Carvana is STILL a Disaster

Carvana is still a disaster...let's talk about it.
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00:00 - Intro
What's up you guys! In today's video, let's breakdown what is currently going on with Carvana, and the issue with their dealers license.

00:47 - Leadership
The first issue with Carvana is their leadership and executive team. Carvana was founded by Ernest Garcicia II and Ernest Garcia III, as a subsidiary to the company DriveTime, which is one of the largest used car dealers in the US. Ernest Garcia III runs Carvana while Ernest Garcia II runs DriveTime. There has been a handful of sketchy and questionable things that this duo has taken part in, but the most notable is that the way Carvana is structured gives the Garcias almost sole voting power when making decision on behalf of the company.

02:24 - Subprime Loans
Another issue with Carvana that is really beginning to boil over is the issue of subprime loans. You see, like many used car (and new car) dealerships, Carvana makes a huge portion of their revenue thorugh financing. This is not the issue, the issue is instead that Carvana is lending out a lot of subprime loans to subprime borrowers. This is going to be trouble when it comes to the recession.

04:00 - Dealers License
The newest controversy is surrounding Carvanas Dealers License, which was recently suspended by the state of Illinois. The state of Illinois put a suspension in May on Carvanas Dealers License in response to Carvana not following the rules outlined by the state. This suspension was put on hold, but has since been reinstated.

06:12 - Closing
I hope you guys enjoyed this video, make sure to hit the like, subscribe, and the notification bell and I will see you guys in the next video.

CHECK OUT MY OTHER CARVANA VIDEOS:
https://youtu.be/xpuWt4vq7Fw
https://youtu.be/AHEHEKHUO9Q

SOURCES:
https://www.repairerdrivennews.com/2022/05/19/carvana-dealer-license-suspended-in-illinois-under-probation-in-charlotte-nc/
https://www.autonews.com/search?search_phrase=Carvana&field_emphasis_image=&sort_by=search_api_relevance
https://www.autonews.com/search?search_phrase=Carvana&field_emphasis_image=&sort_by=search_api_relevance
https://www.autonews.com/used-cars/why-illinois-suspended-carvanas-license-again
https://www.repairerdrivennews.com/2022/07/20/carvana-loses-illinois-dealer-license-again-for-violation-of-suspension-stay/
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Disclaimer:
I am not a CPA, attorney, lender, or financial advisor. The content in these videos should not be construed as tax, legal, or financial advice...etc, and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a YouTube video for entertainment purposes ONLY. IF stocks or companies are mentioned, Aubrey may have an ownership interest in them – Please do not make buying or selling decisions based on Aubrey’s videos. If you need advice, please contact a qualified professional.

#Dealerships #Carvana #Disaster

Видео Carvana is STILL a Disaster канала Aubrey Janik