Carvana (CVNA) 10-Q 29 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 26, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-38073
Entity Registrant Name	CARVANA CO.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-4549921
Entity Address, Address Line One	1930 W. Rio Salado Parkway
Entity Address, City or Town	Tempe
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85281
City Area Code	480
Local Phone Number	719-8809
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Class A Common Stock, Par Value $0.001 Per Share
Trading Symbol	CVNA
Security Exchange Name	NYSE
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001690820
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		70,578,738
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		101,200,276

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 173,704	$ 76,016
Restricted cash	22,619	42,443
Accounts receivable, net	82,932	39,864
Finance receivables held for sale, net	316,972	286,969
Vehicle inventory	967,547	762,696
Beneficial interests in securitizations	112,134	98,780
Other current assets, including $5,437 and $0, respectively, due from related parties	71,196	52,654
Total current assets	1,747,104	1,359,422
Property and equipment, net	800,181	543,471
Operating lease right-of-use assets, including $22,483 and $44,583, respectively, from leases with related parties	141,657	123,420
Intangible assets, net	5,990	7,232
Goodwill	9,353	9,353
Other assets, including $4,908 and $6,138, respectively, due from related parties	28,513	14,850
Total assets	2,732,798	2,057,748
Current liabilities:
Accounts payable and accrued liabilities, including $12,845 and $9,549, respectively, due to related parties	355,876	234,443
Short-term revolving facilities	126,981	568,840
Current portion of long-term debt	54,313	48,731
Other current liabilities, including $3,442 and $4,518, respectively, from leases with related parties	11,616	12,856
Total current liabilities	548,786	864,870
Long-term debt, excluding current portion, including $15,000 held by a related party	1,080,929	883,060
Operating lease liabilities, excluding current portion, including $19,482 and $41,829, respectively, from leases with related parties	140,010	116,071
Other liabilities	1,497	1,808
Total liabilities	1,771,222	1,865,809
Commitments and contingencies (Note 16)
Stockholders' equity:
Preferred stock, $0.01 par value - 50,000 shares authorized; none issued and outstanding as of September 30, 2020 and December 31, 2019	0	0
Additional paid-in capital	721,174	280,994
Accumulated deficit	(290,836)	(183,034)
Total stockholders' equity attributable to Carvana Co.	430,510	98,112
Non-controlling interests	531,066	93,827
Total stockholders' equity	961,576	191,939
Total liabilities & stockholders' equity	2,732,798	2,057,748
Related Party
Current assets:
Other current assets, including $5,437 and $0, respectively, due from related parties	5,437	0
Operating lease right-of-use assets, including $22,483 and $44,583, respectively, from leases with related parties	22,483	44,583
Other assets, including $4,908 and $6,138, respectively, due from related parties	4,908	6,138
Current liabilities:
Accounts payable and accrued liabilities, including $12,845 and $9,549, respectively, due to related parties	12,845	9,549
Other current liabilities, including $3,442 and $4,518, respectively, from leases with related parties	3,442	4,518
Long-term debt, excluding current portion, including $15,000 held by a related party	15,000	15,000
Operating lease liabilities, excluding current portion, including $19,482 and $41,829, respectively, from leases with related parties	19,482	41,829
Class A Common Stock
Stockholders' equity:
Common stock	71	51
Class B Common Stock
Stockholders' equity:
Common stock	$ 101	$ 101

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) - Parenthetical - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Other current assets, due from related parties	$ 71,196	$ 52,654
Operating lease, right-of-use asset, from leases with related party	141,657	123,420
Other assets, due from related parties	28,513	14,850
Accounts payable and accrued liabilities, due to related parties	355,876	234,443
Other current liabilities, from leases with related parties	11,616	12,856
Long-term debt, excluding current portion, held by a related party	1,080,929	883,060
Operating lease liabilities, excluding current portion, from leases with related parties	$ 140,010	$ 116,071
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	70,538,000	50,507,000
Common stock, shares outstanding (in shares)	70,538,000	50,507,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	101,200,000	101,219,000
Common stock, shares outstanding (in shares)	101,200,000	101,219,000
Related Party
Other current assets, due from related parties	$ 5,437	$ 0
Operating lease, right-of-use asset, from leases with related party	22,483	44,583
Other assets, due from related parties	4,908	6,138
Accounts payable and accrued liabilities, due to related parties	12,845	9,549
Other current liabilities, from leases with related parties	3,442	4,518
Long-term debt, excluding current portion, held by a related party	15,000	15,000
Operating lease liabilities, excluding current portion, from leases with related parties	$ 19,482	$ 41,829

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Sales and operating revenues:
Net sales and operating revenues		$ 1,543,609	$ 1,094,854	$ 3,760,159	$ 2,836,309
Cost of sales, including $931, $997, $2,664, and $3,487, respectively, to related parties		1,282,336	957,311	3,210,258	2,472,441
Gross profit		261,273	137,543	549,901	363,868
Selling, general and administrative expenses, including $4,712, $4,264, $13,630, and $9,884, respectively, to related parties		267,842	207,970	783,487	545,054
Interest expense, including $332, $332, $998, and $998, respectively, to related parties		20,276	20,990	69,053	55,953
Other (income) expense, net		(9,201)	827	5,126	1,760
Net loss before income taxes		(17,644)	(92,244)	(307,765)	(238,899)
Income tax provision		76	0	(162)	0
Net loss		(17,720)	(92,244)	(307,603)	(238,899)
Net loss attributable to non-controlling interests		(10,635)	(62,156)	(199,801)	(165,373)
Net loss attributable to Carvana Co.		(7,085)	(30,088)	(107,802)	(73,526)
Related Party
Sales and operating revenues:
Cost of sales, including $931, $997, $2,664, and $3,487, respectively, to related parties		931	997	2,664	3,487
Selling, general and administrative expenses, including $4,712, $4,264, $13,630, and $9,884, respectively, to related parties		4,712	4,264	13,630	9,884
Interest expense, including $332, $332, $998, and $998, respectively, to related parties		$ 332	$ 332	$ 998	$ 998
Class A Common Stock
Sales and operating revenues:
Net loss per share of Class A common stock, basic and diluted (in dollars per share)		$ (0.10)	$ (0.60)	$ (1.73)	$ (1.61)
Weighted-average shares of Class A common stock, basic and diluted (in shares)	[1]	70,005	49,787	62,244	45,726
Used vehicle sales, net
Sales and operating revenues:
Net sales and operating revenues		$ 1,289,128	$ 931,016	$ 3,245,209	$ 2,470,630
Wholesale vehicle sales
Sales and operating revenues:
Net sales and operating revenues		129,925	92,430	258,965	188,474
Wholesale vehicle sales | Related Party
Sales and operating revenues:
Net sales and operating revenues		1,323	0	1,365	0
Other sales and revenues
Sales and operating revenues:
Net sales and operating revenues		124,556	71,408	255,985	177,205
Other sales and revenues | Related Party
Sales and operating revenues:
Net sales and operating revenues		$ 26,141	$ 15,824	$ 69,423	$ 40,386
[1]	Weighted-average shares of Class A common stock outstanding have been adjusted for unvested restricted stock awards.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) - Parenthetical - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Sales and revenues, from related parties	$ 1,543,609	$ 1,094,854	$ 3,760,159	$ 2,836,309
Cost of sales, to related parties	1,282,336	957,311	3,210,258	2,472,441
Selling, general and administrative expenses, to related parties	267,842	207,970	783,487	545,054
Interest expense, to related parties	20,276	20,990	69,053	55,953
Wholesale vehicle sales
Sales and revenues, from related parties	129,925	92,430	258,965	188,474
Other sales and revenues
Sales and revenues, from related parties	124,556	71,408	255,985	177,205
Related Party
Cost of sales, to related parties	931	997	2,664	3,487
Selling, general and administrative expenses, to related parties	4,712	4,264	13,630	9,884
Interest expense, to related parties	332	332	998	998
Related Party | Wholesale vehicle sales
Sales and revenues, from related parties	1,323	0	1,365	0
Related Party | Other sales and revenues
Sales and revenues, from related parties	$ 26,141	$ 15,824	$ 69,423	$ 40,386

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Equity Offering	Restricted Stock Units	Carvana Group	Common StockClass A Common Stock	Common StockClass A Common StockRestricted Stock Units	Common StockClass B Common Stock	Additional Paid-in Capital	Additional Paid-in CapitalEquity Offering	Additional Paid-in CapitalCarvana Group	Accumulated Deficit	Non-controlling Interests	Non-controlling InterestsEquity Offering
Stockholders' Equity, beginning of the period (in shares) at Dec. 31, 2018					41,208,000		104,336,000
Stockholders' Equity, beginning of the period at Dec. 31, 2018	$ 227,428				$ 41		$ 104	$ 147,916			$ (68,375)	$ 147,742
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(82,596)										(23,115)	(59,481)
Issuance of Class A common stock (in shares)						74,000
Exchanges of LLC Units and Adjustments to the non-controlling interests related to equity offerings					$ 2		$ (2)	1,899				(1,899)
Exchanges of LLC Units (in shares)					2,020,000		1,984,000
Establishment of deferred tax assets related to increases in tax basis in Carvana Group				$ 25,582						$ 25,582
Establishment of valuation allowance related to deferred tax assets associated with increases in tax basis in Carvana Group				(25,582)						(25,582)
Contribution of Class A common stock from related party (in shares)					(72,000)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes (in shares)					(14,000)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes	(433)							(433)
Options exercised (in shares)					27,000
Options exercised	426							426
Equity-based compensation	8,022							8,022
Stockholders' Equity, end of the period (in shares) at Mar. 31, 2019					43,243,000		102,352,000
Stockholders' Equity, end of the period at Mar. 31, 2019	152,847				$ 43		$ 102	157,830			(91,490)	86,362
Stockholders' Equity, beginning of the period (in shares) at Dec. 31, 2018					41,208,000		104,336,000
Stockholders' Equity, beginning of the period at Dec. 31, 2018	227,428				$ 41		$ 104	147,916			(68,375)	147,742
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(238,899)
Issuance of Class A common stock (in shares)			200,000
Exchanges of LLC Units and Adjustments to the non-controlling interests related to equity offerings								4,700				(4,700)
Stockholders' Equity, end of the period (in shares) at Sep. 30, 2019					50,296,000		101,250,000
Stockholders' Equity, end of the period at Sep. 30, 2019	311,178				$ 50		$ 101	274,210			(141,901)	178,718
Stockholders' Equity, beginning of the period (in shares) at Mar. 31, 2019					43,243,000		102,352,000
Stockholders' Equity, beginning of the period at Mar. 31, 2019	152,847				$ 43		$ 102	157,830			(91,490)	86,362
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(64,059)										(20,323)	(43,736)
Issuance of Class A common stock (in shares)					4,830,000	78,000
Issuances of Class A common stock, net of underwriters' discounts and commissions and offering expenses	297,611				$ 5			297,606
Exchanges of LLC Units and Adjustments to the non-controlling interests related to equity offerings	1				$ 2		$ (1)	1,571	$ (201,015)			(1,571)	$ 201,015
Exchanges of LLC Units (in shares)					1,612,000		971,000
Establishment of deferred tax assets related to increases in tax basis in Carvana Group				33,573						33,573
Establishment of valuation allowance related to deferred tax assets associated with increases in tax basis in Carvana Group				(33,573)						(33,573)
Contribution of Class A common stock from related party (in shares)					(43,000)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes (in shares)					(13,000)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes	(1,557)							(1,557)
Options exercised (in shares)					25,000
Options exercised	372							372
Equity-based compensation	8,602							8,602
Stockholders' Equity, end of the period (in shares) at Jun. 30, 2019					49,732,000		101,381,000
Stockholders' Equity, end of the period at Jun. 30, 2019	393,817				$ 50		$ 101	263,409			(111,813)	242,070
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(92,244)										(30,088)	(62,156)
Issuance of Class A common stock (in shares)			100,000			83,000
Exchanges of LLC Units and Adjustments to the non-controlling interests related to equity offerings								1,196				(1,196)
Exchanges of LLC Units (in shares)					511,000		131,000
Establishment of deferred tax assets related to increases in tax basis in Carvana Group				8,891						8,891
Establishment of valuation allowance related to deferred tax assets associated with increases in tax basis in Carvana Group				(8,891)						(8,891)
Contribution of Class A common stock from related party (in shares)					(59,000)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes (in shares)					(11,000)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes	(1,562)							(1,562)
Options exercised (in shares)					40,000
Options exercised	694							694
Equity-based compensation	10,473							10,473
Stockholders' Equity, end of the period (in shares) at Sep. 30, 2019					50,296,000		101,250,000
Stockholders' Equity, end of the period at Sep. 30, 2019	311,178				$ 50		$ 101	274,210			(141,901)	178,718
Stockholders' Equity, beginning of the period (in shares) at Dec. 31, 2019					50,507,000		101,219,000
Stockholders' Equity, beginning of the period at Dec. 31, 2019	191,939				$ 51		$ 101	280,994			(183,034)	93,827
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(183,557)										(59,887)	(123,670)
Issuance of Class A common stock (in shares)						38,000
Exchanges of LLC Units and Adjustments to the non-controlling interests related to equity offerings								36				(36)
Exchanges of LLC Units (in shares)					116,000		19,000
Establishment of deferred tax assets related to increases in tax basis in Carvana Group				1,949						1,949
Establishment of valuation allowance related to deferred tax assets associated with increases in tax basis in Carvana Group				(1,949)						(1,949)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes (in shares)					(8,000)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes	(2,356)							(2,356)
Options exercised (in shares)					7,000
Options exercised	145							145
Equity-based compensation	7,055							7,055
Stockholders' Equity, end of the period (in shares) at Mar. 31, 2020					50,660,000		101,200,000
Stockholders' Equity, end of the period at Mar. 31, 2020	13,226				$ 51		$ 101	285,874			(242,921)	(29,879)
Stockholders' Equity, beginning of the period (in shares) at Dec. 31, 2019					50,507,000		101,219,000
Stockholders' Equity, beginning of the period at Dec. 31, 2019	191,939				$ 51		$ 101	280,994			(183,034)	93,827
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(307,603)
Issuances of Class A common stock, net of underwriters' discounts and commissions and offering expenses		$ 1,100,000
Exchanges of LLC Units and Adjustments to the non-controlling interests related to equity offerings								6,800				(6,800)
Stockholders' Equity, end of the period (in shares) at Sep. 30, 2020					70,538,000		101,200,000
Stockholders' Equity, end of the period at Sep. 30, 2020	961,576				$ 71		$ 101	721,174			(290,836)	531,066
Stockholders' Equity, beginning of the period (in shares) at Mar. 31, 2020					50,660,000		101,200,000
Stockholders' Equity, beginning of the period at Mar. 31, 2020	13,226				$ 51		$ 101	285,874			(242,921)	(29,879)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(106,326)										(40,830)	(65,496)
Issuance of Class A common stock (in shares)					18,333,000	61,000
Issuances of Class A common stock, net of underwriters' discounts and commissions and offering expenses	1,058,940				$ 18			1,058,922
Exchanges of LLC Units and Adjustments to the non-controlling interests related to equity offerings								1,385	$ (643,886)			(1,385)	$ 643,886
Exchanges of LLC Units (in shares)					285,000
Establishment of deferred tax assets related to increases in tax basis in Carvana Group				21,159						21,159
Establishment of valuation allowance related to deferred tax assets associated with increases in tax basis in Carvana Group				(21,159)						(21,159)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes (in shares)					(26,000)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes	(3,135)							(3,135)
Options exercised (in shares)					101,000
Options exercised	2,676							2,676
Equity-based compensation	7,700							7,700
Stockholders' Equity, end of the period (in shares) at Jun. 30, 2020					69,414,000		101,200,000
Stockholders' Equity, end of the period at Jun. 30, 2020	973,081				$ 69		$ 101	709,536			(283,751)	547,126
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(17,720)										(7,085)	(10,635)
Issuance of Class A common stock (in shares)						30,000
Exchanges of LLC Units and Adjustments to the non-controlling interests related to equity offerings					$ 1			5,424				(5,425)
Exchanges of LLC Units (in shares)					1,039,000
Establishment of deferred tax assets related to increases in tax basis in Carvana Group				47,441						47,441
Establishment of valuation allowance related to deferred tax assets associated with increases in tax basis in Carvana Group				$ (47,441)						$ (47,441)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes (in shares)					(2,000)
Forfeitures of restricted stock and restricted stock surrendered in lieu of withholding taxes	(3,129)							(3,129)
Options exercised (in shares)					57,000
Options exercised	2,087				$ 1			2,086
Equity-based compensation	7,257							7,257
Stockholders' Equity, end of the period (in shares) at Sep. 30, 2020					70,538,000		101,200,000
Stockholders' Equity, end of the period at Sep. 30, 2020	$ 961,576				$ 71		$ 101	$ 721,174			$ (290,836)	$ 531,066

