| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 70.9 | 11.1% | 8.00% | 0.22 | 5.20% | +20 I-curve | 2025-10-10 | A-1+ | — |
| Class A-2 | 181.2 | 28.4% | 8.00% | 0.99 | 4.61% | +60 I-curve | 2027-11-10 | AAA | Aaa |
| Class A-3 | 221.2 | 34.6% | 8.00% | 2.40 | 4.26% | +75 I-curve | 2029-10-10 | AAA | Aaa |
| Class A-4 | 117.5 | 18.4% | 8.00% | 3.94 | 4.31% | +90 I-curve | 2030-09-10 | AAA | Aaa |
| Class B | 16.6 | 2.6% | 5.40% | 4.83 | 4.53% | +115 I-curve | 2030-11-10 | AA+ | Aa2 |
| Class C | 20.4 | 3.2% | 2.20% | 5.20 | 4.74% | +135 I-curve | 2031-01-10 | A+ | A2 |
| Class D | 10.9 | 1.7% | 0.50% | 5.48 | 5.39% | +200 I-curve | 2032-09-10 | BBB+ | Baa1 |
| Class N | 22.8 | 3.6% | — | 0.28 | 6.53% | +170 I-curve | — | — | — |
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-P3 | CRVNA 2024-P2 | CRVNA 2022-P3 | CRVNA 2022-P2 | CRVNA 2022-P1 | CRVNA 2021-P4 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-09-17 | 2024-06-12 | 2022-09-08 | 2022-05-25 | 2022-03-30 | 2021-12-29 | 424B5 |
| Pool balance | $638.7MM | $507.2MM | $364.0MM | $605.0MM | $1,039.5MM | $1,055.0MM | 424B5 |
| WA Credit Score | 701−3 | 702 | 704 | 704 | 704 | 704 | 424B5 |
| WA APR | 13.69%+4.60pp | 13.61% | 10.27% | 9.09% | 7.62% | 8.07% | 424B5 |
| WA original term mo | 72.0+1.0 | 72.0 mo | 71.0 mo | 71.0 mo | 71.0 mo | 71.0 mo | 424B5 |
| % new vehicles | — | — | — | — | — | — | 424B5 |
| Geo top-3 | TX 10.9% CA 8.2% GA 6.6% | 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% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 8.00%−1.65pp | 7.45% | 9.65% | 9.65% | 9.85% | 8.25% | calc |
| Enhancement, target | 8.20% | 7.65% | 11.00% | 11.00% | 10.85% | 8.60% | calc |
| Subordinate notes | 7.5%−1.0pp | 7.0% | 9.2% | 9.0% | 8.6% | 7.8% | calc |
| OC (initial) | 0.00% | 0.00% | 0.00% | 0.00% | 0.70% | 0.00% | 424B5 |
| OC target | 0.20% | 0.20% | 1.35% | 1.35% | 1.70% | 0.35% | 424B5 |
| OC floor | 0.20% | 0.20% | 1.35% | 1.35% | 0.70% | 0.35% | 424B5 |
| Reserve account | 0.50% | 0.50% | 0.50% | 0.65% | 0.60% | 0.50% | 424B5 |
| YSOC | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | +75 bps−22bps A-3 · 2.4y | +75 bps A-3 · 2.5y | +120 bps A-3 · 2.6y | — | — | — | FWP |
| Terms | |||||||
| Tranches | 8 | 8 | 8 | 7 | 8 | 8 | 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-P3 | HAROT 2024-3 | SDART 2024-4 | WOART 2024-C | CAOT 2024-3 | EART 2024-4 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-09-17 | 2024-08-21 | 2024-08-21 | 2024-08-20 | 2024-07-30 | 2024-07-30 | 424B5 |
| Pool balance | $638.7MM | $2,159.2MM | $1,989.0MM | $1,312.6MM | $1,414.1MM | $925.3MM | 424B5 |
| WA Credit Score | 701−55 | 768 | 604 | 756 | 758 | 599 | 424B5 |
| WA APR | 13.69%+4.16pp | 4.71% | 18.57% | 6.67% | 9.53% | 22.00% | 424B5 |
| WA original term mo | 72.0+3.9 | 61.3 mo | 71.3 mo | 68.1 mo | 66.0 mo | 75.0 mo | 424B5 |
| % new vehicles | — | 85.3% | 30.4% | 96.2% | 0.0% | — | 424B5 |
| Geo top-3 | TX 10.9% CA 8.2% GA 6.6% | CA 16.2% TX 9.7% NY 6.7% | TX 15.9% FL 11.8% CA 8.9% | — | CA 17.4% TX 10.7% FL 8.0% | TX 15.7% CA 10.3% FL 8.1% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 8.00%+3.00pp | 2.75% | 41.65% | 4.75% | 5.00% | 58.35% | calc |
| Enhancement, target | 8.20% | — | 46.65% | 5.65% | 5.25% | 68.10% | calc |
| Subordinate notes | 7.5%+3.0pp | 0.0% | 31.7% | 4.5% | 3.8% | 51.4% | calc |
| OC (initial) | 0.00% | 2.50% | 8.95% | 0.00% | 1.00% | 6.00% | 424B5 |
| OC target | 0.20% | — | 13.95% | 0.90% | 1.25% | 15.75% | 424B5 |
| OC floor | 0.20% | — | 2.00% | 0.50% | 1.25% | 1.50% | 424B5 |
| Reserve account | 0.50% | 0.25% | 1.00% | 0.25% | 0.25% | 1.00% | 424B5 |
| YSOC | n.a. | n.a. | n.a. | 7.77% | n.a. | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | +75 bps+12bps A-3 · 2.4y | +63 bps A-3 · 2.3y | +80 bps A-3 · 1.8y | +67 bps A-3 · 2.8y | +62 bps A-3 · 2.7y | +60 bps A-3 · 1.3y | FWP |
| Terms | |||||||
| Tranches | 8 | 4 | 6 | 7 | 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.
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 ↗