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Good call out. You have to wonder if Bridgecrest is really doing full risk reviews of the loans they are buying from Carvana or if the DriveTime/family connecti
by mmcconnell1618 5y ago
Good call out. You have to wonder if Bridgecrest is really doing full risk reviews of the loans they are buying from Carvana or if the DriveTime/family connection is influencing the process. If Carvana could sell those bundles to other buyers at the same price, maybe everything is legit. On the other hand, if Bridgecrest is purchasing bundles that Carvana would have a difficult time selling to others, then Bridgecrest would be artificially propping up the financial performance of Carvana.
- ssharp 5y agoI was given a rate by Carvana without having any credit pulled. You just give them your income and they'll start quoting you rates and the rates aren't particularly attractive if you have good credit. If people are actually taking those loans, there seems to be a decent amount of excess risk at play. I'm assuming Carvana eventually does pull your credit but I doubt they're lowering rates after doing so.