| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 167.4 | 10.8% | 90.6% | +30 bps | 0.18 | 2027-09-10 | A-1+ | — | F1+ |
| Class A-2 | 457.6 | 29.5% | 61.0% | +60 bps | 0.96 | 2029-11-10 | AAA | — | AAA |
| Class A-3 | 457.6 | 29.5% | 31.5% | +62 bps | 2.27 | 2031-08-10 | AAA | — | AAA |
| Class A-4 | 301.8 | 19.5% | 12.0% | +77 bps | 3.65 | 2032-08-10 | AAA | — | AAA |
| Class B | 60.5 | 3.9% | 8.1% | +95 bps | 4.54 | 2032-10-10 | AA | — | AA |
| Class C | 72.1 | 4.7% | 3.5% | +140 bps | 5.01 | 2033-02-10 | A | — | A |
| Class D | 33.3 | 2.1% | 1.4% | +175 bps | 5.48 | 2034-08-10 | BBB | — | BBB |
| Class N | 20.9 | 1.4% | 0.0% | +170 bps | 0.49 | — | BB- | Ba1 | BB+ |
| 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 | Barclays Capital, Deutsche Bank Securities, BNP Paribas Securities, Wells Fargo Securities, Citigroup Global Markets, Mizuho Securities |
| CRVNA 2026-P3 | CRVNA 2026-P2 | CRVNA 2026-P1 | CRVNA 2025-P4 | CRVNA 2025-P3 | CRVNA 2025-P2 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2026-08-25 | 2026-05-27 | 2026-03-17 | 2025-11-25 | 2025-09-23 | 2025-06-17 |
| Pool balance | $1,550.3MM | $1,100.4MM | $1,050.7MM | $934.7MM | $1,011.7MM | $650.3MM |
| WA Credit Score | 702−6 | 708 | 713 | 708 | 702 | 701 |
| WA APR | 10.77%−0.47pp | 10.54% | 10.67% | 11.24% | 12.11% | 12.80% |
| WA original term mo | 75.0+2.0 | 75.0 mo | 75.0 mo | 70.0 mo | 73.0 mo | 73.0 mo |
| % new vehicles | 4.5% | 2.7% | 2.7% | — | — | — |
| Reserve % | 1.00% | 0.90% | 0.40% | 0.50% | 0.20% | 0.20% |
| Geo top-3 | TX 10.8% CA 7.2% FL 6.0% | TX 10.2% CA 7.4% FL 6.5% | TX 10.2% CA 8.5% FL 6.7% | TX 10.1% CA 7.7% FL 6.3% | TX 10.4% CA 7.7% FL 5.7% | TX 10.8% CA 8.0% FL 6.2% |
| Structure (at issuance) | ||||||
| AAA spread | +60 bps+3bps | +63 bps | +58 bps | +57 bps | +50 bps | +50 bps |
| AAA % of pool | 78.5%−0.1pp | 78.2% | 77.9% | 78.8% | 79.5% | 78.6% |
| Subordination below AAA | 12.0%−0.4pp | 12.2% | 12.7% | 12.4% | 12.3% | 13.0% |
| OC (initial) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| OC target | 1.00% | 0.90% | 0.40% | 0.50% | 0.20% | 0.20% |
| OC floor | 1.00% | 0.90% | 0.40% | 0.50% | 0.20% | 0.20% |
| YSOC | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
| Tranches | 8 | 8 | 8 | 8 | 8 | 8 |
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 2026-P3 | WOSAT 2026-A | EARTS 2026-1 | CAOT 2024-1 | |
|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||
| Closing date | 2026-08-25 | 2026-07-29 | 2026-05-15 | 2024-01-24 |
| Pool balance | $1,550.3MM | $688.5MM | $371.1MM | $1,565.7MM |
| WA Credit Score | 702+32 | 647 | 670 | 719 |
| WA APR | 10.77%−0.13pp | 9.84% | 15.74% | 10.90% |
| WA original term mo | 75.0+0.5 | 74.5 mo | 78.0 mo | 65.4 mo |
| % new vehicles | 4.5% | 97.0% | — | 0.0% |
| Reserve % | 1.00% | 0.50% | 1.00% | 1.00% |
| Geo top-3 | TX 10.8% CA 7.2% FL 6.0% | FL 55.5% GA 18.8% AL 11.0% | TX 21.6% CA 9.9% FL 8.4% | CA 16.4% TX 11.3% FL 8.1% |
| Structure (at issuance) | ||||
| AAA spread | +60 bps+1bps | +56 bps | — | +62 bps |
| AAA % of pool | 78.5%+15.5pp | 63.0% | 52.5% | 73.4% |
| Subordination below AAA | 12.0%+2.8pp | 9.3% | 38.1% | 8.0% |
| OC (initial) | 0.00% | 10.65% | 3.25% | 1.00% |
| OC target | 1.00% | 13.50% | 7.10% | 1.00% |
| OC floor | 1.00% | 1.00% | 1.50% | 1.00% |
| YSOC | n.a. | — | n.a. | n.a. |
| Tranches | 8 | 6 | 8 | 8 |
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.
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