Carvana amends Ally financing pact, Ally to buy up to $4.0 billion in auto loans
Carvana's subsidiary, Ally Bank and Ally Financial amended their master purchase and sale agreement on January 3, 2025. The amendment reestablishes a commitment by the Ally parties to purchase up to $4.0 billion of automotive finance receivables through January 2, 2026. The filing describes a financing arrangement that supports Carvana's ability to sell auto loans to Ally, but it does not report financial results or a change in profitability.
- Amendment dated January 3, 2025 to the Second Amended and Restated Master Purchase and Sale Agreement, filed as Exhibit 10.1 (Sixth Amendment).
- Ally parties commit to purchase up to $4.0 billion of automotive finance receivables from January 3, 2025 to January 2, 2026.
- Certain portions of the exhibit were omitted; Carvana agreed to provide an unredacted copy to the SEC on request.