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities:
Net loss	$ (307,603)	$ (238,899)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	52,076	27,505
Loss on disposal of property and equipment	5,708	1,046
Provision for bad debt and valuation allowance	10,752	7,030
Gain on loan sales	(129,041)	(99,408)
Equity-based compensation expense	18,011	25,366
Amortization and write-off of debt issuance costs and bond premium	5,745	3,569
Originations of finance receivables	(2,492,741)	(1,877,336)
Proceeds from sale of finance receivables, net	2,478,931	2,027,689
Purchase of finance receivables	0	(161,781)
Principal payments received on finance receivables held for sale	60,113	54,623
Unrealized (gain) loss on beneficial interests in securitization	(4,021)	219
Changes in assets and liabilities:
Accounts receivable	(45,575)	(27,907)
Vehicle inventory	(197,962)	(213,762)
Other assets	(17,743)	(25,755)
Accounts payable and accrued liabilities	112,495	65,452
Operating lease right-of-use assets	(18,237)	(18,896)
Operating lease liabilities	22,699	16,952
Other liabilities	(311)	(382)
Net cash used in operating activities	(446,704)	(434,675)
Cash Flows from Investing Activities:
Purchases of property and equipment, including $21,657 and $6,282, respectively, from related parties	(270,486)	(151,380)
Principal payments received on beneficial interests in securitizations	8,782	2,577
Net cash used in investing activities	(261,704)	(148,803)
Cash Flows from Financing Activities:
Proceeds from short-term revolving facilities	3,425,755	3,093,039
Payments on short-term revolving facilities	(3,867,614)	(3,133,186)
Proceeds from issuance of long-term debt	203,047	367,349
Payments on long-term debt	(18,414)	(11,087)
Payments of debt issuance costs	(11,730)	(8,423)
Net proceeds from issuance of Class A common stock	1,058,940	297,611
Proceeds from exercise of stock options	4,907	1,492
Tax withholdings related to restricted stock awards	(8,619)	(3,552)
Net cash provided by financing activities	786,272	603,243
Net increase in cash, cash equivalents and restricted cash	77,864	19,765
Cash, cash equivalents and restricted cash at beginning of period	118,459	88,709
Cash, cash equivalents and restricted cash at end of period	$ 196,323	$ 108,474

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Purchases of property and equipment, from related parties	$ 270,486	$ 151,380
Related Party
Purchases of property and equipment, from related parties	$ 21,657	$ 6,282

Business Organization

Business Organization	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Organization	NOTE 1 — BUSINESS ORGANIZATION Description of Business Carvana Co. and its wholly-owned subsidiary Carvana Co. Sub LLC (collectively, "Carvana Co."), together with its consolidated subsidiaries (the "Company"), is a leading e-commerce platform for buying and selling used cars. The Company is transforming the used car sales experience by giving consumers what they want — a wide selection, great value and quality, transparent pricing, and a simple, no pressure transaction. Using the website, customers can complete all phases of a used vehicle purchase transaction, including financing their purchase, trading in their current vehicle, and purchasing complementary products such as vehicle service contracts ("VSC") and GAP waiver coverage. Each element of the Company's business, from inventory procurement to fulfillment and overall ease of the online transaction, has been built for this singular purpose. Organization Carvana Co. is a holding company that was formed as a Delaware corporation on November 29, 2016 for the purpose of completing its initial public offering ("IPO") and related transactions in order to operate the business of Carvana Group, LLC and its subsidiaries (collectively, "Carvana Group"). Substantially all of the Company’s assets and liabilities represent the assets and liabilities of Carvana Group, except the Senior Notes (as defined in Note 9 — Debt Instruments) which were issued by Carvana Co. and guaranteed by its and Carvana Group's existing domestic restricted subsidiaries. In accordance with Carvana Group LLC's amended and restated limited liability company agreement (the "LLC Agreement"), Carvana Co. is the sole manager of Carvana Group and conducts, directs and exercises full control over the activities of Carvana Group. There are two classes of common ownership interests in Carvana Group, Class A common units (the "Class A Units") and Class B common units (the "Class B Units"). As further discussed in Note 10 — Stockholders' Equity, the Class A Units and Class B Units (collectively, the "LLC Units") do not hold voting rights, which results in Carvana Group being considered a variable interest entity ("VIE"). Due to Carvana Co.'s power to control and its significant economic interest in Carvana Group, it is considered the primary beneficiary of the VIE and the Company consolidates the financial results of Carvana Group. As of September 30, 2020, Carvana Co. owned approximately 40.4% of Carvana Group and the LLC Unitholders (as defined in Note 10 — Stockholders' Equity) owned the remaining 59.6%.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying interim unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information. All intercompany balances and transactions have been eliminated. Certain information and footnote disclosures normally included in annual financial statements have been condensed or omitted. The Company believes the disclosures made are adequate to prevent the information presented from being misleading. However, the accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included within the Company's most recent Annual Report on Form 10-K. The accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal and recurring items) necessary to present fairly the Company’s financial position as of September 30, 2020, results of operations and changes in stockholder's equity for the three and nine months ended September 30, 2020 and 2019, and cash flows for the nine months ended September 30, 2020 and 2019. Interim results are not necessarily indicative of full year performance because of the impact of seasonal and short-term variations. As discussed in Note 1 — Business Organization, Carvana Group is considered a VIE and Carvana Co. consolidates its financial results due to the determination that it is the primary beneficiary. Liquidity The accompanying interim unaudited condensed consolidated financial statements of the Company have been prepared in conformity with GAAP, which contemplate continuation of the Company as a going concern. The Company has incurred losses from inception through September 30, 2020, and expects to incur additional losses in the future as the Company continues to grow into new markets, build inspection and reconditioning centers ("IRCs") and vending machines, and enhance technology and software. During the nine months ended September 30, 2020, the Company has completed equity offerings of 18.3 million shares of Class A common stock for net proceeds of $1.1 billion. Since March 2020, the Company's forward flow partner has committed to purchase a total of $3.0 billion of the Company's finance receivables. In addition, subsequent to September 30, 2020, the Company increased its floor plan facility to $1.25 billion and extended the maturity to March 31, 2023. Also subsequent to September 30, 2020, the Company issued $1.1 billion in senior unsecured notes, $626.8 million of the proceeds from which were used to repay its senior notes due in 2023 and the remainder of which will be used for general corporate purposes. Management believes that the actions taken in respect of the COVID-19 pandemic, current working capital, results of operations, and existing financing arrangements are sufficient to fund operations for at least one year from the financial statement issuance date. Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions. Certain accounting estimates involve significant judgments, assumptions and estimates by management that have a material impact on the carrying value of certain assets and liabilities, disclosures of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period, which management considers to be critical accounting estimates. The judgments, assumptions and estimates used by management are based on historical experience, management’s experience, and other factors, which are believed to be reasonable under the circumstances. The COVID-19 pandemic has adversely impacted the global economy, as well as the Company's operations, and the extent and duration of the impacts remain unclear. Certain of the Company’s estimates, including, but not limited to, the Company’s allowance for loan losses, inventory valuations, fair value measurements, cancellation reserves, asset impairment charges, and discount rate assumptions, have been and may continue to be impacted and evolve as conditions change as a result of the COVID-19 pandemic. Because of the nature of the judgments and assumptions made by management, actual results could differ materially from these judgments and estimates, which could have a material impact on the carrying values of the Company’s assets and liabilities and the results of operations. Adoption of New Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-13, Financial instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"), which amends the guidance on the impairment of financial instruments by requiring measurement and recognition of expected credit losses for financial assets held. The Company adopted ASU 2016-13 on January 1, 2020. Financial assets measured at fair value through net income are excluded from the scope of ASU 2016-13. The Company's beneficial interests in securitizations are carried at fair value and are thus excluded from ASU 2016-13. Finance receivables originated in connection with the Company’s vehicle sales are held for sale and presented at the lower of amortized cost or fair value. The Company intends to sell the finance receivables prior to their contractual maturity, therefore the recovery of the asset is from its sale rather than maturity and the Company is not required to measure the expected lifetime credit losses. The adoption of ASU 2016-13 did not have a material effect on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13") related to updated requirements over the disclosures of fair value measurements. Under ASU 2018-13, certain disclosure requirements for fair value measurements will be eliminated, modified or added to facilitate better communication around recurring and nonrecurring fair value measurements. ASU 2018-13 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019, with some amendments applied prospectively, some applied retrospectively and early adoption permitted. The Company adopted ASU 2018-13 for its fiscal year beginning January 1, 2020 and it did not have a material effect on the Company's fair value disclosures within its consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ("ASU 2018-15"). The intent of this pronouncement is to align the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software as defined in ASC 350-40. Under ASU 2018-15, the capitalized implementation costs related to a cloud computing arrangement will be amortized over the term of the arrangement and all capitalized implementation amounts will be required to be presented in the same line items of the financial statements as the related hosting fees. ASU 2018-15 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. The Company adopted ASU 2018-15 for its fiscal year beginning January 1, 2020 and it did not have a material effect on its consolidated financial statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities ("ASU 2018-17"). ASU 2018-17 requires reporting entities to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety for determining whether a decision-making fee is a variable interest. The standard is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. Entities are required to apply the amendments in ASU 2018-17 retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. The Company adopted ASU 2018-15 for its fiscal year beginning January 1, 2020 and it did not have an effect on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). ASU 2020-04 provides optional guidance for a limited period of time related to contract modifications and hedge accounting to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The standard is effective from March 12, 2020 through December 31, 2022, except for hedging relationships existing as of December 31, 2022 that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The Company may elect to take advantage of this optional guidance in its transition away from LIBOR within certain debt contracts but does not expect a material impact on its consolidated financial statements. As of September 30, 2020, the Company had not modified any contracts or had any hedge accounting activity in which it utilized the optional guidance under ASU 2020-04. Accounting Standards Issued But Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 will be effective for interim and annual periods beginning after December 15, 2020, with early adoption permitted. The Company plans to adopt ASU 2019-12 for its fiscal year beginning January 1, 2021 and is currently assessing the impact, if any, the guidance will have on its consolidated financial statements.

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	NOTE 3 — PROPERTY AND EQUIPMENT, NET The following table summarizes property and equipment, net as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (in thousands) Land and site improvements $ 130,890 $ 98,530 Buildings and improvements 346,651 229,640 Transportation fleet 148,270 110,302 Software 99,151 66,875 Furniture, fixtures and equipment 56,819 38,123 Total property and equipment excluding construction in progress 781,781 543,470 Less: accumulated depreciation and amortization on property and equipment (146,241) (88,795) Property and equipment excluding construction in progress, net 635,540 454,675 Construction in progress 164,641 88,796 Property and equipment, net $ 800,181 $ 543,471 Depreciation and amortization expense on property and equipment was approximately $18.4 million and $10.3 million for the three months ended September 30, 2020 and 2019, respectively, and approximately $50.9 million and $26.3 million for the

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Goodwill and Intangible Assets, Net	NOTE 4 — GOODWILL AND INTANGIBLE ASSETS, NET On April 12, 2018, the Company acquired Car360, Inc. ("Car360"), a provider of app-based photo capture technology, for approximately $16.7 million, net of cash acquired of approximately $0.4 million. The purchase price was comprised of approximately $6.7 million cash, net of cash acquired, and approximately 0.5 million Class A Units of Carvana Group, with a fair value of approximately $10.0 million. The purchase price was allocated to net tangible assets of approximately $0.2 million and intangible assets of approximately $9.9 million based on their fair values on the acquisition date and a related deferred tax liability of approximately $2.5 million. The deferred tax liability will amortize over 2 years to 7 years, and approximately $0.1 million and $0.0 million was amortized during the three months ended September 30, 2020 and 2019, respectively, and $0.3 million and $0.4 million during the nine months ended September 30, 2020 and 2019, respectively. The excess of the purchase price over the amounts allocated to assets acquired, liabilities assumed and the deferred tax liability was approximately $9.4 million, which has been recorded as goodwill. The historical results of operations for Car360 were not significant to the Company's consolidated results of operations for the periods presented. The following table summarizes intangible assets and goodwill related to the Car360 acquisition as of September 30, 2020 and December 31, 2019: Useful Life September 30, 2020 December 31, 2019 (in thousands) Intangible assets: Developed technology 7 years $ 8,642 $ 8,642 Customer relationships 2 years — 523 Non-compete agreements 5 years 774 774 Intangible assets, acquired cost 9,416 9,939 Less: accumulated amortization (3,426) (2,707) Intangible assets, net $ 5,990 $ 7,232 Goodwill N/A $ 9,353 $ 9,353 Amortization expense was approximately $0.3 million and $0.4 million during the three months ended September 30, 2020 and 2019, respectively, and $1.2 million during both the nine months ended September 30, 2020 and 2019, respectively. As of September 30, 2020, the remaining weighted-average amortization period for definite-lived intangible assets was approximately 4.4 years. The anticipated annual amortization expense to be recognized in future years as of September 30, 2020 is as follows: Expected Future Amortization (in thousands) Remainder of 2020 $ 347 2021 1,389 2022 1,389 2023 1,279 2024 1,235 2025 351 Thereafter — Total $ 5,990

