| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 130.5 | 11.9% | 11.50% | — | — | — | — | A-1+ | F-1+ |
| Class A-2 | 320.6 | 29.1% | 11.50% | — | — | — | — | AAA | AAA |
| Class A-3 | 320.6 | 29.1% | 11.50% | — | — | — | — | AAA | AAA |
| Class A-4 | 211.5 | 19.2% | 11.50% | — | — | — | — | AAA | AAA |
| Class B | 42.9 | 3.9% | 7.60% | — | — | — | — | AA | AA |
| Class C | 51.2 | 4.7% | 2.95% | — | — | — | — | A | A |
| Class D | 23.7 | 2.1% | 0.80% | — | — | — | — | BBB | 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 | Barclays Capital, BNP Paribas Securities, Wells Fargo Securities, Citigroup Global Markets, Deutsche Bank Securities, Mizuho Securities, Santander US Capital Markets, TD Securities |
| CRVNA 2026-P4 | CRVNA 2026-P3 | CRVNA 2026-P2 | CRVNA 2026-P1 | CRVNA 2025-P4 | CRVNA 2025-P3 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2026-11-24 | 2026-08-25 | 2026-05-27 | 2026-03-17 | 2025-11-25 | 2025-09-23 | 424B5 |
| Pool balance | $1,101.0MM | $1,550.3MM | $1,100.4MM | $1,050.7MM | $934.7MM | $1,011.7MM | 424B5 |
| WA Credit Score | 704−4 | 702 | 708 | 713 | 708 | 702 | 424B5 |
| WA APR | 11.65%+0.88pp | 10.77% | 10.54% | 10.67% | 11.24% | 12.11% | 424B5 |
| WA original term mo | 75.00.0 | 75.0 mo | 75.0 mo | 75.0 mo | 70.0 mo | 73.0 mo | 424B5 |
| % new vehicles | 3.9% | 4.5% | 2.7% | 2.7% | — | — | 424B5 |
| Geo top-3 | TX 10.5% CA 7.7% FL 6.0% | 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% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 11.50%+0.30pp | 11.20% | 11.20% | 11.20% | 10.70% | 9.90% | calc |
| Enhancement, target | 12.30% | 12.20% | 12.10% | 11.60% | 11.20% | 10.10% | calc |
| Subordinate notes | 10.7%0.0pp | 10.7% | 10.7% | 10.7% | 10.2% | 9.4% | calc |
| OC (initial) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 424B5 |
| OC target | 0.80% | 1.00% | 0.90% | 0.40% | 0.50% | 0.20% | 424B5 |
| OC floor | 0.80% | 1.00% | 0.90% | 0.40% | 0.50% | 0.20% | 424B5 |
| Reserve account | 0.80% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 424B5 |
| YSOC | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | — | +62 bps A-3 · 2.3y | +68 bps A-3 · 2.3y | +71 bps A-3 · 2.3y | +60 bps A-3 · 2.4y | +58 bps A-3 · 2.5y | FWP |
| Terms | |||||||
| Tranches | 7 | 8 | 8 | 8 | 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 2026-P4 | EARTS 2026-2 | WOSAT 2026-A | CAOT 2024-1 | Source | |
|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||
| Closing date | 2026-11-24 | 2026-09-28 | 2026-07-29 | 2024-01-24 | 424B5 |
| Pool balance | $1,101.0MM | $495.4MM | $688.5MM | $1,565.7MM | 424B5 |
| WA Credit Score | 704+33 | 671 | 647 | 719 | 424B5 |
| WA APR | 11.65%+0.75pp | 16.69% | 9.84% | 10.90% | 424B5 |
| WA original term mo | 75.0+0.5 | 82.0 mo | 74.5 mo | 65.4 mo | 424B5 |
| % new vehicles | 3.9% | — | 97.0% | 0.0% | 424B5 |
| Geo top-3 | TX 10.5% CA 7.7% FL 6.0% | TX 21.8% CA 11.2% FL 8.8% | FL 55.5% GA 18.8% AL 11.0% | CA 16.4% TX 11.3% FL 8.1% | 424B5 |
| Enhancement beneath the AAA term notes | |||||
| Enhancement, initial | 11.50%−8.90pp | 35.50% | 20.40% | 9.25% | calc |
| Enhancement, target | 12.30% | 40.00% | 23.25% | 9.25% | calc |
| Subordinate notes | 10.7%+1.4pp | 30.0% | 9.3% | 8.0% | calc |
| OC (initial) | 0.00% | 4.50% | 10.65% | 1.00% | 424B5 |
| OC target | 0.80% | 9.00% | 13.50% | 1.00% | 424B5 |
| OC floor | 0.80% | 1.50% | 1.00% | 1.00% | 424B5 |
| Reserve account | 0.80% | 1.00% | 0.50% | 0.25% | 424B5 |
| YSOC | n.a. | n.a. | — | n.a. | 424B5 |
| Pricing | |||||
| AAA spread | — | +55 bps A-3 · 2.2y | +56 bps A-2a · 1.2y | +75 bps A-3 · 2.6y | FWP |
| Terms | |||||
| Tranches | 7 | 8 | 6 | 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.
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 ↗