Part of the attraction to investors: selling cars is only part of what makes Carvana money. In the second quarter, around 36% of the company’s gross profit per unit came from selling loans it made to customers to buy the cars. Retail sales accounted for 39% of gross profit per unit, Carvana’s preferred earnings measure. Other types of income, including from vehicle-servicing contracts, made up the rest.
Last quarter, the loan surge helped Carvana earn its first ever quarterly profit.
The share of Fannie Mae and Freddie Mac (GSE) loans in forbearance decreased 8 basis points to 0.68 percent during the month and Ginnie Mae (FHA and VA)...
Last week, a settlement with student loan servicer Navient resolved several lawsuits accusing the servicer of deceptive and unfair lending practices. Attorneys general from California, Illinois, Massachusetts, Pennsylvania...
Student loan borrowers have enjoyed temporary student loan forbearance since March 2020 when Congress passed the Cares Act, which provided record student loan relief to more...
Student loan relief was extended for 90 days, but it’s only temporary student loan relief. Make sure you have a game plan for student loan repayment....
The Survey of Terms of Lending to Farmers shows non-real estate agricultural loans at commercial banks decreased by 13 percent in the fourth quarter, and the...
