Carvana has revived a deal to sell $4 billion in used-car loan receivables to Ally Financial.
This deal upholds a key relationship for Carvana as Ally typically purchases enough receivables to fund half of Carvana’s new originations.
Short seller Hindenburg Research had alleged a 'father-son accounting grift' at Carvana and claimed that Ally was stepping back from their partnership.
Carvana dismisses Hindenburg's report as intentionally misleading and inaccurate, stating they plan to focus on executing their plan for another great year.