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True and that makes me worry about Carvana quite a bit. The few anecdotes from pandemic about Carvana bids made think they were prioritizing having cars over ma
by sokoloff 3y ago
True and that makes me worry about Carvana quite a bit. The few anecdotes from pandemic about Carvana bids made think they were prioritizing having cars over making money.
- toomuchtodo 3y agoCarvana is an auto loan originator that used cars to originate loans. Can’t sell securitized auto loans without the cars. https://www.cnbc.com/2023/01/18/carvana-adopts-poison-pill-and-sells-4-billion-of-auto-loans.html https://www.cnbc.com/2023/01/18/carvana-adopts-poison-pill-a...
- maxerickson 3y agoLots of financial institutions have car buyers that assist customers, because they make money originating loans. They just do it "for profit" instead of "at scale".
- PaulHoule 3y agoI think it's a crazy competitive business. The new car dealer is always getting cars off lease, there's the Buick enthusiast who always has a few, the guy who brings up old police cars from Southern PA, etc. If you are spending all your money on expensive TV ads and silly vending machines you can't win.
- deleted 3y ago[deleted]
- oifgedg 3y agoThey were prioritizing growth. A common priority for firms seeking boom or bust returns.