Accounts Payable and Other Accr

Accounts Payable and Other Accrued Liabilities	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Accounts Payable and Other Accrued Liabilities	NOTE 5 — ACCOUNTS PAYABLE AND OTHER ACCRUED LIABILITIES The following table summarizes accounts payable and other accrued liabilities as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (in thousands) Accounts payable, including $12,845 and $9,549, respectively, due to related parties $ 96,477 $ 63,576 Sales taxes and vehicle licenses and fees 65,671 45,812 Accrued compensation and benefits 31,268 21,726 Accrued property and equipment 30,439 23,433 Accrued interest expense 30,167 15,650 Reserve for returns and cancellations 27,197 19,721 Customer deposits 17,541 6,379 Accrued advertising costs 15,426 11,403 Other accrued liabilities 41,690 26,743 Total accounts payable and accrued liabilities $ 355,876 $ 234,443

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 6 — RELATED PARTY TRANSACTIONS Lease Agreements In November 2014, the Company and DriveTime Automotive Group ("DriveTime") entered into a lease agreement that governs the Company’s access to and utilization of temporary storage, reconditioning, offices and parking space at various DriveTime facilities (the "DriveTime Lease Agreement"). The DriveTime Lease Agreement was most recently amended in December 2018. Lease duration varies by location, with cancellable terms, provided 60 days' prior written notice is given, expiring between 2021 and 2024. The Company has the right to exercise up to two consecutive one-year renewal options at up to ten of these locations, less the number of locations renewed under the DriveTime Hub Lease Agreement described below. In March 2017, the Company and DriveTime entered into a lease agreement that governs the Company's access to and utilization of office and parking space at various DriveTime facilities (the "DriveTime Hub Lease Agreement"). The DriveTime Hub Lease Agreement was most recently amended in December 2018. Lease expiration varies by location with most having cancellable terms, provided 60 days' prior written notice is given, expiring in 2021 and the Company having the right to exercise up to two consecutive one-year renewal options at up to ten of these locations, less the number of locations renewed under the DriveTime Lease Agreement described above. The DriveTime Lease Agreement and the DriveTime Hub Lease Agreement both have non-cancellable lease terms of less than twelve months with rights to terminate at the Company's election with 60 days' prior written notice and extension options as described above. At non-reconditioning locations, it is not reasonably certain that the Company will exercise its options to extend the leases or abstain from exercising its termination rights within these lease agreements to create a lease term greater than one year and therefore the Company accounts for them as short-term leases. For these locations the Company makes variable monthly lease payments based on its pro rata utilization of space at each facility plus a pro rata share of each facility’s actual insurance costs and real estate taxes. Management has determined that the costs allocated to the Company are based on a reasonable methodology. The DriveTime Lease Agreement includes the Blue Mound and Delanco inspection and reconditioning centers ("IRCs"). At both of these locations, the Company expects to extend the lease terms beyond twelve months, therefore those locations are not considered short-term leases. The Company occupies all of the space at these IRCs and makes monthly lease payments based on DriveTime's actual rent expense. In addition, the Company is responsible for the actual insurance costs and real estate taxes at these IRC locations. At all locations, the Company is additionally responsible for paying for any tenant improvements it requires to conduct its operations. Management has determined that the costs allocated to the Company are based on a reasonable methodology. In December 2016, the Company entered into a lease agreement related to an IRC in Tolleson, Arizona, with Verde Investments, Inc., an affiliate of DriveTime ("Verde"), with an initial term of approximately 15 years. In August 2018, the Company entered into an additional lease agreement with a coterminous initial term with Verde for contiguous space to that IRC. The lease agreements required monthly rental payments and could have been extended for four additional five-year periods. In September 2020, to consummate a sale leaseback transaction with an unrelated third party, the Company exercised a pre-existing option to purchase the leased land and related assets from Verde for its net book value of approximately $21.7 million thus terminating the lease agreement. The Company immediately sold such land and related assets along with the Company's leasehold improvements at the IRC to a third party who simultaneously leased back the IRC to the Company. In February 2017, the Company entered into a lease agreement with DriveTime for sole occupancy of a fully operational IRC in Winder, Georgia, where the Company previously maintained partial occupancy. The lease has an initial term of eight years, subject to the Company's ability to exercise three renewal options of five years each. In November 2018, the Company entered into a lease agreement with DriveTime of a fully operational IRC near Cleveland, Ohio. DriveTime vacated the facility in February 2019, at which point the Company became the sole occupant and began leasing the full facility from DriveTime. The lease has an initial term of three years, subject to the Company's ability to exercise three renewal options of five years each. Before DriveTime vacated the facility, the Company paid a monthly rental fee for facility and shared reconditioning costs, calculated based on the Company’s pro rata utilization of space at the IRC in a given month, along with a pro rata share of the facility’s actual insurance costs and real estate taxes. Management has determined that the costs allocated to the Company are based on a reasonable methodology. Expenses related to these operating lease agreements are allocated based on usage to inventory and selling, general and administrative expenses in the accompanying unaudited condensed consolidated balance sheets and statements of operations. Costs allocated to inventory are recognized as cost of sales when the inventory is sold. During the three months ended September 30, 2020, total costs related to these operating lease agreements, including those noted above, were approximately $2.4 million with approximately $0.8 million and $1.6 million allocated to inventory and selling, general and administrative expenses, respectively. During the nine months ended September 30, 2020, total costs related to these lease agreements were approximately $6.0 million with approximately $2.4 million and $3.6 million allocated to inventory and selling, general and administrative expenses, respectively. During the three months ended September 30, 2019, total costs related to these lease agreements were approximately $2.0 million with approximately $0.8 million and $1.2 million allocated to inventory and selling, general and administrative expenses, respectively. During the nine months ended September 30, 2019, total costs related to these lease agreements were approximately $6.0 million with approximately $2.5 million and $3.5 million allocated to inventory and selling, general and administrative expenses, respectively. In February 2019, the Company entered into an agreement to assume a lease of an IRC near Nashville, Tennessee that DriveTime leased from an unrelated landlord. The Company became the sole occupant in April 2019. The lease expires in four years, subject to the ability to exercise three renewal options of five years each. DriveTime remained an occupant of the facility through April 1, 2019 but is not fully released from the lease obligations by the landlord. During the three and nine months ended September 30, 2019, the Company purchased certain leasehold improvements and equipment from DriveTime at facilities the Company previously shared with them for DriveTime's net book value of approximately $2.0 million and $6.3 million, respectively. Corporate Office Leases In September 2016, the Company entered into a lease for the second floor of its corporate headquarters in Tempe, Arizona. DriveTime guaranteed up to $0.5 million of the Company's rent payments under that lease through September 2019. In connection with that lease, the Company entered into a sublease with DriveTime for the use of the first floor of the same building. The lease and sublease each have a term of 83 months, subject to the right to exercise three five-year extension options. Pursuant to the sublease, the Company will pay the rent equal to the amounts due under DriveTime's master lease directly to DriveTime's landlord. The rent expense incurred related to this first floor sublease was approximately $0.2 million during both the three months ended September 30, 2020 and 2019 and approximately $0.7 million during both the nine months ended September 30, 2020 and 2019. In December 2019, Verde purchased an office building in Tempe, Arizona that the Company leased from an unrelated landlord prior to Verde's purchase. In connection with the purchase, Verde assumed that lease. The lease has an initial term of ten years, subject to the right to exercise two five-year extension options. The rent expense incurred under the lease with Verde was approximately $0.2 million and $0.6 million during the three and nine months ended September 30, 2020, respectively. Wholesale Revenue In 2020, DriveTime began purchasing wholesale vehicles from the Company through competitive online auctions that are managed by an independent third party. As a result, the Company recognized approximately $1.3 million and $1.4 million of wholesale revenue from DriveTime during the three and nine months ended September 30, 2020, respectively. Master Dealer Agreement In December 2016, the Company entered into a master dealer agreement with DriveTime (the "Master Dealer Agreement"), pursuant to which the Company may sell VSCs to customers purchasing a vehicle from the Company. The Company earns a commission on each VSC sold to its customers, and DriveTime is obligated by and subsequently administers the VSCs. The Company collects the retail purchase price of the VSCs from its customers and remits the purchase price net of commission to DriveTime. During the three months ended September 30, 2020 and 2019, the Company recognized approximately $22.3 million and $15.0 million, respectively, and during the nine months ended September 30, 2020 and 2019, the Company recognized approximately $59.9 million and $38.2 million, respectively, of commissions earned on VSCs sold to its customers and administered by DriveTime, net of a reserve for estimated contract cancellations. The commission earned on the sale of these VSCs is included in other sales and revenues in the accompanying unaudited condensed consolidated statements of operations. In November 2018, the Company amended the Master Dealer Agreement to allow the Company to receive payments for excess reserves based on the performance of the VSCs versus the reserves held by the VSC administrator, once a required claims period for such VSCs has passed. In August 2020, the Company and DriveTime amended the Master Dealer Agreement to adjust excess reserve payment calculations and timing. The Company recognized approximately $3.8 million and $0.8 million during the three months ended September 30, 2020 and 2019, respectively, and approximately $9.5 million and $2.2 million during the nine ended September 30, 2020 and 2019, respectively, related to payments for excess reserves to which it expects to be entitled, which is included in other sales and revenues in the accompanying unaudited condensed consolidated statements of operations. Beginning in 2017, DriveTime also administers the Company's limited warranty provided to all customers and a portion of the Company's GAP waiver coverage under the Master Dealer Agreement. The Company pays a per-vehicle fee to DriveTime to administer the limited warranty included with every purchase and a per-contract fee to DriveTime to administer a portion of the GAP waiver coverage it sells to its customers. As of September 30, 2020, the Company's ongoing GAP waiver coverage sales were administered by an unrelated party. The Company incurred approximately $1.6 million and $1.2 million during the three months ended September 30, 2020 and 2019, respectively, and $4.1 million and $3.1 million during the nine months ended September 30, 2020 and 2019, respectively, related to the administration of limited warranty and GAP waiver coverage. GAP Waiver Insurance Policy The Company purchased insurance policies from BlueShore Insurance Company ("BlueShore"), an affiliate of DriveTime, for approximately $0.1 million and $1.7 million during the three and nine months ended September 2019, respectively, and for a nominal amount during the three and nine months ended September 30, 2020, that reimburses the lienholder of finance receivables with GAP waiver coverage for any GAP waiver claims on a defined set of finance receivables that the Company sold in its securitization transactions. This insurance is transferred with the underlying finance receivable. In March 2019, the Company entered into a retrospective profit sharing agreement with BlueShore under which the Company shares in the profits generated from the insurance policies by receiving a portion of the excess of the premium it paid to BlueShore, net of a fee, compared to the amount BlueShore pays out related to the GAP waiver claims. As of September 30, 2020 and December 31, 2019, the Company held a receivable of approximately $0.1 million and $0.2 million, respectively, which is included in other assets on the accompanying unaudited condensed consolidated balance sheets, related to this retrospective profit sharing agreement. Servicing and Administrative Fees DriveTime provides servicing and administrative functions associated with the Company's finance receivables. The Company incurred expenses of approximately $1.7 million during both the three months ended September 30, 2020 and 2019 and $4.3 million and $2.7 million during the nine months ended September 30, 2020 and 2019, respectively, related to these services. Aircraft Time Sharing Agreement The Company entered into an agreement to share usage of two aircraft owned by Verde and operated by DriveTime on October 22, 2015, and the agreement was subsequently amended in 2017. Pursuant to the agreement, the Company agreed to reimburse DriveTime for actual expenses for each of its flights. The original agreement was for 12 months, with perpetual 12-month automatic renewals. Either the Company or DriveTime can terminate the agreement with 30 days’ prior written notice. The Company reimbursed DriveTime approximately $0.1 million under this agreement during both the three months ended September 30, 2020 and 2019 and approximately $0.2 million and $0.4 million under this agreement during the nine months ended September 30, 2020 and 2019, respectively. Senior Notes Held by Verde As of both September 30, 2020 and December 31, 2019, Verde held $15.0 million of principal of the Company's outstanding Senior Notes, as defined and further discussed in Note 9 — Debt Instruments. On October 2, 2020, the Company redeemed all of the Senior Notes, including the amount held by Verde, as discussed in Note 19 — Subsequent Events. Accounts Payable Due to Related Party As of September 30, 2020 and December 31, 2019, approximately $12.8 million and $9.5 million, respectively, was due to related parties primarily related to the agreements mentioned above, and is included in accounts payable and accrued liabilities in the accompanying unaudited condensed consolidated balance sheets. Contribution Agreements On September 10, 2018, the Company announced a commitment by its Chief Executive Officer, Ernest Garcia III, to contribute shares of the Company's Class A common stock, for each then-current employee from his personal shareholdings to the Company at no charge (the "Share Contributions"). His contributions funded equity awards of 165 restricted stock units to each of the Company's then-current employees upon their satisfying certain employment tenure requirements (the "100k Milestone Gift"). The Company entered into certain contribution agreements related to his commitment in order to effect the transfer of shares from Mr. Garcia to the Company. The Company does not expect Mr. Garcia to incur any tax obligations related to the Share Contributions, but pursuant to a series of contribution agreements, it has indemnified Mr. Garcia from any such obligations that may arise. See Note 10 — Stockholders' Equity and Note 12 — Equity-Based Compensation for further discussion. As of December 31, 2019, Mr. Garcia's commitment related to the 100k Milestone Gift had been fulfilled. IP License Agreement In February 2017, the Company entered into a license agreement that governs the rights of certain intellectual property owned by the Company and the rights of certain intellectual property owned by DriveTime. The license agreement, which was amended and restated in April 2017, generally provides that each party grants to the other certain limited exclusive (other than with respect to the licensor party and its affiliates) and non-exclusive licenses to use certain of its intellectual property, and each party agrees to certain covenants not to sue the other party, its affiliates and certain of its service providers in connection with various patent claims. The exclusive license to DriveTime is limited to the business that is primarily of subprime used car sales to retail customers. However, upon a change of control of either party, both parties’ license rights as to certain future improvements to licensed intellectual property and all limited exclusivity rights are terminated. The agreement does not provide a license to any of the Company's patents, trademarks, logos, customers’ personally identifiable information or any intellectual property related to the Company's vending machines, automated vehicle photography or certain other elements of the Company's brand.

