Carvana (CVNA) CFO Lied About Selling Loans to Related Parties
u/BFLO-Retail ·
Reddit — r/stocks
· February 27, 2026 at 12:11
· ⬆ 42 pts
· 💬 20 comments
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Summary
The post alleges that Carvana's CFO, Mark Jenkins, falsely claimed the company does not sell loans to related parties.
The author, an automotive dealer, provides anecdotal evidence of a Carvana-originated auto loan being held by Bridgecrest, a company owned by the father of Carvana's CEO, suggesting a non-disclosed related-party transaction.
The author's thesis is that this potential deception indicates Carvana's stock (CVNA) is artificially inflated and vulnerable to a correction.
Quality assessment: This is speculation based on a single anecdotal case. While the author has industry experience and a clear position, the post lacks the rigorous, widespread evidence needed for well-researched due diligence (DD). It should be treated as a lead for further investigation, not a standalone proof.
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On Carvana (CVNA)'s most recent earnings report CFO Mark Jenkins told reporters:
**"We don't sell loans to related parties. We disclose our related party transactions, and there's no ambiguity about that."**
Unfortunately that is far from the truth.
As an automotive dealer I have directly seen Carvana loans written or assumed by Bridgecrest, a 3rd party bank owned by Carvana CEO Ernest Garcia III's Father (Ernest Garcia the II)
**The most recent vehicle in question was a 2012 Volkswagon Jetta. Originally titled in Arizona by Carvana, the customer purchased the vehicle from Carvana. Carvana shipped the vehicle from Arizona to Buffalo NY. The Vehicle came with Carvana plate Frames.**
[https://imgur.com/a/fjKZ1dC](https://imgur.com/a/fjKZ1dC)
When asked about the lender, the customer stated "The loan is through Carvana." The actual lender was Bridgecrest.
**On a phone call, Bridgecrest acknowledged the loan, but refused to mail or email a payoff quote (this was highly unusual). The customer was able to screenshot the loan from his account (redacted to protect consumer privacy):**
[https://imgur.com/a/iq2q1aM](https://imgur.com/a/iq2q1aM)
Carvana is selling loans to related 3rd parties, which raises the question: **How badly is Carvana's Stock Inflated?**
Credentials and Position Disclosure: I am short Carvana stock with Put Options. I am a retail trader, a 14 year veteran of the automobile industry. I have written several articles critical of Carvana.
The author presents evidence of a Carvana customer's loan being held by Bridgecrest, a company owned by the CEO's father, directly contradicting the CFO's public statements. This alleged misrepresentation suggests potential accounting irregularities or a deliberate effort to obscure the true nature of its loan portfolio, which could lead to a loss of investor confidence and regulatory scrutiny if proven true. The author believes this is evidence of corporate malfeasance that has artificially inflated the stock price, making it a prime short target. The author explicitly states they are short via put options. The author's evidence is a single, anecdotal case which may not be representative of a systemic issue. The relationship between Carvana, DriveTime, and Bridgecrest is complex and may have legal structuring that technically avoids the "selling loans to related parties" definition. The market may disregard this information if it's already priced in or considered immaterial.
This Reddit post, published February 27, 2026,
features u/BFLO-Retail
discussing CVNA.
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