CarMax Auto Owner Trust 2022-3
10/15/2025 | Press release | Distributed by Public on 10/15/2025 12:19
Asset-Backed Issuer Distribution Report (Form 10-D)
MONTHLY SERVICER'S CERTIFICATE
CARMAX BUSINESS SERVICES, LLC
CARMAX AUTO OWNER TRUST
SERIES 2022-3
| Collection Period | 09/01/25-09/30/25 | |||||||||||||
| Determination Date | 10/9/25 | |||||||||||||
| Distribution Date | 10/15/2025 | |||||||||||||
| Additional information, including defined terms, can be found in the prospectus on the SEC's EDGAR system (http://www.sec.gov) under File No. 333-260819-03. | ||||||||||||||
| Pool Balance | ||||||||||||||
| 1. | Pool Balance on the close of the last day of the preceding Collection Period | $ | 323,072,429.38 | |||||||||||
| 2. | Collections allocable to Principal | $ | 16,722,136.55 | |||||||||||
| 3. | Purchase Amount allocable to Principal | $ | 0.00 | |||||||||||
| 4. | Defaulted Receivables | $ | 1,356,143.86 | |||||||||||
| 5. | Pool Balance on the close of the last day of the related Collection Period | $ | 304,994,148.97 | |||||||||||
| (Ln1 - Ln2 - Ln3 - Ln4) | ||||||||||||||
| 6. | Total number of Receivables outstanding on the close of the last day of the related Collection Period | 28,380 | ||||||||||||
| 7. | Initial Pool Balance | $ | 1,421,320,054.01 | |||||||||||
| 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 | $ | 89,482,628.57 | $ | 71,404,348.16 | ||||||||||
| e. Class A-4 Note Balance | $ | 107,090,000.00 | $ | 107,090,000.00 | ||||||||||
| f. Class B Note Balance | $ | 35,540,000.00 | $ | 35,540,000.00 | ||||||||||
| g. Class C Note Balance | $ | 35,540,000.00 | $ | 35,540,000.00 | ||||||||||
| h. Class D Note Balance | $ | 34,100,000.00 | $ | 34,100,000.00 | ||||||||||
| i. Note Balance (sum a - h) | $ | 301,752,628.57 | $ | 283,674,348.16 | ||||||||||
| 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 | 0.2008273 | 0.1602539 | ||||||||||||
| 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 | 0.2155376 | 0.2026245 | ||||||||||||
| 10. | Overcollateralization Target Amount | $ | 21,319,800.81 | |||||||||||
| 11. | Current overcollateralization amount (Pool Balance - Note Balance) | $ | 21,319,800.81 | |||||||||||
| 12. | Weighted Average Coupon | 8.74 | % | |||||||||||
| 13. | Weighted Average Original Term | months | 67.59 | |||||||||||
| 14. | Weighted Average Remaining Term | months | 26.70 | |||||||||||
| 15. | 30 day Average SOFR for the accrual period ending 10/14/2025 | 4.37208 | % | |||||||||||
| 16. | Note Rate applicable to the Class A-2b notes for the interest period ending 10/14/2025 | N/A | ||||||||||||
| Collections | ||||||||||||||
| 17. | Finance Charges: | |||||||||||||
| a. Collections allocable to Finance Charge | $ | 2,340,969.75 | ||||||||||||
| b. Liquidation Proceeds allocable to Finance Charge | $ | 2,096.00 | ||||||||||||
| c. Purchase Amount allocable to Finance Charge | $ | 0.00 | ||||||||||||
| d. Available Finance Charge Collections (sum a - c) | $ | 2,343,065.75 | ||||||||||||
| 18. | Principal: | |||||||||||||
| a. Collections allocable to Principal | $ | 16,722,136.55 | ||||||||||||
| b. Liquidation Proceeds allocable to Principal | $ | 490,062.79 | ||||||||||||
| c. Purchase Amount allocable to Principal | $ | 0.00 | ||||||||||||
| d. Available Principal Collections (sum a - c) | $ | 17,212,199.34 | ||||||||||||
| 19. | Total Finance Charge and Principal Collections (17d + 18d) | $ | 19,555,265.09 | |||||||||||
| 20. | Interest Income from Collection Account | $ | 52,915.77 | |||||||||||
| 21. | Simple Interest Advances | $ | 0.00 | |||||||||||
| 22. | Available Collections (Ln19 + 20 + 21) | $ | 19,608,180.86 | |||||||||||
| Available Funds | ||||||||||||||
| 23. | Available Collections | $ | 19,608,180.86 | |||||||||||
| 24. | Reserve Account Draw Amount | $ | 0.00 | |||||||||||
| 25. | Available Funds | $ | 19,608,180.86 | |||||||||||
| Application of Available Funds | ||||||||||||||
| 26. | Servicing Fee | 0.15 | % | |||||||||||
| a. Monthly Servicing Fee | $ | 269,227.02 | ||||||||||||
| b. Amount Unpaid from Prior Months | $ | 0.00 | ||||||||||||
| c. Amount Paid | $ | 269,227.02 | ||||||||||||
| 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 | $ | 0.00 | ||||||||||||