Finance Receivable Sale Agreeme

Finance Receivable Sale Agreements	9 Months Ended
	Sep. 30, 2020
Transfers and Servicing [Abstract]
Finance Receivable Sale Agreements	NOTE 7 — FINANCE RECEIVABLE SALE AGREEMENTS The Company originates loans for its customers and sells them to partners and investors pursuant to finance receivable sale agreements. Historically, the Company has sold loans through two types of arrangements: forward flow agreements, including a master purchase and sale agreement and master transfer agreements, and fixed pool loan sales, including securitization transactions. Master Purchase and Sale Agreement In December 2016, the Company entered into a master purchase and sale agreement (the "Master Purchase and Sale Agreement" or "MPSA") with certain financing partners, including Ally Bank and Ally Financial (the "Ally Parties"). Pursuant to the MPSA, the Company sells finance receivables meeting certain underwriting criteria under a committed forward flow arrangement without recourse to the Company for their post-sale performance. Throughout 2020, the Company and the Ally Parties have amended the MPSA to, among other things and subject to the terms of the agreement, commit the purchaser to purchase up to a maximum of $3.0 billion of principal balances of finance receivables from March 24, 2020 through March 23, 2021, broaden the set of finance receivables covered by the MPSA, and provide additional flexibility in the timing of sales of finance receivables. During the nine months ended September 30, 2020 and 2019, the Company sold approximately $1.8 billion and $0.3 billion, respectively, in principal balances of finance receivables under the MPSA and had approximately $1.5 billion of unused capacity as of September 30, 2020. Master Transfer Agreement In November 2017, the Company entered into a master transfer agreement (the "2017 Master Transfer Agreement") with a purchaser trust (the "2017 Purchaser Trust") under which the 2017 Purchaser Trust committed to purchase an aggregate amount of principal balances of finance receivables. On May 7, 2019, the Company purchased the certificate of the 2017 Purchaser Trust for $34.0 million, net of cash acquired. At the time of acquisition the trust assets included $139.7 million of finance receivables that the Company had previously sold to the trust under the 2017 Master Transfer Agreement, and its liabilities included $105.7 million in associated debt and other liabilities. In connection with the certificate purchase, the Company and Ally Bank entered into an Amended and Restated Loan and Security Agreement (the "A&R Loan and Security Agreement") pursuant to which Ally Bank agreed to provide a $350.0 million revolving credit facility to fund certain automotive finance receivables originated by the Company, as further described in Note 9 — Debt Instruments. In February 2020, the 2017 Master Transfer Agreement terminated in connection with the termination of the A&R Loan and Security Agreement, as referenced in Note 9 — Debt Instruments. During the nine months ended September 30, 2019, prior to the acquisition of the certificate in the trust, the Company sold approximately $139.3 million in principal balances of finance receivables under the Master Transfer Agreement. During the nine months ended September 30, 2019, prior to the certificate purchase, the Company also purchased finance receivables that it previously sold to the purchaser trust under the 2017 Master Transfer Agreement for a total price of approximately $127.7 million and immediately resold such finance receivables into a securitization transaction, which is described further in Note 8 — Securitizations and Variable Interest Entities. This transaction was entered into in connection with the securitization transaction and was entered into independently from the terms of the 2017 Master Transfer Agreement. Securitization Transactions Beginning in 2019, the Company sponsors and establishes securitization trusts to purchase finance receivables from the Company. The securitization trusts issue asset-backed securities, some of which are collateralized by the finance receivables that the Company sells to the securitization trusts. Upon sale of the finance receivables to the securitization trusts, the Company recognizes a gain or loss on sales of finance receivables. The net proceeds from the sales are the fair value of the assets obtained as part of the transactions and typically include cash and at least 5% of the beneficial interests issued by the securitization trusts to comply with Risk Retention Rules, as further discussed in Note 8 — Securitizations and Variable Interest Entities. During the nine months ended September 30, 2020 and 2019, the Company sold approximately $494.8 million and $1.4 billion, respectively, in principal balances of finance receivables through securitization transactions. Gain on Loan Sales The total gain related to finance receivables sold to financing partners and pursuant to securitization transactions was approximately $76.8 million and $39.8 million during the three months ended September 30, 2020 and 2019, respectively, and $129.0 million and $99.4 million during the nine months ended September 30, 2020 and 2019, respectively, which is included in other sales and revenues in the accompanying unaudited condensed consolidated statements of operations.

Securitizations and Variable In

Securitizations and Variable Interest Entities	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Securitizations and Variable Interest Entities	NOTE 8 — SECURITIZATIONS AND VARIABLE INTEREST ENTITIES As noted in Note 7 — Finance Receivable Sale Agreements, the Company sponsors and establishes securitization trusts to purchase finance receivables from the Company. The securitization trusts issue asset-backed securities, some of which are collateralized by the finance receivables that the Company sells to the securitization trusts. Upon sale of the finance receivables to the securitization trusts, the Company recognizes a gain or loss on sales of finance receivables. The net proceeds from the sales are the fair value of the assets obtained as part of the transactions and typically include cash and at least 5% of the beneficial interests issued by the securitization trusts to comply with Regulation RR of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the "Risk Retention Rules"). The beneficial interests retained by the Company include but are not limited to rated notes and certificates of the securitization trusts. The holders of the certificates issued by the securitization trusts have rights to cash flows only after the holders of the notes issued by the securitization trusts have received their contractual cash flows. The securitization trusts have no direct recourse to the Company’s assets, and holders of the securities issued by the securitization trusts can look only to the assets of the securitization trusts that issued their securities for payment. The beneficial interests held by the Company are subject principally to the credit and prepayment risk stemming from the underlying finance receivables. The securitization trusts established in connection with asset-backed securitization transactions are VIEs. For each VIE that the Company establishes in its role as sponsor of securitization transactions, it performs an analysis to determine whether or not it is the primary beneficiary of the VIE. The Company’s continuing involvement with the VIEs consists of retaining a portion of the securities issued by the VIEs and performing ministerial duties as the trust administrator. As of September 30, 2020, the Company is not the primary beneficiary of these securitization trusts because its retained interests in the VIEs do not have exposures to losses or benefits that could potentially be significant to the VIEs. The Company does not consolidate the securitization trusts. The assets the Company retains in the unconsolidated VIEs are presented as beneficial interests in securitizations on the accompanying unaudited condensed consolidated balance sheets at fair value, which as of September 30, 2020 and December 31, 2019 were approximately $112.1 million and $98.8 million, respectively. The Company held no other assets or liabilities related to its involvement with unconsolidated VIEs as of September 30, 2020. The following table summarizes the carrying value and total exposure to losses of its assets related to unconsolidated VIEs with which the Company has continuing involvement, but is not the primary beneficiary at September 30, 2020 and December 31, 2019. Total exposure represents the estimated loss the Company would incur under severe, hypothetical circumstances, such as if the value of the interests in the securitization trusts and any associated collateral declined to zero. The Company believes the possibility of this is remote. As such, the total exposure presented below is not an indication of the Company's expected losses. September 30, 2020 December 31, 2019 Carrying Value Total Exposure Carrying Value Total Exposure (in thousands) Rated notes $ 83,089 $ 83,089 $ 85,234 $ 85,234 Certificates and other assets 29,045 29,045 13,546 13,546 Total unconsolidated VIEs $ 112,134 $ 112,134 $ 98,780 $ 98,780 The beneficial interests in securitizations are considered securities available for sale subject to restrictions on transfer pursuant to the Company’s obligations as a sponsor under Risk Retention Rules. As described in Note 9 — Debt Instruments, the Company has entered into secured borrowing facilities through which it finances certain of these retained beneficial interests in securitizations. These securities are interests in securitization trusts, thus there are no contractual maturities. The amortized cost and fair value of securities available for sale as of September 30, 2020 and December 31, 2019 were as follows: September 30, 2020 December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value (in thousands) Rated notes $ 83,868 $ 83,089 $ 84,983 $ 85,234 Certificates and other assets 25,276 29,045 13,456 13,546 Total securities available for sale $ 109,144 $ 112,134 $ 98,439 $ 98,780

