| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | KBRA |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 56.1 | 11.1% | 7.45% | 0.23 | 5.65% | +25 I-curve | 2025-06-10 | A-1+ | K1+ |
| Class A-2 | 161.0 | 31.7% | 7.45% | 1.07 | 5.63% | +62 I-curve | 2027-11-10 | AAA | AAA |
| Class A-3 | 161.0 | 31.7% | 7.45% | 2.49 | 5.33% | +75 I-curve | 2029-07-10 | AAA | AAA |
| Class A-4 | 93.8 | 18.5% | 7.45% | 3.98 | 5.21% | +83 I-curve | 2030-06-10 | AAA | AAA |
| Class B | 17.8 | 3.5% | 3.95% | 4.95 | 5.38% | +110 I-curve | 2030-08-10 | AA | AA+ |
| Class C | 8.9 | 1.7% | 2.20% | 5.31 | 5.57% | +130 I-curve | 2030-10-10 | A+ | A+ |
| Class D | 8.6 | 1.7% | 0.50% | 5.41 | 6.10% | +185 I-curve | 2031-06-10 | BBB | BBB+ |
| Class N | 15.0 | 3.0% | — | 0.29 | 7.03% | +175 I-curve | — | BB+ | BBB |
Enhancement: subordinate notes, overcollateralization and reserve beneath the class, as a share of the pool net of any yield supplement (the adjusted pool, as the issuers and rating agencies measure it); the Class A notes share losses pari passu, so each carries the same figure. Spread: basis points over the benchmark named beside it, from the pricing term sheet — the interpolated curve for fixed-rate classes, 30-day average SOFR for floaters; the two are not comparable. A class marked retained was kept by the depositor, as the prospectus states.
| Sponsor | Carvana, LLC |
|---|---|
| Servicer | Bridgecrest Credit Company, LLC |
| Depositor / Transferor | Carvana Receivables Depositor LLC |
| Indenture Trustee | Computershare Trust Company, N.A |
| Owner Trustee | BNY Mellon Trust of Delaware |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BNP Paribas Securities, Citigroup Global Markets |
| CRVNA 2024-P2 | CRVNA 2022-P3 | CRVNA 2022-P2 | CRVNA 2022-P1 | CRVNA 2021-P4 | CRVNA 2021-N4 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-06-12 | 2022-09-08 | 2022-05-25 | 2022-03-30 | 2021-12-29 | 2021-12-15 | 424B5 |
| Pool balance | $507.2MM | $364.0MM | $605.0MM | $1,039.5MM | $1,055.0MM | $460.0MM | 424B5 |
| WA Credit Score | 702−2 | 704 | 704 | 704 | 704 | 578 | 424B5 |
| WA APR | 13.61%+4.52pp | 10.27% | 9.09% | 7.62% | 8.07% | 18.82% | 424B5 |
| WA original term mo | 72.0+1.0 | 71.0 mo | 71.0 mo | 71.0 mo | 71.0 mo | 72.0 mo | 424B5 |
| % new vehicles | — | — | — | — | — | — | 424B5 |
| Geo top-3 | TX 10.6% CA 8.8% GA 6.6% | TX 11.1% CA 8.6% FL 6.0% | TX 9.5% CA 9.2% FL 7.0% | TX 9.7% CA 9.5% FL 7.5% | TX 9.2% CA 8.7% FL 7.0% | TX 10.9% CA 7.0% FL 6.9% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 7.45%−2.20pp | 9.65% | 9.65% | 9.85% | 8.25% | 49.85% | calc |
| Enhancement, target | 7.65% | 11.00% | 11.00% | 10.85% | 8.60% | 52.85% | calc |
| Subordinate notes | 7.0%−2.0pp | 9.2% | 9.0% | 8.6% | 7.8% | 48.6% | calc |
| OC (initial) | 0.00% | 0.00% | 0.00% | 0.70% | 0.00% | 0.00% | 424B5 |
| OC target | 0.20% | 1.35% | 1.35% | 1.70% | 0.35% | 3.00% | 424B5 |
| OC floor | 0.20% | 1.35% | 1.35% | 0.70% | 0.35% | 1.25% | 424B5 |
| Reserve account | 0.50% | 0.50% | 0.65% | 0.60% | 0.50% | 1.25% | 424B5 |
| YSOC | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | +75 bps−7bps A-3 · 2.5y | +120 bps A-3 · 2.6y | — | — | — | +45 bps A-1 · 0.9y | FWP |
| Terms | |||||||
| Tranches | 8 | 8 | 7 | 8 | 8 | 7 | FWP |
Enhancement: subordinate notes, overcollateralization and the reserve account as a share of the cutoff-date pool — the losses the pool can absorb before the AAA term notes are touched. AAA spread: the pricing spread over the interpolated curve for the fixed-rate AAA class whose weighted-average life is nearest two years, with that class and its WAL shown; floating-rate classes are never used. Source: 424B5 = final prospectus, FWP = pricing term sheet, calc = derived from the above. Deltas are against the peer median; green means more protection, or a cheaper price for it, for the noteholder.
