CarMax Auto Owner Trust 2022-1
11/17/2025 | Press release | Distributed by Public on 11/17/2025 09:48
Asset-Backed Issuer Distribution Report (Form 10-D)
MONTHLY SERVICER'S CERTIFICATE
CARMAX BUSINESS SERVICES, LLC
CARMAX AUTO OWNER TRUST
SERIES 2022-1
| Collection Period | 10/01/25-10/31/25 | |||||||||||||
| Determination Date | 11/10/2025 | |||||||||||||
| Distribution Date | 11/17/2025 | |||||||||||||
| Additional information, including defined terms, can be found in the prospectus on the SEC's EDGAR system (http://www.sec.gov) under File No. 333-260819-01. | ||||||||||||||
| Pool Balance | ||||||||||||||
| 1. | Pool Balance on the close of the last day of the preceding Collection Period | $ | 233,430,153.38 | |||||||||||
| 2. | Collections allocable to Principal | $ | 14,419,297.83 | |||||||||||
| 3. | Purchase Amount allocable to Principal | $ | 0.00 | |||||||||||
| 4. | Defaulted Receivables | $ | 1,201,110.74 | |||||||||||
| 5. | Pool Balance on the close of the last day of the related Collection Period | $ | 217,809,744.81 | |||||||||||
| (Ln1 - Ln2 - Ln3 - Ln4) | ||||||||||||||
| 6. | Total number of Receivables outstanding on the close of the last day of the related Collection Period | 26,944 | ||||||||||||
| 7. | Initial Pool Balance | $ | 1,604,011,099.07 | |||||||||||
| Beginning of Period | End of Period | |||||||||||||
| 8. | Note Balances | |||||||||||||
|
a. Class A-1 Note Balance
|
$ | 0.00 | $ | 0.00 | ||||||||||
| b. Class A-2 Note Balance | $ | 0.00 | $ | 0.00 | ||||||||||
| c. Class A-3 Note Balance | $ | 0.00 | $ | 0.00 | ||||||||||
| d. Class A-4 Note Balance | $ | 144,400,125.63 | $ | 128,779,717.06 | ||||||||||
| e. Class B Note Balance | $ | 17,650,000.00 | $ | 17,650,000.00 | ||||||||||
| f. Class C Note Balance | $ | 41,700,000.00 | $ | 41,700,000.00 | ||||||||||
| g. Class D Note Balance | $ | 25,670,000.00 | $ | 25,670,000.00 | ||||||||||
| h. Note Balance (sum a - g) | $ | 229,420,125.63 | $ | 213,799,717.06 | ||||||||||
| 9. | Pool Factors | |||||||||||||
| a. Class A-1 Note Pool Factor | 0.0000000 | 0.0000000 | ||||||||||||
| b. Class A-2 Note Pool Factor | 0.0000000 | 0.0000000 | ||||||||||||
| c. Class A-3 Note Pool Factor | 0.0000000 | 0.0000000 | ||||||||||||
| d. Class A-4 Note Pool Factor | 0.9851284 | 0.8785627 | ||||||||||||
| e. Class B Note Pool Factor | 1.0000000 | 1.0000000 | ||||||||||||
| f. Class C Note Pool Factor | 1.0000000 | 1.0000000 | ||||||||||||
| g. Class D Note Pool Factor | 1.0000000 | 1.0000000 | ||||||||||||
| h. Note Pool Factor | 0.1433876 | 0.1336248 | ||||||||||||
| 10. | Overcollateralization Target Amount | $ | 4,010,027.75 | |||||||||||
| 11. | Current overcollateralization amount (Pool Balance - Note Balance) | $ | 4,010,027.75 | |||||||||||
| 12. | Weighted Average Coupon | 8.77 | % | |||||||||||
| 13. | Weighted Average Original Term | months | 68.53 | |||||||||||
| 14. | Weighted Average Remaining Term | months | 21.59 | |||||||||||
| Collections | ||||||||||||||
| 15. | Finance Charges: | |||||||||||||
| a. Collections allocable to Finance Charge | $ | 1,707,343.56 | ||||||||||||
| b. Liquidation Proceeds allocable to Finance Charge | $ | 1,794.53 | ||||||||||||
| c. Purchase Amount allocable to Finance Charge | $ | 0.00 | ||||||||||||
| d. Available Finance Charge Collections (sum a - c) | $ | 1,709,138.09 | ||||||||||||
| 16. | Principal: | |||||||||||||
| a. Collections allocable to Principal | $ | 14,419,297.83 | ||||||||||||
| b. Liquidation Proceeds allocable to Principal | $ | 560,092.04 | ||||||||||||
| c. Purchase Amount allocable to Principal | $ | 0.00 | ||||||||||||
| d. Available Principal Collections (sum a - c) | $ | 14,979,389.87 | ||||||||||||
| 17. | Total Finance Charge and Principal Collections (15d + 16d) | $ | 16,688,527.96 | |||||||||||