Debt Instruments

Debt Instruments	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt Instruments	NOTE 9 — DEBT INSTRUMENTS Short-Term Revolving Facilities Floor Plan Facility The Company has a floor plan facility with a lender to finance its used vehicle inventory (the "Floor Plan Facility"), which is secured by the Company's vehicle inventory, general intangibles, accounts, and finance receivables. Under the Floor Plan Facility, repayment of amounts drawn for the purchase of a vehicle should generally be made within several days after selling or otherwise disposing of the vehicle. Outstanding balances related to vehicles held in inventory for more than 180 days require monthly principal payments equal to 10% of the original principal amount of that vehicle until the remaining outstanding balance is the lesser of (i) 50% of the original principal amount or (ii) 50% of the wholesale value. Prepayments may be made without incurring a premium or penalty. Additionally, the Company is permitted to make prepayments to the lender to be held as principal payments under the Floor Plan Facility and subsequently reborrow such amounts. The Floor Plan Facility also requires monthly interest payments and that at least 7.5% of the total principal amount owed to the lender is held as restricted cash. As of September 30, 2020, the interest rate on the Floor Plan Facility was approximately 3.55%, the Company had an outstanding balance under this facility of approximately $110.0 million, unused capacity of approximately $840.0 million, and held approximately $8.2 million in restricted cash related to this facility. As of December 31, 2019, the interest rate on the Floor Plan Facility was approximately 4.91%, the Company had an outstanding balance of approximately $515.5 million, unused capacity of approximately $434.5 million, and held approximately $38.7 million in restricted cash related to this facility. Effective October 1, 2020, the Company amended the Floor Plan Facility to increase the line of credit to $1.25 billion, reduce the interest rate to one-month LIBOR plus 3.15% irrespective of the outstanding balance, and extend the maturity date to March 31, 2023. The Company will also be required to pay the lender an availability fee based on the average unused capacity during the prior calendar quarter. Active Finance Receivable Facilities The Company has various short-term revolving credit facilities to fund certain automotive finance receivables originated by the Company prior to selling them, which are typically secured by the finance receivables pledged to them (the "Finance Receivable Facilities"). In January 2020, the Company entered into an agreement pursuant to which a lender agreed to provide a revolving credit facility to fund certain automotive finance receivables originated by the Company. As of September 30, 2020, the lender had committed $425.0 million under this facility. The Company could increase this commitment in $25.0 million increments up to $500.0 million with the lender's consent, and can draw upon this facility until July 23, 2021. On October 28, 2020, the Company increased its commitment under this facility to $500.0 million. In February 2020, the Company entered into an agreement pursuant to which a second lender agreed to provide a $500.0 million revolving credit facility to fund certain automotive finance receivables originated by the Company. The Company can draw upon this facility until February 20, 2022. Both facilities require that any undistributed amounts collected on the pledged finance receivables be held as restricted cash. The facilities require monthly payments of interest and fees based on usage and unused facility amounts. Both facilities self-amortize from the end of the draw period until maturity, offer full prepayment rights, and have no credit sublimits or aging restrictions, subject to negotiated concentration limits. The subsidiaries that entered into these facilities are each wholly-owned, special purpose entities whose assets are not available to the general creditors of the Company. As of September 30, 2020, the Company had $17.0 million outstanding under these facilities, unused capacity of approximately $908.0 million, and held approximately $14.2 million in restricted cash related to these facilities. During the three months ended September 30, 2020, the Company's effective interest rate on these facilities was approximately 1.94%. Past Finance Receivable Facilities In April 2019, the Company entered in a Loan and Security Agreement pursuant to which Ally Bank agreed to provide a $300.0 million revolving credit facility to fund certain automotive finance receivables originated by the Company. The Company could draw upon this credit facility until April 17, 2020, and it had an annual interest rate of one-month LIBOR plus a spread ranging from 1.00% to 1.80%. In May 2019, in connection with the acquisition of the Purchaser Trust described in Note 7 — Finance Receivable Sale Agreements, the Company and Ally Bank entered into the A&R Loan and Security Agreement to provide an additional $350.0 million revolving credit facility to fund certain other automotive finance receivables originated by the Company. The Company could draw upon this credit facility until April 17, 2020, and it had an annual interest rate of one-month LIBOR plus 1.95%. Both credit facilities required that at least 2% of the outstanding pledged finance receivables principal balances, plus any undistributed amounts collected on the pledged finance receivables amount, be held as restricted cash. Interest payments on these credit facilities were payable monthly on each draw date. Principal repayments occurred on the fifteenth day of each calendar month in an amount equal to the undistributed receivables collected. As of December 31, 2019, these credit facilities had an interest rate ranging between approximately 2.76% and 3.71%, and the Company had an outstanding balance under these facilities of approximately $53.4 million, unused capacity of approximately $596.6 million, and held approximately $3.7 million in restricted cash related to these facilities. The Company voluntarily terminated these facilities in February 2020 after entering into the active finance receivable facilities described above. Long-Term Debt Senior Unsecured Notes On September 21, 2018, the Company issued an aggregate of $350.0 million in senior unsecured notes due 2023 (the "Existing Notes") under an indenture entered into by and among the Company, each of the guarantors party thereto and U.S. Bank National Association, as trustee (the "Indenture"). On May 24, 2019, the Company issued $250.0 million in aggregate principal amount of additional notes (the "New Notes") under the Indenture, at a 100.5% premium. The Existing Notes and New Notes (together the "Senior Notes") are treated as a single class for all purposes and have the same terms. The Senior Notes accrue interest at a rate of 8.875% per annum, which is payable semi-annually in arrears on April 1 and October 1 of each year. The Senior Notes mature on October 1, 2023, unless earlier repurchased or redeemed, and are guaranteed by the Company's existing domestic restricted subsidiaries (other than the subsidiaries formed solely for the purpose of facilitating the Company's sales or funding of its finance receivables, if any). The Company may redeem some or all of the Senior Notes on or after October 1, 2020 at redemption prices set forth in the Indenture, plus any accrued and unpaid interest to the redemption date. Prior to October 1, 2020, the Company may redeem up to 35.0% of the aggregate principal amount of the Senior Notes at a redemption price equal to 108.875%, together with accrued and unpaid interest to, but not including, the date of redemption, with the net cash proceeds of certain equity offerings. In addition, the Company may, at its option, redeem some or all of the Senior Notes prior to October 1, 2020, by paying a make-whole premium plus any accrued and unpaid interest, to, but not including, the redemption date. If the Company experiences certain change of control events, it must make an offer to purchase all of the Senior Notes at 101.0% of the principal amount thereof, plus any accrued and unpaid interest, to the repurchase date. The Indenture governing the Senior Notes contains restrictive covenants that, subject to certain conditions, limit the ability of the Company to, among other things, incur additional debt or issue preferred stock, create liens, make intercompany payments, pay dividends and make other distributions in respect of the Company's capital stock, redeem or repurchase the Company’s capital stock or prepay subordinated indebtedness, make certain investments or certain other restricted payments, guarantee indebtedness, designate unrestricted subsidiaries, sell certain kinds of assets, enter into certain types of transactions with affiliates, and effect mergers or consolidations. Certain of these covenants will be suspended if the Senior Notes are assigned an investment grade rating from any two of Moody’s Investors Service, Inc., Standard & Poor’s Rating Services, and Fitch Ratings, Inc., and there is no continuing default. As of September 30, 2020, the Company was in compliance with all covenants. In connection with the issuance of these Senior Notes, Carvana Group amended its LLC agreement to create a class of non-convertible preferred units, which Carvana Co. purchased with its net proceeds from the issuance of these Senior Notes, as further discussed in Note 10 — Stockholders' Equity. The outstanding principal of the Senior Notes, net of unamortized debt issuance costs and including the premium, was approximately $592.9 million and $591.1 million as of September 30, 2020 and December 31, 2019, respectively, of which $15.0 million of principal was held by Verde as of both periods, and is included in long-term debt in the accompanying unaudited condensed consolidated balance sheets. On October 2, 2020, the Company exercised its option to redeem all of the Senior Notes at the redemption price set forth in the Indenture, plus accrued interest, in connection with the issuance of the 2025 Notes and 2028 Notes as defined in Note 19 — Subsequent Events. Notes Payable The Company has entered into promissory note and disbursement agreements to finance certain equipment for its transportation fleet and building improvements. The assets financed with the proceeds from these notes serve as the collateral for each note and certain security agreements related to these assets have cross collateralization and cross default provisions with respect to one another. Each note has a fixed annual interest rate, a two months and is included in current portion of long-term debt in the accompanying unaudited condensed consolidated balance sheets. Real Estate Financing The Company finances certain purchases and construction of its property and equipment through various sale and leaseback transactions. As of September 30, 2020, none of these transactions have qualified for sale accounting due to meeting the criteria for finance leases, or forms of continuing involvement, such as repurchase options or renewal periods that extend the lease for substantially all of the asset's remaining useful life, and are therefore accounted for as financing transactions. These arrangements require monthly payments and have initial terms of 20 to 25 years. Some of the agreements are subject to renewal options of up to 25 years and some are subject to base rent increases throughout the term. As of September 30, 2020 and December 31, 2019, the outstanding liability associated with these sale and leaseback arrangements, net of unamortized debt issuance costs, was approximately $365.3 million and $174.7 million, respectively, and was included in long-term debt in the accompanying unaudited condensed consolidated balance sheets. In November 2017, the Company entered into a master sale-leaseback agreement (the "Master Sale-Leaseback Agreement" or "MSLA"), which was amended in November 2018, pursuant to which it may sell and lease back certain of its owned or leased properties and construction improvements. Under the MSLA, at any time the Company may elect to, and beginning in November 2020 or until a property owner of a leased site consents to the sale-leaseback, the purchaser has the right to demand that the Company repurchase one or more of the properties sold and leased back pursuant to the MSLA for an amount equal to the repurchase price. Repurchase prices are defined in each of the applicable leases and are generally the original purchase prices plus any accrued and unpaid rent. Under the MSLA, the total sales price of properties the Company has sold and is leasing back at any point in time is limited to $75.0 million. As of September 30, 2020 and December 31, 2019, the Company may sell and lease back approximately $75.0 million of its property and equipment under the MSLA. Financing of Beneficial Interests in Securitizations Beginning in June 2019, the Company entered into secured borrowing facilities through which it finances certain retained beneficial interests in securitizations whereby the Company sells such interests and agrees to repurchase them for their fair value at a stated time of repurchase. As discussed in Note 8 — Securitizations and Variable Interest Entities, the Company has retained certain beneficial interests in securitizations pursuant to the Company’s obligations as a sponsor under Risk Retention Rules. As of September 30, 2020 and December 31, 2019, the Company has pledged approximately $76.3 million and $85.0 million, respectively, of its beneficial interests in securitizations as collateral under the repurchase agreements with expected repurchases ranging from January 2026 to July 2027. The securitization trusts distribute payments related to the Company's pledged beneficial interests in securitizations directly to the lenders, which reduces the beneficial interests in securitizations and the related debt balance. Pledged collateral levels are monitored daily and are generally maintained at an agreed-upon percentage of the fair value of the amounts borrowed during the life of the transactions. In the event of a decline in the fair value of the pledged collateral, the repurchase price of the pledged collateral will be increased by the amount of the decline. The outstanding balance of these facilities, net of unamortized debt issuance costs, was approximately $74.4 million and $82.7 million as of September 30, 2020 and December 31, 2019, respectively, of which approximately $22.8 million and $26.4 million, respectively, was included in current portion of long-term debt in the accompanying unaudited condensed consolidated balance sheets.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Stockholders' Equity	NOTE 10 — STOCKHOLDERS' EQUITY Carvana Co.'s amended and restated certificate of incorporation, among other things authorizes (i) 50.0 million shares of Preferred Stock, par value $0.01 per share, (ii) 500.0 million shares of Class A common stock, par value $0.001 per share, and (iii) 125.0 million shares of Class B common stock, par value $0.001 per share. Each share of Class A common stock generally entitles its holder to one vote on all matters to be voted on by stockholders. Each share of Class B common stock held by Ernest Garcia II, Ernest Garcia III, and entities controlled by one or both of them (collectively the "Garcia Parties") generally entitles its holder to ten votes on all matters to be voted on by stockholders, for so long as the Garcia Parties maintain direct or indirect beneficial ownership of at least 25% of the outstanding shares of Carvana Co.'s Class A common stock determined on an as-exchanged basis assuming that all of the Class A Units and Class B Units were exchanged for Class A common stock. All other shares of Class B common stock generally entitle their holders to one vote per share on all matters to be voted on by stockholders. Holders of Class B common stock are not entitled to receive dividends and would not be entitled to receive any distributions upon the liquidation, dissolution or winding down of the Company. Holders of Class A and Class B common stock vote together as a single class on all matters presented to stockholders for their vote or approval, except as otherwise required by applicable law. Carvana Group's amended and restated LLC Agreement provides for two classes of common ownership interests in Carvana Group: (i) Class A Units and (ii) Class B Units (the "LLC Units"). Carvana Co. is required to, at all times, maintain (i) a four-to-five ratio between the number of shares of Class A common stock issued and outstanding by Carvana Co. and the number of Class A Units owned by Carvana Co. (subject to certain exceptions for treasury shares and shares underlying certain convertible or exchangeable securities and subject to adjustment as set forth in the exchange agreement (the "Exchange Agreement") further discussed below, and taking into account Carvana Sub’s 0.1% ownership interest in Carvana, LLC) and (ii) a four-to-five ratio between the number of shares of Class B common stock owned by the original holders of LLC units prior to the IPO (the "Original LLC Unitholders") and the number of Class A Units owned by the Original LLC Unitholders. The Company may issue shares of Class B common stock only to the extent necessary to maintain these ratios. Shares of Class B common stock are transferable only if an Original LLC Unitholder elects to exchange them, together with 1.25 times as many LLC Units, for consideration from the Company. Such consideration from the Company can be, at the Company’s election, either shares of Class A common stock or cash. As of September 30, 2020, there were approximately 214.6 million and 3.4 million Class A Units and Class B Units (as adjusted for the participation thresholds and closing price of Class A common stock on September 30, 2020), respectively, issued and outstanding. As discussed in Note 12 — Equity-Based Compensation, Class B Units were issued under the Company’s LLC Equity Incentive Plan (the "LLC Equity Incentive Plan") and are subject to a participation threshold and are earned over the requisite service period. Equity Offerings On May 24, 2019, the Company completed a public equity offering of 4.2 million shares of its Class A common stock at a public offering price of $65.00 per share and received net proceeds from the offering of approximately $258.8 million after underwriting discounts and commissions and offering expenses. As part of the offering, the Company granted the underwriters a 30-day option to purchase all or part of approximately 0.6 million additional shares of Class A common stock. On June 20, 2019, the underwriters exercised their option in full for an additional $38.9 million in proceeds after offering expenses. The Company used the net proceeds to purchase approximately 6.0 million newly-issued LLC Units in Carvana Group. On April 1, 2020, the Company completed a registered direct offering to investors of approximately 13.3 million shares of its Class A common stock at an offering price of $45.00 per share and received net proceeds from the offering of approximately $599.5 million. Ernest Garcia II, through Verde, and Ernest Garcia III each invested approximately $25.0 million or approximately 0.6 million shares of the Class A common stock, in the offering. The Company used the net proceeds to purchase approximately 16.7 million newly-issued LLC Units in Carvana Group. On May 21, 2020, the Company completed a public equity offering of 5.0 million shares of its Class A common stock at an offering price of $92.00 per share and received net proceeds from the offering of approximately $459.5 million. The Company used the net proceeds to purchase approximately 6.3 million newly-issued LLC Units in Carvana Group. Exchange Agreement Carvana Co. and the Original LLC Unitholders together with any holders of LLC Units issued subsequent to the IPO (the "LLC Unitholders") entered into an Exchange Agreement under which each LLC Unitholder (and certain permitted transferees thereof) may receive shares of the Company's Class A common stock in exchange for their LLC Units on a four-to-five conversion ratio, or cash at the option of the Company, subject to (i) conversion ratio adjustments for stock splits, stock dividends, reclassifications and similar transactions, (ii) vesting for certain LLC Units, and (iii) the respective participation threshold for Class B Units. To the extent such owners also hold Class B common stock, they are required to deliver to Carvana Co. a number of shares of Class B common stock equal to the number of shares of Class A common stock being exchanged for. Any shares of Class B common stock so delivered are canceled. The number of exchangeable Class B Units is determined based on the value of Carvana Co.'s Class A common stock and the applicable participation threshold. During the nine months ended September 30, 2020, certain LLC Unitholders exchanged 1.8 million LLC Units and 0.0 million shares of Class B common stock for 1.4 million newly-issued shares of Class A common stock. Simultaneously, and in connection with these exchanges, Carvana Co. received approximately 1.8 million LLC Units, increasing its total ownership interest in Carvana Group, and canceled the exchanged shares of Class B common stock. Class A Non-Convertible Preferred Units On October 2, 2018, Carvana Group amended its LLC Agreement to create a class of non-convertible preferred units (the "Class A Non-Convertible Preferred Units"), effective September 21, 2018. The Class A Non-Convertible Preferred Units were created in connection with Carvana Co.'s issuance of the Senior Notes in September 2018 and May 2019, as discussed further in Note 9 — Debt Instruments. Carvana Co. used its net proceeds from the Senior Notes to purchase 600,000 Class A Non-Convertible Preferred Units. In the event Carvana Co. makes payments on the Senior Notes, Carvana Group will make an equal cash distribution, as necessary, to the Class A Non-Convertible Preferred Units. For each $1,000 principal amount of Senior Notes that Carvana Co. repays or otherwise retires, one Class A Non-Convertible Preferred Unit shall be canceled and retired. As discussed further in Note 9 — Debt Instruments and Note 19 — Subsequent Events, the Company redeemed its Senior Notes on October 2, 2020 using a portion of its net proceeds from the issuance of its 2025 Notes and 2028 Notes, at which point the 600,000 Class A Non-Convertible Preferred Units were canceled and retired. Also, on October 2, 2020, Carvana Group, LLC amended and restated its LLC Agreement to, among other things, authorize the issuance of preferred units to be sold to Carvana Co. in connection with the issuance of the 2025 Notes and 2028 Notes. Contribution of Class A Common Shares From Ernest Garcia III During the three and nine months ended September 30, 2019, the Company and its Chief Executive Officer, Ernest Garcia III, entered into contribution agreements (the "Contribution Agreements") in connection with the 100k Milestone Gift, as defined in Note 6 — Related Party Transactions. Pursuant to the Contribution Agreements, Mr. Garcia contributed approximately 0.1 million and 0.2 million shares of the Company's Class A common stock to the Company during the three and nine months ended September 30, 2019, respectively, at no charge. The Company subsequently granted approximately 0.1 million and 0.2 million restricted stock units during the three and nine months ended September 30, 2019, respectively, to employees. Refer to Note 12 — Equity-Based Compensation for further discussion. Although the Company does not expect Mr. Garcia to incur any tax obligations related to the Share Contribution, it has indemnified Mr. Garcia from any such obligations that may arise. As of December 31, 2019, Mr. Garcia's commitment related to the 100k Milestone Gift had been fulfilled.

Non-controlling Interests

Non-controlling Interests	9 Months Ended
	Sep. 30, 2020
Noncontrolling Interest [Abstract]
Non-controlling Interests	NOTE 11 — NON-CONTROLLING INTERESTS As discussed in Note 1 — Business Organization, Carvana Co. consolidates the financial results of Carvana Group and reports a non-controlling interest related to the portion of Carvana Group owned by the LLC Unitholders. Changes in the ownership interest in Carvana Group while Carvana Co. retains its controlling interest will be accounted for as equity transactions. Exchanges of LLC Units result in a change in ownership and reduce the amount recorded as non-controlling interests and increase additional paid-in capital. Upon the issuance of shares of Class A common stock by Carvana Co. related to the Company’s equity compensation plans, such as the exercise of options, issuance of restricted or non-restricted stock, payment of bonuses in stock or settlement of stock appreciation rights in stock, Carvana Group is required to issue to Carvana Co. a number of Class A Units equal to 1.25 times the number of shares of Class A common stock being issued in connection with the exercise of such options or issuance of other types of equity compensation, subject to adjustment for stock splits, stock dividends, reclassifications and similar transactions. Activity related to the Company's equity compensation plans may result in a change in ownership which will impact the amount recorded as non-controlling interest and additional paid-in capital. The non-controlling interest related to the Class B Units is determined based on the respective participation thresholds and the share price of Class A common stock on an as-converted basis. To the extent that the number of as-converted Class B Units change or Class B Units are forfeited, the resulting difference in ownership will be accounted for as equity transactions adjusting the non-controlling interest and additional paid-in capital. During the nine months ended September 30, 2020 and 2019, the total adjustments related to exchanges of LLC Units were a decrease in non-controlling interests and a corresponding increase in additional paid-in capital of approximately $6.8 million and $4.7 million, respectively, which have been included in exchanges of LLC Units in the accompanying unaudited condensed consolidated statements of stockholders' equity. During the nine months ended September 30, 2020 and 2019, Carvana Co. utilized its net proceeds from its equity offerings to purchase LLC Units, which resulted in adjustments to increase non-controlling interests and to decrease additional paid-in capital by approximately $643.9 million and $201.0 million, respectively, which have been included in adjustment to non-controlling interests related to equity offerings in the accompanying unaudited condensed consolidated statements of stockholders' equity. As of September 30, 2020, Carvana Co. owned approximately 40.4% of Carvana Group with the LLC Unitholders owning the remaining 59.6%. The net loss attributable to the non-controlling interests on the accompanying unaudited condensed consolidated statements of operations represents the portion of the net loss attributable to the economic interest in Carvana Group held by the non-controlling LLC Unitholders calculated based on the weighted average non-controlling interests' ownership during the periods presented. Nine Months Ended September 30, 2020 2019 (in thousands) Transfers (to) from non-controlling interests: Decrease as a result of issuances of Class A common stock $ (643,886) $ (201,015) Increase as a result of exchanges of LLC Units 6,845 4,666 Total transfers to non-controlling interests $ (637,041) $ (196,349)