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
| CRVNA 2024-P2 | BMWOT 2024-A | AMCAR 2024-1 | EART 2024-3 | HDMT 2024-A | NAROT 2024-A | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-06-12 | 2024-06-11 | 2024-05-29 | 2024-05-28 | 2024-05-22 | 2024-05-22 | 424B5 |
| Pool balance | $507.2MM | $1,910.0MM | $1,675.9MM | $869.8MM | $607.8MM | $1,424.1MM | 424B5 |
| WA Credit Score | 702−56 | 789 | 588 | 591 | 758 | 780 | 424B5 |
| WA APR | 13.61%+4.18pp | 5.35% | 16.18% | 22.92% | 9.43% | 4.81% | 424B5 |
| WA original term mo | 72.0+1.5 | 63.6 mo | 71.0 mo | 74.0 mo | 70.0 mo | — | 424B5 |
| % new vehicles | — | 68.2% | 56.9% | — | 70.5% | 10.5% | 424B5 |
| Geo top-3 | TX 10.6% CA 8.8% GA 6.6% | CA 16.7% TX 13.2% FL 11.0% | TX 16.3% FL 7.4% OH 7.1% | TX 15.4% CA 9.6% FL 8.0% | TX 11.3% CA 9.9% FL 8.6% | TX 17.8% FL 9.5% CA 6.6% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 7.45%+2.45pp | 2.75% | 32.10% | 57.75% | 5.00% | 4.25% | calc |
| Enhancement, target | 7.65% | 2.75% | 41.10% | 66.75% | 5.00% | 4.25% | calc |
| Subordinate notes | 7.0%+7.0pp | 0.0% | 25.3% | 50.5% | 0.0% | 0.0% | calc |
| OC (initial) | 0.00% | 2.50% | 5.75% | 6.25% | 4.75% | 4.00% | 424B5 |
| OC target | 0.20% | 2.50% | 14.75% | 15.25% | 4.75% | 4.00% | 424B5 |
| OC floor | 0.20% | 2.50% | — | 1.50% | 4.75% | 4.00% | 424B5 |
| Reserve account | 0.50% | 0.25% | 1.00% | 1.00% | 0.25% | 0.25% | 424B5 |
| YSOC | n.a. | 6.03% | — | n.a. | n.a. | 8.57% | 424B5 |
| Pricing | |||||||
| AAA spread | +75 bps+7bps A-3 · 2.5y | +54 bps A-3 · 2.3y | +68 bps A-3 · 2.0y | +68 bps A-3 · 1.3y | +68 bps A-3 · 2.3y | +58 bps A-3 · 2.3y | FWP |
| Terms | |||||||
| Tranches | 8 | 5 | 8 | 7 | 4 | 5 | FWP |
Enhancement: subordinate notes, overcollateralization and the reserve account as a share of the cutoff-date pool — the losses the pool can absorb before the AAA term notes are touched. AAA spread: the pricing spread over the interpolated curve for the fixed-rate AAA class whose weighted-average life is nearest two years, with that class and its WAL shown; floating-rate classes are never used. Source: 424B5 = final prospectus, FWP = pricing term sheet, calc = derived from the above. Deltas are against the peer median; green means more protection, or a cheaper price for it, for the noteholder.
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
No performance data available for this issuer.
Interactive view: Performance ↗