| 18. | Interest Income from Collection Account | $ | 49,805.22 | |||||||||||
| 19. | Simple Interest Advances | $ | 0.00 | |||||||||||
| 20. | Available Collections (Ln17 + 18 + 19) | $ | 16,738,333.18 | |||||||||||
| Available Funds | ||||||||||||||
| 21. | Available Collections | $ | 16,738,333.18 | |||||||||||
| 22. | Reserve Account Draw Amount | $ | 0.00 | |||||||||||
| 23. | Available Funds | $ | 16,738,333.18 | |||||||||||
| Application of Available Funds | ||||||||||||||
| 24. | Servicing Fee | 0.15 | % | |||||||||||
| a. Monthly Servicing Fee | $ | 194,525.13 | ||||||||||||
| b. Amount Unpaid from Prior Months | $ | 0.00 | ||||||||||||
| c. Amount Paid | $ | 194,525.13 | ||||||||||||
| d. Shortfall Amount (a + b - c) | $ | 0.00 | ||||||||||||
| 25. | Unreimbursed Servicer Advances | $ | 0.00 | |||||||||||
| 26. | 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 | ||||||||||||
| 27. | 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-2 Monthly Interest | $ | 0.00 | ||||||||||||
| f. Additional Note Interest related to Class A-2 Monthly Interest | $ | 0.00 | ||||||||||||
| g. Interest Due on Additional Note Interest related to Class A-2 Monthly Interest | $ | 0.00 | ||||||||||||
| h. Total Class A-2 Note Interest (sum e - g) | $ | 0.00 | ||||||||||||
| i. Class A-3 Monthly Interest | $ | 0.00 | ||||||||||||
| j. Additional Note Interest related to Class A-3 Monthly Interest | $ | 0.00 | ||||||||||||
| k. Interest Due on Additional Note Interest related to Class A-3 Monthly Interest | $ | 0.00 | ||||||||||||
| l. Total Class A-3 Note Interest (sum i - k) | $ | 0.00 | ||||||||||||
| m. Class A-4 Monthly Interest | $ | 204,566.84 | ||||||||||||
| n. Additional Note Interest related to Class A-4 Monthly Interest | $ | 0.00 | ||||||||||||
| o. Interest Due on Additional Note Interest related to Class A-4 Monthly Interest | $ | 0.00 | ||||||||||||
| p. Total Class A-4 Note Interest (sum m - o) | $ | 204,566.84 | ||||||||||||
| 28. | Priority Principal Distributable Amount | $ | 0.00 | |||||||||||
| 29. | Class B Noteholder Interest Amount | |||||||||||||
| a. Class B Monthly Interest | $ | 28,681.25 | ||||||||||||
| 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) | $ | 28,681.25 | ||||||||||||
| 30. | Secondary Principal Distributable Amount | $ | 0.00 | |||||||||||
| 31. | Class C Noteholder Interest Amount | |||||||||||||
| a. Class C Monthly Interest | $ | 76,450.00 | ||||||||||||
| 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) | $ | 76,450.00 | ||||||||||||
| 32. | Tertiary Principal Distributable Amount | $ | 0.00 | |||||||||||
| 33. | Class D Noteholder Interest Amount | |||||||||||||
| a. Class D Monthly Interest | $ | 52,837.42 | ||||||||||||
| 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) | $ | 52,837.42 | ||||||||||||
| 34. | Quaternary Principal Distributable Amount | $ | 11,610,380.82 | |||||||||||
| 35. | Required Payment Amount (Ln 24 + Ln 26 + (sum of Ln 27 through Ln 34)) | $ | 12,167,441.46 | |||||||||||
| 36. | Reserve Account Deficiency | $ | 0.00 | |||||||||||
| 37. | Regular Principal Distributable Amount | $ | 4,010,027.75 | |||||||||||
| 38. | Remaining Unpaid Servicer Transition Expenses and Additional Servicing Fees, if any | $ | 0.00 | |||||||||||
| 39. | 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 | ||||||||||||
| 40. | Remaining Unpaid Successor Servicer Indemnity Amounts, if any | $ | 0.00 | |||||||||||
| Collection Account Activity | 0.15 | % | ||||||||||||
| 41. | Deposits | |||||||||||||
| a. Total Daily Deposits of Finance Charge Collections | $ | 1,709,138.09 | ||||||||||||
| b. Total Daily Deposits of Principal Collections | $ | 14,979,389.87 | ||||||||||||
| c. Withdrawal from Reserve Account | $ | 0.00 | ||||||||||||
| d. Interest Income | $ | 49,805.22 | ||||||||||||
