Carvana Renews Ties With Ally Financial After Hindenburg Report

Carvana has revived a deal to sell $4 billion in used-car loan receivables to Ally Financial.The yearlong arrangement, announced Monday (Jan. 6), comes days after a report by short seller Hindenburg Research claiming that Ally was stepping back from its partnership with the online vehicle marketplace.A report by Bloomberg News noted that this deal upholds a key relationship for Carvana, which sells used cars, originating loans to its buyers before selling the receivables to other lenders. The report, citing ...