| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 68.6 | 11.0% | 8.00% | 0.22 | 4.54% | +15 I-curve | 2025-12-10 | A-1+ | P-1 |
| Class A-2 | 177.0 | 28.3% | 8.00% | 0.99 | 4.62% | +45 I-curve | 2028-02-10 | AAA | Aaa |
| Class A-3 | 217.0 | 34.7% | 8.00% | 2.40 | 4.64% | +55 I-curve | 2030-01-10 | AAA | Aaa |
| Class A-4 | 115.7 | 18.5% | 8.00% | 3.94 | 4.74% | +68 I-curve | 2030-12-10 | AAA | Aaa |
| Class B | 16.2 | 2.6% | 5.40% | 4.84 | 5.00% | +95 I-curve | 2031-02-10 | AA+ | Aa2 |
| Class C | 20.0 | 3.2% | 2.20% | 5.22 | 5.10% | +105 I-curve | 2031-05-10 | A+ | A2 |
| Class D | 10.6 | 1.7% | 0.50% | 5.48 | 5.60% | +155 I-curve | 2032-12-10 | BBB | Baa1 |
| Class N | 19.4 | 3.1% | — | 0.28 | 5.86% | +155 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-P4 | CRVNA 2024-P3 | CRVNA 2024-P2 | CRVNA 2022-P3 | CRVNA 2022-P2 | CRVNA 2022-P1 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-12-17 | 2024-09-17 | 2024-06-12 | 2022-09-08 | 2022-05-25 | 2022-03-30 | 424B5 |
| Pool balance | $625.1MM | $638.7MM | $507.2MM | $364.0MM | $605.0MM | $1,039.5MM | 424B5 |
| WA Credit Score | 701−3 | 701 | 702 | 704 | 704 | 704 | 424B5 |
| WA APR | 13.08%+2.81pp | 13.69% | 13.61% | 10.27% | 9.09% | 7.62% | 424B5 |
| WA original term mo | 71.00.0 | 72.0 mo | 72.0 mo | 71.0 mo | 71.0 mo | 71.0 mo | 424B5 |
| % new vehicles | — | — | — | — | — | — | 424B5 |
| Geo top-3 | TX 10.1% CA 9.1% FL 7.1% | 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% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 8.00%−1.65pp | 8.00% | 7.45% | 9.65% | 9.65% | 9.85% | calc |
| Enhancement, target | 8.20% | 8.20% | 7.65% | 11.00% | 11.00% | 10.85% | calc |
| Subordinate notes | 7.5%−1.1pp | 7.5% | 7.0% | 9.2% | 9.0% | 8.6% | calc |
| OC (initial) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.70% | 424B5 |
| OC target | 0.20% | 0.20% | 0.20% | 1.35% | 1.35% | 1.70% | 424B5 |
| OC floor | 0.20% | 0.20% | 0.20% | 1.35% | 1.35% | 0.70% | 424B5 |
| Reserve account | 0.50% | 0.50% | 0.50% | 0.50% | 0.65% | 0.60% | 424B5 |
| YSOC | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | +55 bps−20bps A-3 · 2.4y | +75 bps A-3 · 2.4y | +75 bps A-3 · 2.5y | +120 bps A-3 · 2.6y | — | — | FWP |
| Terms | |||||||
| Tranches | 8 | 8 | 8 | 8 | 7 | 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-P4 | COPAR 2024-1 | VALET 2024-1 | FCAOT 2024-D | CAOT 2024-4 | SDART 2024-5 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-12-17 | 2024-11-26 | 2024-11-26 | 2024-11-22 | 2024-11-05 | 2024-10-29 | 424B5 |
| Pool balance | $625.1MM | $1,116.1MM | $1,749.4MM | $1,683.4MM | $1,417.7MM | $1,878.4MM | 424B5 |
| WA Credit Score | 701−57 | 782 | 774 | 754 | 758 | 604 | 424B5 |
| WA APR | 13.08%+5.52pp | 7.56% | 4.67% | 4.79% | 9.66% | 17.71% | 424B5 |
| WA original term mo | 71.0+3.9 | 68.0 mo | — | 64.9 mo | 66.2 mo | 72.0 mo | 424B5 |
| % new vehicles | — | 28.6% | 80.0% | 94.2% | 0.0% | 29.2% | 424B5 |
| Geo top-3 | TX 10.1% CA 9.1% FL 7.1% | TX 12.5% FL 8.3% CA 7.9% | TX 13.9% CA 10.6% FL 8.3% | TX 16.1% CA 8.6% FL 8.5% | CA 16.7% TX 11.1% FL 7.3% | TX 17.8% FL 10.0% CA 9.9% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 8.00%+3.00pp | 3.25% | 4.25% | 5.25% | 5.00% | 43.00% | calc |
| Enhancement, target | 8.20% | 3.50% | — | 7.25% | 5.00% | 47.25% | calc |
| Subordinate notes | 7.5%+4.0pp | 3.0% | 0.0% | 5.0% | 3.5% | 32.5% | calc |
| OC (initial) | 0.00% | 0.00% | 4.00% | 0.00% | 1.25% | 9.50% | 424B5 |
| OC target | 0.20% | 0.25% | — | 2.00% | 1.25% | 13.75% | 424B5 |
| OC floor | 0.20% | 0.25% | — | 2.00% | 1.25% | 2.00% | 424B5 |
| Reserve account | 0.50% | 0.25% | 0.25% | 0.25% | 0.25% | 1.00% | 424B5 |
| YSOC | n.a. | 2.77% | 10.68% | 6.20% | n.a. | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | +55 bps+8bps A-3 · 2.4y | +41 bps A-3 · 2.5y | — | +41 bps A-3 · 2.4y | +53 bps A-3 · 2.7y | +63 bps A-3 · 1.5y | FWP |
| Terms | |||||||
| Tranches | 8 | 8 | 5 | 7 | 8 | 6 | 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 ↗