Carvana Reinstates Loan Sale Agreement With Ally Financial

Carvana Co. (CVNA) has reinstated an agreement to sell $4 billion of used-car loan receivables to Ally Financial. This yearlong deal follows claims by short-seller Hindenburg Research that Ally was distancing itself from its partnership with the online car marketplace.Per the Bloomberg News report, the agreement reinforces a crucial relationship for Carvana, which finances loans for its buyers before selling the receivables to other lenders. Per BNP Paribas data, Ally has historically purchased enough recei ...