4 ms·
Carvana is owned by Drivetime, They make money because they supply the note when it's sold. Markup to 23k, APR at 23% or whatever is the legal limit. Their m
by rootsudo 5y ago
Carvana is owned by Drivetime,
They make money because they supply the note when it's sold.
Markup to 23k, APR at 23% or whatever is the legal limit.
Their main target audience is subprime lenders. Cars depreciate normally, and this can be another bubble that will burst in the next 2-4 years that may or may not drive electric car adaption.
- gtk40 5y ago> Carvana is owned by Drivetime Can you find a citation for this? Looks like an independent company now. https://www.nyse.com/quote/XNYS:CVNA https://www.nyse.com/quote/XNYS:CVNA
- rootsudo 5y agohttps://investors.carvana.com/ https://investors.carvana.com/ https://www.forbes.com/sites/nathanvardi/2017/12/18/how-an-ex-con-became-a-billionaire-from-used-cars/?sh=5d7115466d3f https://www.forbes.com/sites/nathanvardi/2017/12/18/how-an-e... https://asreport.americanbanker.com/news/drivetime-issues-fourth-deep-subprime-auto-abs-of-the-year https://asreport.americanbanker.com/news/drivetime-issues-fo...
- hoffspot 5y agoThat's great insight. Do they hold the notes or package and sell them off? Would be interesting to follow the money and short the ultimate debt holders if the market appears to be bubble prone within the timeframe you stated.
- throwaway0a5e 5y agoExactly. TFA is just "wow I can't believe BHPH dealers will buy X for Y" but with higher numbers and higher class.