The notorious short seller published a report titled “Carvana: A Father-Son Accounting Grift For The Ages.”
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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.
Wow that’s audaciously skeezy.
