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Carvana originations taper amid debt restructure

Receivables held for sale landed at $1.1B, up from $393M YoY

Joey Pizzolato

Carvana’s loan sales in the second quarter outpaced origination volume and drove up finance gross profit per unit as the automotive retailer restructured its unsecured debt to its largest bond holders. Originations clocked in at $1.5 billion, down 24.2% YoY but up 7% on a sequential basis, according to the company’s letter to shareholders. Principal loan sales during […]

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