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 by: Catechism: https://www.youtube.com/channel/UC1X38twKH-ePKOMQclh8a6g & Kelpie & Michael: https://www.flowcode.com/page/michaelseim & The Mysterious Brian This episode's audio was mixed by: G. Thomas Craig Artists: Sprites made by https://plegberb.tumblr.com/ Outro song is Cake by Retrovision You made it all the way to the bottom of my description box so, hello there. #iilluminaughtii 00:00: Intro 10:55: The Business 16:05: Garcia 21:39: AD 24:22: Who is Carvana? 28:08: Outro