Carvana. The Vending Machine that Sells Stolen Cars | Corporate Casket

Go to http://shipstation.com and use code CASKET to get a free
60-day trial. Go to http://stitchfix.com/casket to get $20 off your
first purchase. Welcome to the Corporate Casket, a semiweekly
series where bad businesses go to die. We will discuss any and
everything from bad charities, terrible CEOs, and businesses that
have a lot to hide. Carvana makes their money through financing.
Not from the sale of the vehicle. Carvana itself says that 80% of
their buyers use Carvana as a financer. Here's the problem with
that. They offer securitized subprime autoloans, subprime meaning
high risk (no or little credit). Then they sell these debts to
investors, offloading them. (Carvana was hanging onto loans in
covid times, when people were less likely to default, to make that
money/profit.) Connect with me: https://linktr.ee/iilluminaughtii
Sources: hhttps://justpaste.it/2wzt2 Writers/Researchers/Helpers:
Ali-Z This episode was edited and mixed by: G. Thomas Craig  
Album cover art created by: Betsy Primes Intro Song Credits: Last
to Fall- Will Van De Crommert Outro Song Credits: Sacred and
Profane- Nicholas Rowe  Learn more about your ad choices.
Visit megaphone.fm/adchoices