# CRVNA-2024-P2
Carvana · prime · 28 monthly tapes, 2024-04-30 to 2026-07-31

**Score 2** (weighted flags).

## Latest month, counted from the loan tape

| Measure | Value |
|---|---|
| Pool factor | 67.7% |
| Cumulative net loss (of original pool) | 2.62% |
| 60+ reported (balance-weighted) | 1.52% |
| 60+ extension-adjusted (6-month lookback) | 1.53% |
| Masking gap | 1 bps |
| Extension stock (touched in trailing 6 months) | 0.01% |
| New extensions this month | 0.01% |
| Repossessed, not yet liquidated | 0.00% |
| Recoveries / charge-offs, cumulative | 41.1% |
| Loans remaining | 12,029 · balance $204.7M |
| At issuance | 20,884 loans, $302.5M, WA score 697, WA term 72.4, used 100% |

## Flags

- **Cumulative net loss above the peer median at the same seasoning** (`cnl_above_band`)

## Reads on the desk

- HIGH: Cumulative net loss is 2.62% at month 27, against a median of 1.48% across the 30 deals on tape at the same seasoning. Above the band by 1.14 points.
- WATCH: Extension-adjusted 60+ delinquency (1.53%) sits 1bps above reported (1.52%), inside the 75bps threshold. Extensions are present but are not currently flattering the curve.
- WATCH: Cumulative recoveries stand at 41.1% of charged-off principal. Evidence: Schedule AL chargedoffPrincipalAmount and recoveredAmount summed across all 28 monthly tapes.

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

Pool $204.7M · notes $507.2M in 7 classes · overcollateralization $1.0M · reserve $2.5M · delinquency – vs trigger 3.85%

| Class | Balance | Hard enhancement below it | Enhancement % of pool | Cushion after stress 1 | after stress 2 |
|---|---|---|---|---|---|
| A-1 | $56.1M | $454.6M | 222.1% | +$452.8M | +$450.9M |
| A-2 | $161.0M | $293.6M | 143.4% | +$291.8M | +$289.9M |
| A-3 | $161.0M | $132.6M | 64.8% | +$130.8M | +$128.9M |
| A-4 | $93.8M | $38.8M | 19.0% | +$37.0M | +$35.1M |
| B | $17.8M | $21.1M | 10.3% | +$19.2M | +$17.4M |
| C | $8.9M | $12.2M | 6.0% | +$10.3M | +$8.5M |
| D | $8.6M | $3.6M | 1.7% | +$1.7M | −$129,172 |

Stress 1 = the tape's extension-adjusted 60+ balance (1.53% of pool) charged off at this deal's own severity (59%): $1.8M. 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/1999671/000199967126000034/crvna2024-p2servicerrepo.htm

## How to verify

- Page: https://getbookiq.com/intel/#deal=CRVNA-2024-P2
- 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.

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