FI showroom red and grey logo
MenuMENU
SearchSEARCH

Ally Financial Increasing Carvana's Floorplan Credit Line

Ally Financial said this week it is increasing the online vehicle retailer's floorplan credit line from $60 million to $125 million. This will allow Carvana to finance approximately 7,100 vehicles, up from 3,400.

by Staff
February 9, 2016
2 min to read


DETROIT — Ally Financial announced this week it is increasing Carvana’s floorplan credit line from $60 million to $125 million. This will allow the online vehicle retailer to finance approximately 7,100 vehicles, up from 3,400.

The credit line will support Carvana planned expansion in 2016, official said.

Ad Loading...

“The way consumers shop, buy and finance vehicles continues to evolve as the industry responds to consumer preferences toward a digital experience. As a leading finance provider in the industry, Ally is positioned to support this evolution and is pleased to expand our relationship with an innovative company like Carvana,” said Ally President of Auto Finance Tim Russi.

Carvana, which launched in 2013, allows customers to browse a large selection of used vehicles, secure financing and complete a car purchase from its website. After completing the purchase, customers have the option to have their vehicle delivered to their home or pick the vehicle up themselves from one of Carvana’s car vending machines in Atlanta or Nashville, Tenn.  

“Our goal is to create a better way to buy a car by putting the consumer back in control of the buying process,” says Ernie Garcia, Carvana founder and CEO. “We’re using technology and transparency to revolutionize car buying and, as we look to expand to new markets this year, our relationship with Ally will help to provide us with the resources and financial flexibility that we need to continue with our exciting, rapid growth.”

Ally and Carvana are also exploring other opportunities to expand their relationship. Ally offers financial products and services like retail financing, leasing, insurance and remarketing.

More F&I

Assurant, Sell Value Build Trust, F&I Series, Expert Trainer Trent White
F&ISeptember 2, 2026

Sell Value, Build Trust

In this video, Trent White explains why selling on value, not fear, builds lasting customer trust, reduces cancellations, and drives long-term success.

Read More →
2026 StoneEagle summary
F&Iby Hannah MitchellAugust 31, 2026

F&I Sales Give Dealers First-Half Lift

Product business shored up total profits to avoid an overall revenue tanking as product penetrations held steady, StoneEagle reported.

Read More →
man with white hair and glasses delivering a speech standing next to a podium
F&Iby Lauren LawrenceAugust 31, 2026

Targeted Training Drives Results

Today’s technology, instead of threatening F&I managers, can actually make them better, according to an industry veteran who’s watched market setbacks roil the unprepared.

Read More →
Ad Loading...
Man's hand holding pen over a paper document
F&Iby Justin B. GasmanAugust 20, 2026

Double the Change, Double the Chance

When an F&I manager gets a customer refusal, it’s a wise move to tweak more than one thing in the product offering.

Read More →
Laptop computer, tablet, calculator and notebook on a desk
F&Iby John TabarAugust 20, 2026

Just Do It

F&I managers need training, but instead of resisting application or expecting perfection, they should improve by simply acting on what they learn.

Read More →
stacks of coins, a calculator, paperwork, and a pair of glasses in the background, text Lender Experience Drives Dealer Decisions, F&I and Showroom
Auto Financeby Lauren LawrenceAugust 12, 2026

Dealer Lender Preferences Revealed

When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.

Read More →
Ad Loading...
Leading with Purpose thumbnail. Trent white pictured in front of titled graphic.
F&IAugust 5, 2026

Leading with Purpose

In this video, Trent White explains how understanding your people’s 'why' is a key leadership responsibility of F&I professionals and how that mindset drives dealership engagement, trust and performance.

Read More →
Photo of a keyring with mltiple keys, including a car key fob, on a white surface
F&IJuly 15, 2026

Integrating Nontraditional F&I Products

The niche presents a strategic advantage for auto dealerships as they move to adapt to fast-changing consumer expectations in today’s market.

Read More →
Photo of businessman's hands holding eyeglasses at a desk
F&Iby Rick McCormickJuly 7, 2026

Trust Is Personal

Technology, no matter how efficient, can’t replace what the human F&I manager can do, which is to bridge the divide between cyberspace and the in-store experience.

Read More →
Ad Loading...
Photo of executive in a sports coat and glasses
Industryby StaffJuly 2, 2026

Amplify 2026 Billed as Turning Innovation Into Results

Reynolds and Reynolds says its annual retail summit will connect dealers with practical strategies, peer insight, and technology-driven ideas.

Read More →