They do a lot less of this now. Bulk of finance receivables are just pushed off onto Ally through forward-flow, not through CVNA sponsored securitizations.
They make a bit on the forward-flows, but it's dwarfed by the rest of the purported business model.
They really are just a (bad) car business. They need an absolutely astronomical amount of sales to support the bloated, debt laden company when they have unimpressive gross margins.
Puzzleheaded_War6849 t1_j9h87lf wrote
Reply to comment by DYTTIGAF in Just want to get to the carvana earnings s*** show by rocket_man19
They do a lot less of this now. Bulk of finance receivables are just pushed off onto Ally through forward-flow, not through CVNA sponsored securitizations.
They make a bit on the forward-flows, but it's dwarfed by the rest of the purported business model.
They really are just a (bad) car business. They need an absolutely astronomical amount of sales to support the bloated, debt laden company when they have unimpressive gross margins.
It's probably a $0 by 2025.