| 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) | $ | 0.00 | ||||||||||||
| i. Class A-2b Monthly Interest | $ | 0.00 | ||||||||||||
| 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) | $ | 0.00 | ||||||||||||
| m. Class A-3 Monthly Interest | $ | 296,038.36 | ||||||||||||
| 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) | $ | 296,038.36 | ||||||||||||
| q. Class A-4 Monthly Interest | $ | 362,321.17 | ||||||||||||
| 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) | $ | 362,321.17 | ||||||||||||
| 30. | Priority Principal Distributable Amount | $ | 0.00 | |||||||||||
| 31. | Class B Noteholder Interest Amount | |||||||||||||
| a. Class B Monthly Interest | $ | 138,902.17 | ||||||||||||
| 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) | $ | 138,902.17 | ||||||||||||
| 32. | Secondary Principal Distributable Amount | $ | 0.00 | |||||||||||
| 33. | Class C Noteholder Interest Amount | |||||||||||||
| a. Class C Monthly Interest | $ | 147,491.00 | ||||||||||||
| 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) | $ | 147,491.00 | ||||||||||||
| 34. | Tertiary Principal Distributable Amount | $ | 0.00 | |||||||||||
| 35. | Class D Noteholder Interest Amount | |||||||||||||
| a. Class D Monthly Interest | $ | 176,183.33 | ||||||||||||
| 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) | $ | 176,183.33 | ||||||||||||
| 36. | Quaternary Principal Distributable Amount | $ | - | |||||||||||
| 37. | Required Payment Amount (Ln 26 + Ln 28 + (sum of Ln 29 through Ln 36)) | $ | 1,390,163.05 | |||||||||||
| 38. | Reserve Account Deficiency | $ | 0.00 | |||||||||||
| 39. | Regular Principal Distributable Amount | $ | 18,078,280.41 | |||||||||||
| 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 | $ | 2,343,065.75 | ||||||||||||
| b. Total Daily Deposits of Principal Collections | $ | 17,212,199.34 | ||||||||||||
| c. Withdrawal from Reserve Account | $ | 0.00 | ||||||||||||
| d. Interest Income | $ | 52,915.77 | ||||||||||||
| e. Total Deposits to Collection Account (sum a - d) | $ | 19,608,180.86 | ||||||||||||
| 44. | Withdrawals | |||||||||||||
| a. Servicing Fee and Unreimbursed Servicer Advances | $ | 269,227.02 | ||||||||||||
| b. Successor Servicer Transition Expenses and Indemnity Amounts | $ | 0.00 | ||||||||||||
| c. Deposit to Note Payment Account for Monthly Note Interest/Principal | $ | 19,199,216.44 | ||||||||||||
| d. Deposit to Reserve Account | $ | 0.00 | ||||||||||||
| e. Excess Collections (Deposit to Certificate Payment Account for payment to Certificateholder) | $ | 139,737.40 | ||||||||||||
| f. Total Withdrawals from Collection Account (sum a - e) | $ | 19,608,180.86 | ||||||||||||
| Note Payment Account Activity | ||||||||||||||
| 45. | Deposits | |||||||||||||
| a. Class A-1 Interest Distribution | $ | 0.00 | ||||||||||||
| b. Class A-2a Interest Distribution | $ | 0.00 | ||||||||||||
| c. Class A-2b Interest Distribution | $ | 0.00 | ||||||||||||
| d. Class A-3 Interest Distribution | $ | 296,038.36 | ||||||||||||
| e. Class A-4 Interest Distribution | $ | 362,321.17 | ||||||||||||
| f. Class B Interest Distribution | $ | 138,902.17 | ||||||||||||
| g. Class C Interest Distribution | $ | 147,491.00 | ||||||||||||
| h. Class D Interest Distribution | $ | 176,183.33 | ||||||||||||
| 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 | $ | 18,078,280.41 | ||||||||||||
| 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) | $ | 19,199,216.44 | ||||||||||||
| 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 | $ | 18,374,318.77 | ||||||||||||
| e. Class A-4 Distribution | $ | 362,321.17 | ||||||||||||
| f. Class B Distribution | $ | 138,902.17 | ||||||||||||
| g. Class C Distribution | $ | 147,491.00 | ||||||||||||
| h. Class D Distribution | $ | 176,183.33 | ||||||||||||
| i. Total Withdrawals from Note Payment Account (sum a - h) | $ | 19,199,216.44 | ||||||||||||
| Certificate Payment Account Activity | ||||||||||||||
| 47. | Deposits to Certificate Payment Account from Excess Collections | $ | 139,737.40 | |||||||||||
| 48. | Withdrawals from Certificate Payment Account for Certificateholder Distribution | $ | 139,737.40 | |||||||||||
