29 $ 219,630,704.14
9. Pool Factors
a. Class A-1 Note Pool Factor 0.0000000 0.0000000
b. Class A-2a Note Pool Factor 0.0000000 0.0000000
c. Class A-2b Floating Rate Note Pool Factor 0.0000000 0.0000000
d. Class A-3 Note Pool Factor 0.0000000 0.0000000
e. Class A-4 Note Pool Factor 0.9680381 0.8532396
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 0.1349030 0.1255033
10. Overcollateralization Target Amount $ 4,385,964.99
11. Current overcollateralization amount (Pool Balance - Note Balance) $ 4,385,964.99
12. Weighted Average Coupon 9.03 %
13. Weighted Average Original Term months 68.34
14. Weighted Average Remaining Term months 20.60
15. Applicable reference rate for the interest period ending 6/15/2025 N/A
16. Note Rate applicable to the Class A-2b notes for the interest period ending 6/15/2025 N/A
Collections
17. Finance Charges:
a. Collections allocable to Finance Charge $ 1,877,587.37
b. Liquidation Proceeds allocable to Finance Charge $ 3,207.32
c. Purchase Amount allocable to Finance Charge $ 0.00
d. Available Finance Charge Collections (sum a - c) $ 1,880,794.69
18. Principal:
a. Collections allocable to Principal $ 15,774,589.04
b. Liquidation Proceeds allocable to Principal $ 389,453.43
c. Purchase Amount allocable to Principal $ 0.00
d. Available Principal Collections (sum a - c) $ 16,164,042.47
19. Total Finance Charge and Principal Collections (17d + 18d) $ 18,044,837.16
20. Interest Income from Collection Account $ 56,425.82
21. Simple Interest Advances $ 0.00
22. Available Collections (Ln19 + 20 + 21) $ 18,101,262.98


Available Funds
23. Available Collections $ 18,101,262.98
24. Reserve Account Draw Amount $ 0.00
25. Available Funds $ 18,101,262.98
Application of Available Funds
26. Servicing Fee 0.15 %
a. Monthly Servicing Fee $ 200,388.45
b. Amount Unpaid from Prior Months $ 0.00
c. Amount Paid $ 200,388.45
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 $ -
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) $ -
i. Class A-2b Monthly Interest $ -
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) $ -
m. Class A-3 Monthly Interest $ -
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) $ -
q. Class A-4 Monthly Interest $ 85,537.94
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) $ 85,537.94
30. Priority Principal Distributable Amount $ 0.00
31. Class B Noteholder Interest Amount
a. Class B Monthly Interest $ 22,658.33
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) $ 22,658.33
32. Secondary Principal Distributable Amount $ 0.00
33. Class C Noteholder Interest Amount
a. Class C Monthly Interest $ 49,343.75
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) $ 49,343.75
34. Tertiary Principal Distributable Amount $ 0.00
35. Class D Noteholder Interest Amount
a. Class D Monthly Interest $ 28,512.50
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) $ 28,512.50


36. Quaternary Principal Distributable Amount $ 12,063,510.16
37. Required Payment Amount (Ln 26 + Ln 28 + (sum of Ln 29 through Ln 36)) $ 12,449,951.13
38. Reserve Account Deficiency $ 0.00
39. Regular Principal Distributable Amount $ 4,385,964.99
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 $ 1,880,794.69
b. Total Daily Deposits of Principal Collections $ 16,164,042.47
c. Withdrawal from Reserve Account $ 0.00
d. Interest Income $ 56,425.82
e. Total Deposits to Collection Account (sum a - d) $ 18,101,262.98
44. Withdrawals
a. Servicing Fee and Unreimbursed Servicer Advances $ 200,388.45
b. Successor Servicer Transition Expenses and Indemnity Amounts $ 0.00
c. Deposit to Note Payment Account for Monthly Note Interest/Principal $ 16,635,527.67
d. Deposit to Reserve Account $ 0.00
e. Excess Collections (Deposit to Certificate Payment Account for payment to Certificateholder) $ 1,265,346.86
f. Total Withdrawals from Collection Account (sum a - e) $ 18,101,262.98
Note Payment Account Activity
45. Deposits
a. Class A-1 Interest Distribution $ 0.00
b. Class A-2a Interest Distribution $ -
c. Class A-2b Interest Distribution $ -
d. Class A-3 Interest Distribution $ -
e. Class A-4 Interest Distribution $ 85,537.94
f. Class B Interest Distribution $ 22,658.33
g. Class C Interest Distribution $ 49,343.75
h. Class D Interest Distribution $ 28,512.50
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 $ 0.00
m. Class A-4 Principal Distribution $ 16,449,475.15
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) $ 16,635,527.67
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 $ 0.00
e. Class A-4 Distribution $ 16,535,013.09
f. Class B Distribution $ 22,658.33
g. Class C Distribution $ 49,343.75
h. Class D Distribution $ 28,512.50
i. Total Withdrawals from Note Payment Account (sum a - h) $ 16,635,527.67