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Equity-Based Compensation	NOTE 12 — EQUITY-BASED COMPENSATION Equity-based compensation expense is recognized based on amortizing the grant-date fair value on a straight-line basis over the requisite service period, which is generally the vesting period of the award, less actual forfeitures. A summary of equity-based compensation expense recognized during the three and nine months ended September 30, 2020 and 2019 is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Class B Units $ 256 $ 648 $ 973 $ 1,804 Restricted Stock Units and Awards excluding those granted in relation to the 100k Milestone Gift 4,887 3,513 14,656 9,194 Restricted Stock Units granted in relation to the 100k Milestone Gift — 4,446 — 10,379 Options 1,777 1,369 5,193 4,033 Class A Units 337 497 1,190 1,687 Total equity-based compensation 7,257 10,473 22,012 27,097 Equity-based compensation capitalized to property and equipment (1,406) (852) (4,001) (1,731) Equity-based compensation capitalized to inventory (90) (1,824) (188) (3,659) Equity-based compensation, net of capitalized amounts $ 5,761 $ 7,797 $ 17,823 $ 21,707 As of September 30, 2020, the total unrecognized compensation expense related to outstanding equity awards was approximately $66.4 million, which the Company expects to recognize over a weighted-average period of approximately 2.8 years. Total unrecognized equity-based compensation expense will be adjusted for actual forfeitures. 2017 Omnibus Incentive Plan In connection with the IPO, the Company adopted the 2017 Omnibus Incentive Plan (the "2017 Incentive Plan"). Under the 2017 Incentive Plan, 14.0 million shares of Class A common stock are available for issuance, which the Company may grant as stock options, stock appreciation rights, restricted stock, restricted stock units ("RSUs") and other stock-based awards to employees, directors, officers and consultants. The majority of equity granted by the Company vests over four year periods based on continued employment with the Company. The RSUs granted in relation to the 100k Milestone Gift vested within one week of the grant date. As of September 30, 2020, approximately 9.8 million shares remain available for future equity award grants under this plan. Class A Units During 2018, the Company granted certain employees Class A Units with service-based vesting over two Class B Units four

Loss Per Share

Loss Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Loss Per Share	NOTE 13 — LOSS PER SHARE Basic and diluted net loss per share is computed by dividing the net loss attributable to Class A common stockholders by the weighted-average shares of Class A common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potentially dilutive shares. For all periods presented, potentially dilutive shares are excluded from diluted net loss per share because they have an anti-dilutive impact. Therefore, basic and diluted net loss per share attributable to Class A common stockholders are the same for all periods presented. The following table presents the calculation of basic and diluted net loss per share during the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands, except per share data) Numerator: Net loss $ (17,720) $ (92,244) $ (307,603) $ (238,899) Net loss attributable to non-controlling interests 10,635 62,156 199,801 165,373 Net loss attributable to Carvana Co. Class A common stockholders, basic and diluted $ (7,085) $ (30,088) $ (107,802) $ (73,526) Denominator: Weighted-average shares of Class A common stock outstanding 70,064 50,003 62,350 45,973 Nonvested weighted-average restricted stock awards (59) (216) (106) (247) Weighted-average shares of Class A common stock to compute basic and diluted net loss per Class A common share 70,005 49,787 62,244 45,726 Net loss per share of Class A common stock, basic and diluted $ (0.10) $ (0.60) $ (1.73) $ (1.61) Shares of Class B common stock do not share in the losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted net loss per share of Class B common stock under the two-class method has not been presented. LLC Units (adjusted for the Exchange Ratio and participation thresholds) are considered potentially dilutive shares of Class A common stock because they are exchangeable into shares of Class A common stock, if the Company elects not to settle exchanges in cash.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 14 — INCOME TAXES As described in Note 1 — Business Organization, as a result of the IPO, Carvana Co. began consolidating the financial results of Carvana Group. Carvana Group is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, Carvana Group is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by Carvana Group is passed through to and included in the taxable income or loss of its members, including Carvana Co., based on its economic interest held in Carvana Group. Carvana Co. was formed on November 29, 2016 and did not engage in any operations prior to the IPO. Carvana Co. is taxed as a corporation and is subject to U.S. federal, state and local income taxes with respect to its allocable share of any taxable income or loss of Carvana Group, as well as any stand-alone income or loss generated by Carvana Co. As described in Note 10 — Stockholders' Equity, the Company acquired approximately 1.3 million and 1.8 million LLC Units, respectively, during the three and nine months ended September 30, 2020 in connection with exchanges with LLC Unitholders. During the three and nine months ended September 30, 2020, the Company recorded a gross deferred tax asset of approximately $47.4 million and $56.5 million, respectively, associated with the basis difference in its investment in Carvana Group related to the acquisition of these LLC Units which is reflected as an increase to additional paid-in capital in the accompanying unaudited condensed consolidated statement of stockholders' equity. As described in Note 10 — Stockholders' Equity, the Company purchased a total of approximately 22.9 million newly-issued LLC Units of Carvana Group in connection with a direct offering and a public equity offering during the three and nine months ended September 30, 2020. During the nine months ended September 30, 2020, the Company recognized a gross deferred tax asset of approximately $14.1 million associated with a portion of the basis difference resulting from this purchase of LLC Units which is reflected as an increase to additional paid-in capital in the accompanying unaudited condensed consolidated statements of stockholders' equity. As described in Note 4 — Goodwill and Intangible Assets, Net, Carvana Group acquired Car360 on April 12, 2018. The acquisition included various intangible assets, and as a result the Company recognized a deferred tax liability of approximately $2.5 million which is reflected within other liabilities in the accompanying unaudited condensed consolidated balance sheet. The deferred tax liability will be amortized over two During the nine months ended September 30, 2020, management performed an assessment of the recoverability of deferred tax assets. Management determined, based on the accounting standards applicable to such assessment, that there was sufficient negative evidence as a result of the Company’s cumulative losses to conclude it was more likely than not that its deferred tax assets would not be realized and has recorded a full valuation allowance against its deferred tax assets. In the event that management was to determine that the Company would be able to realize its deferred tax assets in the future in excess of their net recorded amount, an adjustment to the valuation allowance would be made which would reduce the provision for income taxes. The Company recognizes uncertain income tax positions when it is more-likely-than-not the position will be sustained upon examination. As of September 30, 2020 and December 31, 2019, the Company has not identified any uncertain tax positions and has not recognized any related reserves. In March 2020, the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") was enacted in response to the COVID-19 pandemic. The Company does not expect the provisions of the legislation to have a significant impact on the effective tax rate or income tax payable and deferred income tax positions of the Company. The Company's effective tax rate for the three months ended September 30, 2020 and 2019 was an expense of 0.4% and 0.0%, respectively, and for the nine months ended September 30, 2020 and 2019 was a benefit of 0.1% and 0.0%, respectively, related to Car360, a wholly-owned subsidiary acquired in April 2018. Tax Receivable Agreement Carvana Co. expects to obtain an increase in its share of the tax basis in the net assets of Carvana Group when LLC Units are exchanged by the LLC Unitholders and other qualifying transactions. As described in Note 10 — Stockholders' Equity, each change in outstanding shares of Class A common stock results in a corresponding increase or decrease in Carvana Co.'s ownership of LLC Units. The Company intends to treat any exchanges of LLC Units as direct purchases of LLC interests for U.S. federal income tax purposes. These increases in tax basis may reduce the amounts that Carvana Co. would otherwise pay in the future to various taxing authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. In connection with the IPO, the Company entered into a Tax Receivable Agreement ("TRA"). Under the TRA, the Company generally will be required to pay to the Original LLC Unitholders 85% of the amount of cash savings, if any, in U.S. federal, state or local tax that the Company actually realizes directly or indirectly (or are deemed to realize in certain circumstances) as a result of (i) certain tax attributes created as a result of any sales or exchanges (as determined for U.S. federal income tax purposes) to or with the Company of their interests in Carvana Group for shares of Carvana Co.'s Class A common stock or cash, including any basis adjustment relating to the assets of Carvana Group and (ii) tax benefits attributable to payments made under the TRA (including imputed interest). The Company expects to benefit from the remaining 15% of any tax benefits that it may actually realize. To the extent that the Company is unable to timely make payments under the TRA for any reason, such payments generally will be deferred and will accrue interest until paid. If the Internal Revenue Service or a state or local taxing authority challenges the tax basis adjustments that give rise to payments under the TRA and the tax basis adjustments are subsequently disallowed, the recipients of payments under the agreement will not reimburse the Company for any payments the Company previously made to them. Any such disallowance would be taken into account in determining future payments under the TRA and would, therefore, reduce the amount of any such future payments. Nevertheless, if the claimed tax benefits from the tax basis adjustments are disallowed, the Company’s payments under the TRA could exceed its actual tax savings, and the Company may not be able to recoup payments under the TRA that were calculated on the assumption that the disallowed tax savings were available. The TRA provides that if (i) certain mergers, asset sales, other forms of business combinations, or other changes of control were to occur, (ii) there is a material breach of any material obligations under the TRA; or (iii) the Company elects an early termination of the TRA, then the TRA will terminate and the Company's obligations, or the Company's successor’s obligations, under the TRA will accelerate and become due and payable, based on certain assumptions, including an assumption that the Company would have sufficient taxable income to fully utilize all potential future tax benefits that are subject to the TRA and that any LLC Units that have not been exchanged are deemed exchanged for the fair market value of the Company's Class A common stock at the time of termination. As of September 30, 2020, the Company has concluded based on applicable accounting standards, that it was more likely than not that its deferred tax assets subject to the TRA would not be realized; therefore, the Company has not recorded a liability related to the tax savings it may realize from utilization of such deferred tax assets. As of September 30, 2020, the total unrecorded TRA liability is approximately $238.5 million. If utilization of the deferred tax assets subject to the TRA becomes more likely than not in the future, the Company will record a liability related to the TRA which will be recognized as expense within its consolidated statements of operations.

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	NOTE 15 — LEASES The Company is party to various lease agreements for real estate and transportation equipment. For each lease agreement, the Company determines its lease term as the non-cancellable period of the lease and includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The Company also assesses whether each lease is an operating or finance lease at the lease commencement date. Rent expense of operating leases is recognized on a straight-line basis over the lease term and includes scheduled rent increases as well as amortization of tenant improvement allowances. Operating Leases As of September 30, 2020, the Company is a tenant under various operating leases related to certain of its hubs, vending machines, IRCs, storage, parking and corporate offices. The initial terms expire at various dates between 2020 and 2032. Many of the leases include one or more renewal options ranging from one Refer to Note 6 — Related Party Transactions for further discussion of operating leases with related parties. Finance Leases The Company has finance leases for certain equipment in its transportation fleet. The leases have initial terms of two four Lease Costs and Activity The Company's lease costs and activity during the three and nine months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Lease costs: Finance leases: Amortization of finance lease assets $ 4,239 $ 2,222 $ 11,685 $ 5,477 Interest obligations under finance leases 911 547 2,604 1,392 Total finance lease costs $ 5,150 $ 2,769 $ 14,289 $ 6,869 Operating leases: Fixed lease costs to non-related parties $ 7,325 $ 3,487 $ 20,330 $ 8,759 Fixed lease costs to related parties 1,959 1,849 6,086 5,577 Variable short-term lease costs to related parties 1,002 390 1,397 1,177 Total operating lease costs $ 10,286 $ 5,726 $ 27,813 $ 15,513 Cash payments related to lease liabilities included in operating cash flows: Operating lease liabilities to non-related parties $ 12,264 $ 6,147 Operating lease liabilities to related parties $ 5,876 $ 6,333 Interest payments on finance lease liabilities $ 2,604 $ 1,392 Cash payments related to lease liabilities included in financing cash flows: Principal payments on finance lease liabilities $ 12,860 $ 5,581 Maturity Analysis of Lease Liabilities The following table summarizes maturities of lease liabilities as of September 30, 2020: Operating Leases (1) Finance Leases Related Party (2) Non-Related Party Total Operating Total (in thousands) Remainder of 2020 $ 5,799 $ 1,361 $ 4,115 $ 5,476 $ 11,275 2021 21,395 5,236 19,115 24,351 45,746 2022 20,320 5,225 17,583 22,808 43,128 2023 19,119 5,233 15,402 20,635 39,754 2024 11,801 3,968 13,517 17,485 29,286 Thereafter 5,416 8,501 146,368 154,869 160,285 Total minimum lease payments 83,850 29,524 216,100 245,624 329,474 Less: amount representing interest (8,409) (6,599) (87,399) (93,998) (102,407) Total lease liabilities $ 75,441 $ 22,925 $ 128,701 $ 151,626 $ 227,067 (1) Leases that are on a month-to-month basis, short-term leases, and lease extensions that the Company does not expect to exercise are not included. (2) Related party lease payments exclude rent payments due under the DriveTime Lease Agreement and the DriveTime Hub Lease Agreement for locations where the Company shares space with DriveTime, as those are variable lease payments contingent upon the Company's utilization of the leased assets. As of September 30, 2020 and December 31, 2019, none of the Company's lease agreements contain material residual value guarantees or material restrictive covenants. Lease Terms and Discount Rates The weighted-average remaining lease terms and discount rates as of September 30, 2020 and 2019 were as follows, excluding short-term operating leases: September 30, 2020 2019 Weighted-average remaining lease terms (years) Operating leases 10.6 10.4 Finance leases 4.3 4.5 Weighted-average discount rate Operating leases 8.3 % 8.7 % Finance leases 5.3 % 5.5 %
Leases	NOTE 15 — LEASES The Company is party to various lease agreements for real estate and transportation equipment. For each lease agreement, the Company determines its lease term as the non-cancellable period of the lease and includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The Company also assesses whether each lease is an operating or finance lease at the lease commencement date. Rent expense of operating leases is recognized on a straight-line basis over the lease term and includes scheduled rent increases as well as amortization of tenant improvement allowances. Operating Leases As of September 30, 2020, the Company is a tenant under various operating leases related to certain of its hubs, vending machines, IRCs, storage, parking and corporate offices. The initial terms expire at various dates between 2020 and 2032. Many of the leases include one or more renewal options ranging from one Refer to Note 6 — Related Party Transactions for further discussion of operating leases with related parties. Finance Leases The Company has finance leases for certain equipment in its transportation fleet. The leases have initial terms of two four Lease Costs and Activity The Company's lease costs and activity during the three and nine months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Lease costs: Finance leases: Amortization of finance lease assets $ 4,239 $ 2,222 $ 11,685 $ 5,477 Interest obligations under finance leases 911 547 2,604 1,392 Total finance lease costs $ 5,150 $ 2,769 $ 14,289 $ 6,869 Operating leases: Fixed lease costs to non-related parties $ 7,325 $ 3,487 $ 20,330 $ 8,759 Fixed lease costs to related parties 1,959 1,849 6,086 5,577 Variable short-term lease costs to related parties 1,002 390 1,397 1,177 Total operating lease costs $ 10,286 $ 5,726 $ 27,813 $ 15,513 Cash payments related to lease liabilities included in operating cash flows: Operating lease liabilities to non-related parties $ 12,264 $ 6,147 Operating lease liabilities to related parties $ 5,876 $ 6,333 Interest payments on finance lease liabilities $ 2,604 $ 1,392 Cash payments related to lease liabilities included in financing cash flows: Principal payments on finance lease liabilities $ 12,860 $ 5,581 Maturity Analysis of Lease Liabilities The following table summarizes maturities of lease liabilities as of September 30, 2020: Operating Leases (1) Finance Leases Related Party (2) Non-Related Party Total Operating Total (in thousands) Remainder of 2020 $ 5,799 $ 1,361 $ 4,115 $ 5,476 $ 11,275 2021 21,395 5,236 19,115 24,351 45,746 2022 20,320 5,225 17,583 22,808 43,128 2023 19,119 5,233 15,402 20,635 39,754 2024 11,801 3,968 13,517 17,485 29,286 Thereafter 5,416 8,501 146,368 154,869 160,285 Total minimum lease payments 83,850 29,524 216,100 245,624 329,474 Less: amount representing interest (8,409) (6,599) (87,399) (93,998) (102,407) Total lease liabilities $ 75,441 $ 22,925 $ 128,701 $ 151,626 $ 227,067 (1) Leases that are on a month-to-month basis, short-term leases, and lease extensions that the Company does not expect to exercise are not included. (2) Related party lease payments exclude rent payments due under the DriveTime Lease Agreement and the DriveTime Hub Lease Agreement for locations where the Company shares space with DriveTime, as those are variable lease payments contingent upon the Company's utilization of the leased assets. As of September 30, 2020 and December 31, 2019, none of the Company's lease agreements contain material residual value guarantees or material restrictive covenants. Lease Terms and Discount Rates The weighted-average remaining lease terms and discount rates as of September 30, 2020 and 2019 were as follows, excluding short-term operating leases: September 30, 2020 2019 Weighted-average remaining lease terms (years) Operating leases 10.6 10.4 Finance leases 4.3 4.5 Weighted-average discount rate Operating leases 8.3 % 8.7 % Finance leases 5.3 % 5.5 %

