# CRVNA-2022-P1
Carvana · prime · 54 monthly tapes, 2022-02-28 to 2026-07-31

**Score 0** (weighted flags).

## Latest month, counted from the loan tape

| Measure | Value |
|---|---|
| Pool factor | 12.7% |
| Cumulative net loss (of original pool) | 3.02% |
| 60+ reported (balance-weighted) | 3.71% |
| 60+ extension-adjusted (6-month lookback) | 3.72% |
| Masking gap | 1 bps |
| Extension stock (touched in trailing 6 months) | 0.01% |
| New extensions this month | 0.01% |
| Repossessed, not yet liquidated | 0.01% |
| Recoveries / charge-offs, cumulative | 38.9% |
| Loans remaining | 15,555 · balance $119.3M |
| At issuance | 41,229 loans, $940.7M, WA score 701, WA term 70.8, used 100% |

## Flags

- none

## Reads on the desk

- WATCH: Extension-adjusted 60+ delinquency (3.72%) sits 0bps above reported (3.71%), inside the 75bps threshold. Extensions are present but are not currently flattering the curve.
- WATCH: Cumulative net loss is 3.02% at month 53, against a median of 3.85% across the 4 deals on tape at the same seasoning. Below the band by 0.83 points.
- WATCH: Cumulative recoveries stand at 38.9% of charged-off principal. Evidence: Schedule AL chargedoffPrincipalAmount and recoveredAmount summed across all 54 monthly tapes.

## The bonds on top (servicer report, 2026-07-31)

Pool $119.3M · notes $1.03B in 7 classes · overcollateralization $17.7M · reserve $6.2M · delinquency – vs trigger 4.50%

| Class | Balance | Hard enhancement below it | Enhancement % of pool | Cushion after stress 1 | after stress 2 |
|---|---|---|---|---|---|
| A-1 | $146.0M | $910.1M | 762.7% | +$907.4M | +$904.7M |
| A-2 | $324.0M | $586.1M | 491.2% | +$583.4M | +$580.7M |
| A-3 | $324.0M | $262.1M | 219.7% | +$259.4M | +$256.7M |
| A-4 | $149.3M | $112.8M | 94.5% | +$110.1M | +$107.4M |
| B | $31.7M | $81.1M | 67.9% | +$78.4M | +$75.7M |
| C | $32.2M | $48.8M | 40.9% | +$46.1M | +$43.4M |
| D | $24.9M | $23.9M | 20.0% | +$21.2M | +$18.5M |

Stress 1 = the tape's extension-adjusted 60+ balance (3.72% of pool) charged off at this deal's own severity (61%): $2.7M. Stress 2 doubles it. Hard enhancement only (junior classes + OC + reserve); excess spread not counted. Not a rating. Not read from this issuer's layout: cnl_pct not parsed; dq_pct not parsed. Source: https://www.sec.gov/Archives/edgar/data/1903763/000190376326000034/crvna2022-p1servicerrepo.htm

## How to verify

- Page: https://getbookiq.com/intel/#deal=CRVNA-2022-P1
- Data: https://getbookiq.com/intel/data/abs.json (deals[].months)
- Vintage and index curves for its lender: https://getbookiq.com/intel/#curves
- Definitions: https://getbookiq.com/dictionary/#auto-dq60a
- Source: Form ABS-EE loan tapes on SEC EDGAR. Extension-adjusted delinquency is a modeling choice: the same deal shows a gap of 562 / 1,156 / 2,191 bps at 3 / 6 / 12 month lookbacks. Never quote the gap without the window.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide