Carvana’s success rides on used-car loans
My gut feel is we can tuck this away for future financial crisis reporting:
<i>&quot;Carvana uses a related party, Bridgecrest Acceptance Corp., for loan servicing. Bridgecrest is owned by DriveTime Automotive Group, a Tempe, Ariz.-based used-car dealer. Carvana was spun out of DriveTime, which is owned by Ernie Garcia II. He owns around 45% of Carvana and is the father of its CEO.&quot;</i>