| e. Total Deposits to Collection Account (sum a - d) | $ | 16,738,333.18 | ||||||||||||
| 42. | Withdrawals | |||||||||||||
| a. Servicing Fee and Unreimbursed Servicer Advances | $ | 194,525.13 | ||||||||||||
| b. Successor Servicer Transition Expenses and Indemnity Amounts | $ | 0.00 | ||||||||||||
| c. Deposit to Note Payment Account for Monthly Note Interest/Principal | $ | 15,982,944.08 | ||||||||||||
| d. Deposit to Reserve Account | $ | 0.00 | ||||||||||||
| e. Excess Collections (Deposit to Certificate Payment Account for payment to Certificateholder) | $ | 560,863.97 | ||||||||||||
| f. Total Withdrawals from Collection Account (sum a - e) | $ | 16,738,333.18 | ||||||||||||
| Note Payment Account Activity | ||||||||||||||
| 43. | Deposits | |||||||||||||
| a. Class A-1 Interest Distribution | $ | 0.00 | ||||||||||||
| b. Class A-2 Interest Distribution | $ | 0.00 | ||||||||||||
| c. Class A-3 Interest Distribution | $ | 0.00 | ||||||||||||
| d. Class A-4 Interest Distribution | $ | 204,566.84 | ||||||||||||
| e. Class B Interest Distribution | $ | 28,681.25 | ||||||||||||
| f. Class C Interest Distribution | $ | 76,450.00 | ||||||||||||
| g. Class D Interest Distribution | $ | 52,837.42 | ||||||||||||
| h. Class A-1 Principal Distribution | $ | 0.00 | ||||||||||||
| i. Class A-2 Principal Distribution | $ | 0.00 | ||||||||||||
| j. Class A-3 Principal Distribution | $ | 0.00 | ||||||||||||
| k. Class A-4 Principal Distribution | $ | 15,620,408.57 | ||||||||||||
| l. Class B Principal Distribution | $ | 0.00 | ||||||||||||
| m. Class C Principal Distribution | $ | 0.00 | ||||||||||||
| n. Class D Principal Distribution | $ | 0.00 | ||||||||||||
| o. Total Deposits to Note Payment Account (sum a - n) | $ | 15,982,944.08 | ||||||||||||
| 44. | Withdrawals | |||||||||||||
| a. Class A-1 Distribution | $ | 0.00 | ||||||||||||
| b. Class A-2 Distribution | $ | 0.00 | ||||||||||||
| c. Class A-3 Distribution | $ | 0.00 | ||||||||||||
| d. Class A-4 Distribution | $ | 15,824,975.41 | ||||||||||||
| e. Class B Distribution | $ | 28,681.25 | ||||||||||||
| f. Class C Distribution | $ | 76,450.00 | ||||||||||||
| g. Class D Distribution | $ | 52,837.42 | ||||||||||||
| h. Total Withdrawals from Note Payment Account (sum a - g) | $ | 15,982,944.08 | ||||||||||||
| Certificate Payment Account Activity | ||||||||||||||
| 45. | Deposits to Certificate Payment Account from Excess Collections | $ | 560,863.97 | |||||||||||
| 46. | Withdrawals from Certificate Payment Account for Certificateholder Distribution | $ | 560,863.97 | |||||||||||
| Required Reserve Account Amount | 0.15 | % | ||||||||||||
| 47. | Required Reserve Account Amount (0.25% of Initial Pool Balance) | $ | 4,010,027.75 | |||||||||||
| Reserve Account Reconciliation | ||||||||||||||
| 48. | Beginning Balance (as of end of preceding Distribution Date) | $ | 4,010,027.75 | |||||||||||
| 49. | Investment Earnings | $ | 13,808.36 | |||||||||||
| 50. | Reserve Account Draw Amount | $ | 0.00 | |||||||||||
| 51. | Reserve Account Amount (Ln 48 + Ln 49 - Ln 50) | $ | 4,023,836.11 | |||||||||||
| 52. | Deposit from Available Funds (Ln 42d) | $ | 0.00 | |||||||||||
| 53. | 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 | ||||||||||||
| 54. | Payment to Depositor if Reserve Account Balance exceeds Required Reserve Account Amount and to the extent no unfunded amounts described in Ln 53 exist | $ | 13,808.36 | |||||||||||
| 55. | Ending Balance (Ln51 + Ln52 - Ln53 - Ln54) | $ | 4,010,027.75 | |||||||||||
| 56. | Reserve Account Deficiency (Ln48 - Ln55) | $ | 0.00 | |||||||||||
| Instructions to the Trustee | ||||||||||||||
| 57. | Amount to be deposited from the Reserve Account into the Collection Account | $ | 0.00 | |||||||||||
| 58. | Amount to be paid to Servicer from the Collection Account | $ | 194,525.13 | |||||||||||
