The Richmond-based company, which has 100 stores, reduced its borrowing facility limit to $1.2 billion from $1.4 billion. As of Friday, CarMax said its unused capacity totaled $768 million.

Funding costs for the yearly renewal also increased, the company said.

In June, CarMax's auto financing arm reported a loss of $21.6 million for its fiscal first quarter compared with a profit of $9.8 million in the year-ago period, saying its costs to finance cars had risen. The volume of loans originated and sold by its financing arm dropped 27 percent from the year-ago period due to a decrease in sales and the company's decision to decrease the amount of in-house lending.

A service of YellowBrix, Inc.