@GreenEngineering3475 to BusinessEnglish • 16 days agoCarvana Is Cooking Its Books, Hindenburg Research Claimsgizmodo.comexternal-linkmessage-square5arrow-up175arrow-down11file-text
arrow-up174arrow-down1external-linkCarvana Is Cooking Its Books, Hindenburg Research Claimsgizmodo.com@GreenEngineering3475 to BusinessEnglish • 16 days agomessage-square5file-text
The notorious short seller published a report titled “Carvana: A Father-Son Accounting Grift For The Ages.”
minus-square@TommySodalinkEnglish15•16 days agoI bought a car through them a few years ago during COVID but I’m still paying it off. I wonder what would happen if the company went under. People’s loans and shit would probably just get picked up by other companies, right?
minus-square@Bassman1805linkEnglish22•16 days agoYes. Owning debt is an asset that will certainly be purchased when a company is liquidated.
minus-square@UnderpantsWeevillinkEnglish11•16 days agoThey sell their debt, primarily to Ally Financial. That’s how they generate the bulk of their operating income. So you’d still be paying.
minus-square@PlantJamlinkEnglish3•15 days agoSame. Based on the experience, I’ll never set foot in a dealership again.
I bought a car through them a few years ago during COVID but I’m still paying it off. I wonder what would happen if the company went under. People’s loans and shit would probably just get picked up by other companies, right?
Yes. Owning debt is an asset that will certainly be purchased when a company is liquidated.
They sell their debt, primarily to Ally Financial. That’s how they generate the bulk of their operating income. So you’d still be paying.
Same. Based on the experience, I’ll never set foot in a dealership again.