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 16 — COMMITMENTS AND CONTINGENCIES Accrued Limited Warranty As part of its retail strategy, the Company provides a 100-day or 4,189-mile limited warranty to customers to repair certain broken or defective components of each used vehicle sold. As such, the Company accrues for such repairs based on actual claims incurred to-date and repair reserves based on historical trends. The liability was approximately $8.2 million and $3.7 million as of September 30, 2020 and December 31, 2019, respectively, and is included in accounts payable and other accrued liabilities in the accompanying unaudited condensed consolidated balance sheets. Legal Matters From time to time, the Company is involved in various claims and legal actions that arise in the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, the Company does not believe that the ultimate resolution of these actions will have a material adverse effect on its financial position, results of operations, liquidity and capital resources. Future litigation may be necessary to defend the Company and its partners by determining the scope, enforceability and validity of third party proprietary rights or to establish its proprietary rights. The results of any current or future litigation cannot be predicted with certainty, and regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources and other factors.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 17 — FAIR VALUE OF FINANCIAL INSTRUMENTS As of September 30, 2020 and December 31, 2019, the Company held certain assets that were required to be measured at fair value on a recurring basis and beneficial interests in securitizations for which it elected the fair value option. The following tables are a summary of fair value measurements and hierarchy level at September 30, 2020 and December 31, 2019: As of September 30, 2020: Carrying Value Level 1 Level 2 Level 3 (in thousands) Assets: Money market funds (1) $ 148,406 $ 148,406 $ — $ — Beneficial interests in securitizations 112,134 — — 112,134 As of December 31, 2019: Carrying Value Level 1 Level 2 Level 3 (in thousands) Assets: Money market funds (1) $ 56,435 $ 56,435 $ — $ — Beneficial interests in securitizations 98,780 — 29,222 69,558 _________________________ (1) Consists of highly liquid investments with original maturities of three months or less and classified in cash and cash equivalents in the accompanying unaudited condensed consolidated balance sheets. As of September 30, 2020 and December 31, 2019, the Company has purchase price adjustment receivables of approximately $10.2 million and $6.9 million, respectively, which are carried at fair value and classified as other assets in the accompanying unaudited condensed consolidated balance sheets. Under the Master Purchase and Sale Agreement, the purchaser will make future cash payments to the Company based on the performance of the finance receivables sold. The fair value of the purchase price adjustment receivables are determined based on the extent to which the Company’s estimated performance of the underlying finance receivables exceeds a mutually agreed upon performance threshold of the underlying finance receivables as of measurement dates specified in the Master Purchase and Sale Agreement. The Company develops its estimate of future cumulative losses based on the historical performance of finance receivables it originated with similar characteristics as well as general macro-economic trends. The Company then utilizes a discounted cash flow model to calculate the present value of the expected future payment amounts. Due to the lack of observable market data these receivables are classified as Level 3. The adjustments to the fair value of the purchase price adjustment receivables were a gain of approximately $3.4 million and a loss of approximately $1.6 million during the three and nine months ended September 30, 2020, respectively, and are reflected in other (income) expense, net in the accompanying unaudited condensed consolidated statements of operations. There were no adjustments to the fair value of the purchase price adjustment receivables during the three and nine months ended September 30, 2019. Beneficial Interests in Securitizations Beneficial interests in securitizations include notes and certificates of the securitization trusts, the same securities as issued to other investors as described in Note 8 — Securitizations and Variable Interest Entities. Level 2 assets typically include beneficial interests in securitization transactions that closed near the end of the period due to the proximity to the end of the period and lack of observable changes in economic inputs. Given the changes in the market and overall economic inputs between pricing and closing, the March 2020 securitization transaction was classified as Level 3 as of March 31, 2020. The March 2020 transaction was the only securitization completed during nine months ended September 30, 2020. The Company's beneficial interests in securitizations include rated notes and certificates and other assets, all of which are classified as Level 3 due to the lack of observable market data. The Company determines the fair value of its rated notes based on non-binding broker quotes. The non-binding broker quotes are based on models that consider the prevailing interest rates, recent market transactions, and current business conditions. The Company determines the fair value of its certificates and other assets using a combination of non-binding market quotes and internally developed discounted cash flow models. The discounted cash flow models use discount rates based on prevailing interest rates and the characteristics of the specific instruments. As of September 30, 2020 and December 31, 2019, the discount rates were 2.1% to 10.0% and 10.0%, respectively. Significant increases or decreases in the inputs to the models could result in a significantly higher or lower fair value measurement. The Company elected the fair value option on its beneficial interests in securitizations, which allows it to recognize changes in the fair value of these assets in the period the fair value changes. Changes in the fair value of the beneficial interests in securitizations are reflected in other (income) expense, net in the accompanying unaudited condensed consolidated statements of operations. For beneficial interests in securitizations measured at fair value on a recurring basis, the Company's transfers between levels of the fair value hierarchy are deemed to have occurred at the beginning of the reporting period on a quarterly basis. During the nine months ended September 30, 2020, the Company transferred beneficial interests acquired as part of the December 2019 securitization transaction initially classified as Level 2 from Level 2 to Level 3. During the nine months ended September 30, 2019, the Company transferred beneficial interests acquired as part of the March 2019 and June 2019 securitization transactions initially classified as Level 2 from Level 2 to Level 3. The assets are typically initially classified as Level 2 due to the transactions' proximity to the end of each respective reporting period and the lack of observable changes in economic inputs. As noted above, the Company uses significant unobservable inputs to measure the fair value of these assets on a recurring basis, thus they will be classified as Level 3 in future periods. There were no transfers out of Level 3 during the three and nine months ended September 30, 2020 or 2019. The following table presents additional information about Level 3 beneficial interests in securitizations measured at fair value on a recurring basis for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Opening Balance $ 116,563 $ 18,600 $ 69,558 $ — Transfers into Level 3 — 26,592 29,222 46,123 Received in securitization transactions — — 39,578 — Cash receipts (11,838) (2,913) (30,245) (4,021) Change in fair value 7,409 (396) 4,021 (219) Ending Balance $ 112,134 $ 41,883 $ 112,134 $ 41,883 Fair Value of Financial Instruments The carrying amounts of restricted cash, accounts receivable, accounts payable and accrued liabilities, and accounts payable to related party approximate fair value because their respective maturities are less than three months. The carrying value of the short-term revolving facilities were determined to approximate fair value due to their short-term duration and variable interest rates that approximate prevailing interest rates as of each reporting period. The carrying value of notes payable and sale leasebacks were determined to approximate fair value as each of the transactions were entered into at prevailing interest rates during each respective period and they have not materially changed as of or during the periods ended September 30, 2020 and December 31, 2019. The carrying value of the financing of beneficial interests in securitizations was determined to approximate fair value because in the event of a decline in the fair value of the pledged collateral of the financing, the repurchase price of the pledged collateral will be increased by the amount of the decline. The fair value of the Senior Notes, which are not carried at fair value on the accompanying unaudited condensed consolidated balance sheets, was determined using Level 2 inputs based on quoted market prices for the identical liability. The fair value of the Senior Notes as of September 30, 2020 and December 31, 2019 was as follows: September 30, 2020 December 31, 2019 (in thousands) Carrying value, net of unamortized debt issuance costs $ 592,944 $ 591,124 Fair value 619,389 625,114 The fair value of finance receivables, which are not carried at fair value on the accompanying unaudited condensed consolidated balance sheets, was determined utilizing the estimated sales price based on the historical experience of the Company. Such fair value measurement of the finance receivables, net is considered Level 2 under the fair value hierarchy. The carrying value and fair value of the finance receivables as of September 30, 2020 and December 31, 2019 were as follows: September 30, 2020 December 31, 2019 (in thousands) Carrying value $ 316,972 $ 286,969 Fair value 342,973 304,532 Derivative Instruments As of September 30, 2020 and December 31, 2019, the Company had no outstanding derivative instruments.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	NOTE 18 — SUPPLEMENTAL CASH FLOW INFORMATION The following table summarizes supplemental cash flow information for the nine months ended September 30, 2020 and 2019: Nine Months Ended September 30, 2020 2019 (in thousands) Supplemental cash flow information: Cash payments for interest, including $666 and $703, respectively, to related parties $ 55,300 $ 36,930 Non-cash investing and financing activities: Capital expenditures included in accounts payable and accrued liabilities $ 34,161 $ 14,983 Property and equipment acquired under finance leases $ 36,860 $ 24,253 Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 51,934 $ 27,059 Equity-based compensation expense capitalized to property and equipment $ 4,001 $ 1,731 Fair value of beneficial interests received in securitization transactions $ 39,578 $ 80,072 Reductions of beneficial interests in securitizations and associated long-term debt $ 21,463 $ 1,444 Debt issuance costs included in accounts payable and accrued liabilities $ 2,188 $ — The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying unaudited condensed consolidated balance sheets that sum to the total of the same amounts shown in the accompanying unaudited condensed consolidated statements of cash flows for all periods presented: September 30, 2020 December 31, 2019 September 30, 2019 December 31, 2018 (in thousands) Cash and cash equivalents $ 173,704 $ 76,016 $ 94,943 $ 78,861 Restricted cash (1) 22,619 42,443 13,531 9,848 Total cash, cash equivalents and restricted cash $ 196,323 $ 118,459 $ 108,474 $ 88,709

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 19 — SUBSEQUENT EVENTS Issuance and Redemption of Senior Unsecured Notes On October 2, 2020, the Company issued $500.0 million in aggregate principal amount of 5.625% senior unsecured notes due October 1, 2025 (the "2025 Notes") and $600.0 million aggregate principal amount of 5.875% senior unsecured notes due October 1, 2028 (the "2028 Notes" and, collectively, the "Notes"). The interest on the Notes is payable semi-annually on April 1 and October 1 of each year, beginning on April 1, 2021. The Company used approximately $626.8 million of the proceeds from issuance to redeem in full the $600.0 million aggregate principal amount of its Senior Notes due 2023. Floor Plan Facility Amendment Effective October 1, 2020, the Company amended its Floor Plan Facility to increase the line of credit to $1.25 billion, reduce the interest rate to one-month LIBOR plus 3.15% irrespective of the outstanding balance, and extend the maturity date to March 31, 2023. Upon entering into the agreement on September 29, 2020, the Company paid a commitment fee. The Company will be required to pay the lender an availability fee based on the average unused capacity during the prior calendar quarter.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information. All intercompany balances and transactions have been eliminated. Certain information and footnote disclosures normally included in annual financial statements have been condensed or omitted. The Company believes the disclosures made are adequate to prevent the information presented from being misleading. However, the accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included within the Company's most recent Annual Report on Form 10-K.
Use of Estimates	Use of EstimatesThe preparation of these unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions. Certain accounting estimates involve significant judgments, assumptions and estimates by management that have a material impact on the carrying value of certain assets and liabilities, disclosures of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period, which management considers to be critical accounting estimates. The judgments, assumptions and estimates used by management are based on historical experience, management’s experience, and other factors, which are believed to be reasonable under the circumstances. The COVID-19 pandemic has adversely impacted the global economy, as well as the Company's operations, and the extent and duration of the impacts remain unclear. Certain of the Company’s estimates, including, but not limited to, the Company’s allowance for loan losses, inventory valuations, fair value measurements, cancellation reserves, asset impairment charges, and discount rate assumptions, have been and may continue to be impacted and evolve as conditions change as a result of the COVID-19 pandemic. Because of the nature of the judgments and assumptions made by management, actual results could differ materially from these judgments and estimates, which could have a material impact on the carrying values of the Company’s assets and liabilities and the results of operations.
Adoption of New Accounting Standards and Accounting Standards Issued But Not Yet Adopted	Adoption of New Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-13, Financial instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"), which amends the guidance on the impairment of financial instruments by requiring measurement and recognition of expected credit losses for financial assets held. The Company adopted ASU 2016-13 on January 1, 2020. Financial assets measured at fair value through net income are excluded from the scope of ASU 2016-13. The Company's beneficial interests in securitizations are carried at fair value and are thus excluded from ASU 2016-13. Finance receivables originated in connection with the Company’s vehicle sales are held for sale and presented at the lower of amortized cost or fair value. The Company intends to sell the finance receivables prior to their contractual maturity, therefore the recovery of the asset is from its sale rather than maturity and the Company is not required to measure the expected lifetime credit losses. The adoption of ASU 2016-13 did not have a material effect on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13") related to updated requirements over the disclosures of fair value measurements. Under ASU 2018-13, certain disclosure requirements for fair value measurements will be eliminated, modified or added to facilitate better communication around recurring and nonrecurring fair value measurements. ASU 2018-13 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019, with some amendments applied prospectively, some applied retrospectively and early adoption permitted. The Company adopted ASU 2018-13 for its fiscal year beginning January 1, 2020 and it did not have a material effect on the Company's fair value disclosures within its consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ("ASU 2018-15"). The intent of this pronouncement is to align the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software as defined in ASC 350-40. Under ASU 2018-15, the capitalized implementation costs related to a cloud computing arrangement will be amortized over the term of the arrangement and all capitalized implementation amounts will be required to be presented in the same line items of the financial statements as the related hosting fees. ASU 2018-15 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. The Company adopted ASU 2018-15 for its fiscal year beginning January 1, 2020 and it did not have a material effect on its consolidated financial statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities ("ASU 2018-17"). ASU 2018-17 requires reporting entities to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety for determining whether a decision-making fee is a variable interest. The standard is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. Entities are required to apply the amendments in ASU 2018-17 retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. The Company adopted ASU 2018-15 for its fiscal year beginning January 1, 2020 and it did not have an effect on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). ASU 2020-04 provides optional guidance for a limited period of time related to contract modifications and hedge accounting to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The standard is effective from March 12, 2020 through December 31, 2022, except for hedging relationships existing as of December 31, 2022 that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The Company may elect to take advantage of this optional guidance in its transition away from LIBOR within certain debt contracts but does not expect a material impact on its consolidated financial statements. As of September 30, 2020, the Company had not modified any contracts or had any hedge accounting activity in which it utilized the optional guidance under ASU 2020-04. Accounting Standards Issued But Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 will be effective for interim and annual periods beginning after December 15, 2020, with early adoption permitted. The Company plans to adopt ASU 2019-12 for its fiscal year beginning January 1, 2021 and is currently assessing the impact, if any, the guidance will have on its consolidated financial statements.
Loss Per Share	Basic and diluted net loss per share is computed by dividing the net loss attributable to Class A common stockholders by the weighted-average shares of Class A common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potentially dilutive shares. For all periods presented, potentially dilutive shares are excluded from diluted net loss per share because they have an anti-dilutive impact. Therefore, basic and diluted net loss per share attributable to Class A common stockholders are the same for all periods presented.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	The following table summarizes property and equipment, net as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (in thousands) Land and site improvements $ 130,890 $ 98,530 Buildings and improvements 346,651 229,640 Transportation fleet 148,270 110,302 Software 99,151 66,875 Furniture, fixtures and equipment 56,819 38,123 Total property and equipment excluding construction in progress 781,781 543,470 Less: accumulated depreciation and amortization on property and equipment (146,241) (88,795) Property and equipment excluding construction in progress, net 635,540 454,675 Construction in progress 164,641 88,796 Property and equipment, net $ 800,181 $ 543,471