| 59. | Amount to be deposited from the Collection Account into the Note Payment Account | $ | 15,982,944.08 | |||||||||||
| 60. | Amount to be deposited from the Collection Account into the Certificate Payment Account | $ | 560,863.97 | |||||||||||
| 61. | Amount to be deposited from the Collection Account into the Reserve Account | $ | 0.00 | |||||||||||
| 62. | 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 | $ | 13,808.36 | ||||||||||||
| 63. | Amount to be paid to Class A-1 Noteholders from the Note Payment Account | $ | 0.00 | |||||||||||
| 64. | Amount to be paid to Class A-2 Noteholders from the Note Payment Account | $ | 0.00 | |||||||||||
| 65. | Amount to be paid to Class A-3 Noteholders from the Note Payment Account | $ | 0.00 | |||||||||||
| 66. | Amount to be paid to Class A-4 Noteholders from the Note Payment Account | $ | 15,824,975.41 | |||||||||||
| 67. | Amount to be paid to Class B Noteholders from the Note Payment Account | $ | 28,681.25 | |||||||||||
| 68. | Amount to be paid to Class C Noteholders from the Note Payment Account | $ | 76,450.00 | |||||||||||
| 69. | Amount to be paid to Class D Noteholders from the Note Payment Account | $ | 52,837.42 | |||||||||||
| 70. | Amount to be paid to Certificateholders from the Certificate Payment Account with respect to Excess Collections | $ | 560,863.97 | |||||||||||
| Delinquency Activity | ||||||||||||||
| Number of Loans | Principal Balance | |||||||||||||
| 71. | Delinquency Analysis | |||||||||||||
| a. 31 to 60 days past due | 1,103 | $ | 13,177,441.67 | |||||||||||
| b. 61 to 90 days past due | 591 | $ | 7,995,934.06 | |||||||||||
| c. 91 to 120 days past due | 125 | $ | 1,471,160.10 | |||||||||||
| d. 121 or more days past due | 0 | $ | 0.00 | |||||||||||
| e. Total Past Due (sum a - d) | 1,819 | $ | 22,644,535.83 | |||||||||||
| f. Delinquent Loans as a percentage of end of period Pool Balance (Ln 71e / Ln 5) | 10.3965 | % | ||||||||||||
| 72. | Has a Delinquency Trigger Event occurred? | No | ||||||||||||
| Loss Activity | ||||||||||||||
| Number of Loans | Principal Balance | |||||||||||||
| 73. | Defaulted Receivables (charge-offs) | 101 | $ | 1,201,110.74 | ||||||||||
| 74. | Recoveries | 273 | $ | 561,886.57 | ||||||||||
| 75. | Net Losses (Ln 73 - Ln 74) | $ | 639,224.17 | |||||||||||
| 76. | Ratio of Net Losses to Beginning of Period Pool Balance (Ln 75 / Ln 1) | 0.2738 | % | |||||||||||
| Cumulative Loss Activity | ||||||||||||||
| Number of Loans | Principal Balance | |||||||||||||
| 77. | Defaulted Receivables (charge-offs) | 4,303 | $ | 71,183,566.93 | ||||||||||
| 78. | Recoveries | 3,429 | $ | 31,123,652.19 | ||||||||||
| 79. | Cumulative Net Losses (Ln 77 - Ln 78) | $ | 40,059,914.74 | |||||||||||
| 80. | Ratio of Cumulative Net Losses to Initial Pool Balance (Ln 79 / Ln 7) | 2.4975 | % | |||||||||||
| 81. | Average Net Loss on Defaulted Receivables | $ | 9,309.76 | |||||||||||
| Other Servicing Information | ||||||||||||||
| 82. | Principal Balance of Receivables extended during the Collection Period | $ | 5,453,875.71 | |||||||||||
| 83. | Pool Balance on the close of the last day of the preceding Collection Period | $ | 233,430,153.38 | |||||||||||
| 84. | Ratio of extensions to pool balance (Ln 82 / Ln 83) | 2.34 | % | |||||||||||
IN WITNESS WHEREOF, the undersigned has duly executed this certificate on November 10, 2025.
| CARMAX BUSINESS SERVICES, LLC | |||||
| As Servicer | |||||
| By: | /s/ Greg Dostich | ||||
| Name: | Greg Dostich | ||||
| Title: | Vice President and Treasurer | ||||
CarMax Auto Owner Trust 2022-1 published this content on November 17, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on November 17, 2025 at 15:48 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]