| Required Reserve Account Amount | 0.15 | % | ||||||||||||
| 49. | Required Reserve Account Amount (1.00% of Initial Pool Balance) | $ | 5,685,280.22 | |||||||||||
| Reserve Account Reconciliation | ||||||||||||||
| 50. | Beginning Balance (as of end of preceding Distribution Date) | $ | 5,685,280.22 | |||||||||||
| 51. | Investment Earnings | $ | 19,198.23 | |||||||||||
| 52. | Reserve Account Draw Amount | $ | 0.00 | |||||||||||
| 53. | Reserve Account Amount (Ln 50 + Ln 51 - Ln 52) | $ | 5,704,478.45 | |||||||||||
| 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 | $ | 19,198.23 | |||||||||||
| 57. | Ending Balance (Ln53 + Ln54 - Ln55 - Ln56) | $ | 5,685,280.22 | |||||||||||
| 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 | $ | 269,227.02 | |||||||||||
| 61. | Amount to be deposited from the Collection Account into the Note Payment Account | $ | 19,199,216.44 | |||||||||||
| 62. | Amount to be deposited from the Collection Account into the Certificate Payment Account | $ | 139,737.40 | |||||||||||
| 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 | $ | 19,198.23 | ||||||||||||
| 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 | $ | 18,374,318.77 | |||||||||||
| 69. | Amount to be paid to Class A-4 Noteholders from the Note Payment Account | $ | 362,321.17 | |||||||||||
| 70. | Amount to be paid to Class B Noteholders from the Note Payment Account | $ | 138,902.17 | |||||||||||
| 71. | Amount to be paid to Class C Noteholders from the Note Payment Account | $ | 147,491.00 | |||||||||||
| 72. | Amount to be paid to Class D Noteholders from the Note Payment Account | $ | 176,183.33 | |||||||||||
| 73. | Amount to be paid to Certificateholders from the Certificate Payment Account with respect to Excess Collections | $ | 139,737.40 | |||||||||||
| Delinquency Activity | ||||||||||||||
| Number of Loans | Principal Balance | |||||||||||||
| 74. | Delinquency Analysis | |||||||||||||
| a. 31 to 60 days past due | 1,011 | $ | 15,275,468.99 | |||||||||||
| b. 61 to 90 days past due | 636 | $ | 10,083,064.65 | |||||||||||
| c. 91 to 120 days past due | 129 | $ | 1,945,591.67 | |||||||||||
| d. 121 or more days past due | 0 | $ | 0.00 | |||||||||||
| e. Total Past Due (sum a - d) | 1,776 | $ | 27,304,125.31 | |||||||||||
| f. Delinquent Loans as a percentage of end of period Pool Balance (Ln 74e / Ln 5) | 8.9523 | % | ||||||||||||
| 75. | Has a Delinquency Trigger Event occurred? | No | ||||||||||||
| Loss Activity | ||||||||||||||
| Number of Loans | Principal Balance | |||||||||||||
| 76. | Defaulted Receivables (charge-offs) | 105 | $ | 1,356,143.86 | ||||||||||
| 77. | Recoveries | 263 | $ | 492,158.79 | ||||||||||
| 78. | Net Losses (Ln 76 - Ln 77) | $ | 863,985.07 | |||||||||||
| 79. | Ratio of Net Losses to Beginning of Period Pool Balance (Ln 78 / Ln 1) | 0.2674 | % | |||||||||||
| Cumulative Loss Activity | ||||||||||||||
| Number of Loans | Principal Balance | |||||||||||||
| 80. | Defaulted Receivables (charge-offs) | 3,881 | $ | 69,334,897.72 | ||||||||||
| 81. | Recoveries | 3,036 | $ | 27,025,082.03 | ||||||||||
| 82. | Cumulative Net Losses (Ln 80 - Ln 81) | $ | 42,309,815.69 | |||||||||||
| 83. | Ratio of Cumulative Net Losses to Initial Pool Balance (Ln 82 / Ln 7) | 2.9768 | % | |||||||||||
| 84. | Average Net Loss on Defaulted Receivables | $ | 10,901.78 | |||||||||||
| Other Servicing Information | ||||||||||||||
| 85. | Principal Balance of Receivables extended during the Collection Period | $ | 4,062,131.77 | |||||||||||
| 86. | Pool Balance on the close of the last day of the preceding Collection Period | $ | 323,072,429.38 | |||||||||||
| 87. | Ratio of extensions to pool balance (Ln 85 / Ln 86) | 1.26 | % | |||||||||||
IN WITNESS WHEREOF, the undersigned has duly executed this certificate on October 9, 2025.
| CARMAX BUSINESS SERVICES, LLC | |||||
| As Servicer | |||||
| By: | /s/ Greg Dostich | ||||
| Name: | Greg Dostich | ||||
| Title: | Vice President and Treasurer | ||||
CarMax Auto Owner Trust 2022-3 published this content on October 15, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on October 15, 2025 at 18:19 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]