Certificate Payment Account Activity
47. Deposits to Certificate Payment Account from Excess Collections $ 1,265,346.86
48. Withdrawals from Certificate Payment Account for Certificateholder Distribution $ 1,265,346.86
Required Reserve Account Amount 0.15 %
49. Required Reserve Account Amount (1.00% of Initial Pool Balance) $ 4,385,964.99
Reserve Account Reconciliation
50. Beginning Balance (as of end of preceding Distribution Date) $ 4,385,964.99
51. Investment Earnings $ 15,655.75
52. Reserve Account Draw Amount $ 0.00
53. Reserve Account Amount (Ln 50 + Ln 51 - Ln 52) $ 4,401,620.74
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 $ 15,655.75
57. Ending Balance (Ln53 + Ln54 - Ln55 - Ln56) $ 4,385,964.99
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 $ 200,388.45
61. Amount to be deposited from the Collection Account into the Note Payment Account $ 16,635,527.67
62. Amount to be deposited from the Collection Account into the Certificate Payment Account $ 1,265,346.86
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 $ 15,655.75
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 $ 0.00
67. Amount to be paid to Class A-2b Noteholders from the Note Payment Account $ 0.00
68. Amount to be paid to Class A-3 Noteholders from the Note Payment Account $ 0.00
69. Amount to be paid to Class A-4 Noteholders from the Note Payment Account $ 16,535,013.09
70. Amount to be paid to Class B Noteholders from the Note Payment Account $ 22,658.33
71. Amount to be paid to Class C Noteholders from the Note Payment Account $ 49,343.75
72. Amount to be paid to Class D Noteholders from the Note Payment Account $ 28,512.50
73. Amount to be paid to Certificateholders from the Certificate Payment Account with respect to Excess Collections $ 1,265,346.86


Delinquency Activity
Number of Loans Principal Balance
74. Delinquency Analysis
a. 31 to 60 days past due 1,404 $ 13,661,358.71
b. 61 to 90 days past due 798 $ 8,659,771.80
c. 91 to 120 days past due 119 $ 1,187,107.60
d. 121 or more days past due 0 $ 0.00
e. Total Past Due (sum a - d) 2,321 $ 23,508,238.11
f. Delinquent Loans as a percentage of end of period Pool Balance (Ln 74e / Ln 5) 10.4940 %
75. Has a Delinquency Trigger Event occurred? No
Loss Activity
Number of Loans Principal Balance
76. Defaulted Receivables (charge-offs) 77 $ 674,886.11
77. Recoveries 254 $ 392,660.75
78. Net Losses (Ln 76 - Ln 77) $ 282,225.36
79. Ratio of Net Losses to Beginning of Period Pool Balance (Ln 78 / Ln 1) 0.1174 %
Cumulative Loss Activity
Number of Loans Principal Balance
80. Defaulted Receivables (charge-offs) 4,950 $ 69,917,196.85
81. Recoveries 4,142 $ 33,009,288.55
82. Cumulative Net Losses (Ln 80 - Ln 81) $ 36,907,908.30
83. Ratio of Cumulative Net Losses to Initial Pool Balance (Ln 82 / Ln 7) 2.1038 %
84. Average Net Loss on Defaulted Receivables $ 7,456.14
Other Servicing Information
85. Principal Balance of Receivables extended during the Collection Period $ 3,953,896.27
86. Pool Balance on the close of the last day of the preceding Collection Period $ 240,466,144.28
87. Ratio of extensions to pool balance (Ln 85 / Ln 86) 1.64 %



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


CarMax Auto Owner Trust 2021-3 published this content on June 16, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on June 16, 2025 at 19:15 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io