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of Intangible Assets and Goodwill	The following table summarizes intangible assets and goodwill related to the Car360 acquisition as of September 30, 2020 and December 31, 2019: Useful Life September 30, 2020 December 31, 2019 (in thousands) Intangible assets: Developed technology 7 years $ 8,642 $ 8,642 Customer relationships 2 years — 523 Non-compete agreements 5 years 774 774 Intangible assets, acquired cost 9,416 9,939 Less: accumulated amortization (3,426) (2,707) Intangible assets, net $ 5,990 $ 7,232 Goodwill N/A $ 9,353 $ 9,353
Schedule of Anticipated Future Annual Amortization Expense	The anticipated annual amortization expense to be recognized in future years as of September 30, 2020 is as follows: Expected Future Amortization (in thousands) Remainder of 2020 $ 347 2021 1,389 2022 1,389 2023 1,279 2024 1,235 2025 351 Thereafter — Total $ 5,990

Accounts Payable and Other Ac_2

Accounts Payable and Other Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Summary of Accounts Payable and Other Accrued Liabilities	The following table summarizes accounts payable and other accrued liabilities as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (in thousands) Accounts payable, including $12,845 and $9,549, respectively, due to related parties $ 96,477 $ 63,576 Sales taxes and vehicle licenses and fees 65,671 45,812 Accrued compensation and benefits 31,268 21,726 Accrued property and equipment 30,439 23,433 Accrued interest expense 30,167 15,650 Reserve for returns and cancellations 27,197 19,721 Customer deposits 17,541 6,379 Accrued advertising costs 15,426 11,403 Other accrued liabilities 41,690 26,743 Total accounts payable and accrued liabilities $ 355,876 $ 234,443

Securitizations and Variable _2

Securitizations and Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities Total Exposure	The following table summarizes the carrying value and total exposure to losses of its assets related to unconsolidated VIEs with which the Company has continuing involvement, but is not the primary beneficiary at September 30, 2020 and December 31, 2019. Total exposure represents the estimated loss the Company would incur under severe, hypothetical circumstances, such as if the value of the interests in the securitization trusts and any associated collateral declined to zero. The Company believes the possibility of this is remote. As such, the total exposure presented below is not an indication of the Company's expected losses. September 30, 2020 December 31, 2019 Carrying Value Total Exposure Carrying Value Total Exposure (in thousands) Rated notes $ 83,089 $ 83,089 $ 85,234 $ 85,234 Certificates and other assets 29,045 29,045 13,546 13,546 Total unconsolidated VIEs $ 112,134 $ 112,134 $ 98,780 $ 98,780 September 30, 2020 December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value (in thousands) Rated notes $ 83,868 $ 83,089 $ 84,983 $ 85,234 Certificates and other assets 25,276 29,045 13,456 13,546 Total securities available for sale $ 109,144 $ 112,134 $ 98,439 $ 98,780
Schedule of Variable Interest Entities Amortized Cost and Fair Value of Securities Available for Sale	The following table summarizes the carrying value and total exposure to losses of its assets related to unconsolidated VIEs with which the Company has continuing involvement, but is not the primary beneficiary at September 30, 2020 and December 31, 2019. Total exposure represents the estimated loss the Company would incur under severe, hypothetical circumstances, such as if the value of the interests in the securitization trusts and any associated collateral declined to zero. The Company believes the possibility of this is remote. As such, the total exposure presented below is not an indication of the Company's expected losses. September 30, 2020 December 31, 2019 Carrying Value Total Exposure Carrying Value Total Exposure (in thousands) Rated notes $ 83,089 $ 83,089 $ 85,234 $ 85,234 Certificates and other assets 29,045 29,045 13,546 13,546 Total unconsolidated VIEs $ 112,134 $ 112,134 $ 98,780 $ 98,780 September 30, 2020 December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value (in thousands) Rated notes $ 83,868 $ 83,089 $ 84,983 $ 85,234 Certificates and other assets 25,276 29,045 13,456 13,546 Total securities available for sale $ 109,144 $ 112,134 $ 98,439 $ 98,780

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2020
Noncontrolling Interest [Abstract]
Summary of Effects of Changes in Ownership in Carvana Group on Equity	Nine Months Ended September 30, 2020 2019 (in thousands) Transfers (to) from non-controlling interests: Decrease as a result of issuances of Class A common stock $ (643,886) $ (201,015) Increase as a result of exchanges of LLC Units 6,845 4,666 Total transfers to non-controlling interests $ (637,041) $ (196,349)

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Equity-Based Compensation Expense	A summary of equity-based compensation expense recognized during the three and nine months ended September 30, 2020 and 2019 is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Class B Units $ 256 $ 648 $ 973 $ 1,804 Restricted Stock Units and Awards excluding those granted in relation to the 100k Milestone Gift 4,887 3,513 14,656 9,194 Restricted Stock Units granted in relation to the 100k Milestone Gift — 4,446 — 10,379 Options 1,777 1,369 5,193 4,033 Class A Units 337 497 1,190 1,687 Total equity-based compensation 7,257 10,473 22,012 27,097 Equity-based compensation capitalized to property and equipment (1,406) (852) (4,001) (1,731) Equity-based compensation capitalized to inventory (90) (1,824) (188) (3,659) Equity-based compensation, net of capitalized amounts $ 5,761 $ 7,797 $ 17,823 $ 21,707

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Summary of the Calculation of Basic and Diluted Net Loss Per Share	The following table presents the calculation of basic and diluted net loss per share during the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands, except per share data) Numerator: Net loss $ (17,720) $ (92,244) $ (307,603) $ (238,899) Net loss attributable to non-controlling interests 10,635 62,156 199,801 165,373 Net loss attributable to Carvana Co. Class A common stockholders, basic and diluted $ (7,085) $ (30,088) $ (107,802) $ (73,526) Denominator: Weighted-average shares of Class A common stock outstanding 70,064 50,003 62,350 45,973 Nonvested weighted-average restricted stock awards (59) (216) (106) (247) Weighted-average shares of Class A common stock to compute basic and diluted net loss per Class A common share 70,005 49,787 62,244 45,726 Net loss per share of Class A common stock, basic and diluted $ (0.10) $ (0.60) $ (1.73) $ (1.61)

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of Lease Cost and Activity	The Company's lease costs and activity during the three and nine months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Lease costs: Finance leases: Amortization of finance lease assets $ 4,239 $ 2,222 $ 11,685 $ 5,477 Interest obligations under finance leases 911 547 2,604 1,392 Total finance lease costs $ 5,150 $ 2,769 $ 14,289 $ 6,869 Operating leases: Fixed lease costs to non-related parties $ 7,325 $ 3,487 $ 20,330 $ 8,759 Fixed lease costs to related parties 1,959 1,849 6,086 5,577 Variable short-term lease costs to related parties 1,002 390 1,397 1,177 Total operating lease costs $ 10,286 $ 5,726 $ 27,813 $ 15,513 Cash payments related to lease liabilities included in operating cash flows: Operating lease liabilities to non-related parties $ 12,264 $ 6,147 Operating lease liabilities to related parties $ 5,876 $ 6,333 Interest payments on finance lease liabilities $ 2,604 $ 1,392 Cash payments related to lease liabilities included in financing cash flows: Principal payments on finance lease liabilities $ 12,860 $ 5,581
Schedule of Finance Lease, Maturity, After Adopting 842	The following table summarizes maturities of lease liabilities as of September 30, 2020: Operating Leases (1) Finance Leases Related Party (2) Non-Related Party Total Operating Total (in thousands) Remainder of 2020 $ 5,799 $ 1,361 $ 4,115 $ 5,476 $ 11,275 2021 21,395 5,236 19,115 24,351 45,746 2022 20,320 5,225 17,583 22,808 43,128 2023 19,119 5,233 15,402 20,635 39,754 2024 11,801 3,968 13,517 17,485 29,286 Thereafter 5,416 8,501 146,368 154,869 160,285 Total minimum lease payments 83,850 29,524 216,100 245,624 329,474 Less: amount representing interest (8,409) (6,599) (87,399) (93,998) (102,407) Total lease liabilities $ 75,441 $ 22,925 $ 128,701 $ 151,626 $ 227,067 (1) Leases that are on a month-to-month basis, short-term leases, and lease extensions that the Company does not expect to exercise are not included. (2) Related party lease payments exclude rent payments due under the DriveTime Lease Agreement and the DriveTime Hub Lease Agreement for locations where the Company shares space with DriveTime, as those are variable lease payments contingent upon the Company's utilization of the leased assets.
Schedule of Operating Lease, Maturity, After Adopting 842	The following table summarizes maturities of lease liabilities as of September 30, 2020: Operating Leases (1) Finance Leases Related Party (2) Non-Related Party Total Operating Total (in thousands) Remainder of 2020 $ 5,799 $ 1,361 $ 4,115 $ 5,476 $ 11,275 2021 21,395 5,236 19,115 24,351 45,746 2022 20,320 5,225 17,583 22,808 43,128 2023 19,119 5,233 15,402 20,635 39,754 2024 11,801 3,968 13,517 17,485 29,286 Thereafter 5,416 8,501 146,368 154,869 160,285 Total minimum lease payments 83,850 29,524 216,100 245,624 329,474 Less: amount representing interest (8,409) (6,599) (87,399) (93,998) (102,407) Total lease liabilities $ 75,441 $ 22,925 $ 128,701 $ 151,626 $ 227,067 (1) Leases that are on a month-to-month basis, short-term leases, and lease extensions that the Company does not expect to exercise are not included. (2) Related party lease payments exclude rent payments due under the DriveTime Lease Agreement and the DriveTime Hub Lease Agreement for locations where the Company shares space with DriveTime, as those are variable lease payments contingent upon the Company's utilization of the leased assets.
Schedule of Weighted-Average Remaining Lease Terms and Discount Rates	The weighted-average remaining lease terms and discount rates as of September 30, 2020 and 2019 were as follows, excluding short-term operating leases: September 30, 2020 2019 Weighted-average remaining lease terms (years) Operating leases 10.6 10.4 Finance leases 4.3 4.5 Weighted-average discount rate Operating leases 8.3 % 8.7 % Finance leases 5.3 % 5.5 %

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Fair Value Measurements and Hierarchy Level	The following tables are a summary of fair value measurements and hierarchy level at September 30, 2020 and December 31, 2019: As of September 30, 2020: Carrying Value Level 1 Level 2 Level 3 (in thousands) Assets: Money market funds (1) $ 148,406 $ 148,406 $ — $ — Beneficial interests in securitizations 112,134 — — 112,134 As of December 31, 2019: Carrying Value Level 1 Level 2 Level 3 (in thousands) Assets: Money market funds (1) $ 56,435 $ 56,435 $ — $ — Beneficial interests in securitizations 98,780 — 29,222 69,558 _________________________ (1) Consists of highly liquid investments with original maturities of three months or less and classified in cash and cash equivalents in the accompanying unaudited condensed consolidated balance sheets. September 30, 2020 December 31, 2019 (in thousands) Carrying value $ 316,972 $ 286,969 Fair value 342,973 304,532
Scheduled of Additional Information of Beneficial Interests in Securitizations	The following table presents additional information about Level 3 beneficial interests in securitizations measured at fair value on a recurring basis for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Opening Balance $ 116,563 $ 18,600 $ 69,558 $ — Transfers into Level 3 — 26,592 29,222 46,123 Received in securitization transactions — — 39,578 — Cash receipts (11,838) (2,913) (30,245) (4,021) Change in fair value 7,409 (396) 4,021 (219) Ending Balance $ 112,134 $ 41,883 $ 112,134 $ 41,883
Schedule of Fair Value Senior Notes	The fair value of the Senior Notes as of September 30, 2020 and December 31, 2019 was as follows: September 30, 2020 December 31, 2019 (in thousands) Carrying value, net of unamortized debt issuance costs $ 592,944 $ 591,124 Fair value 619,389 625,114
Schedule of Carrying Value and Fair Value of Finance Receivables	The following tables are a summary of fair value measurements and hierarchy level at September 30, 2020 and December 31, 2019: As of September 30, 2020: Carrying Value Level 1 Level 2 Level 3 (in thousands) Assets: Money market funds (1) $ 148,406 $ 148,406 $ — $ — Beneficial interests in securitizations 112,134 — — 112,134 As of December 31, 2019: Carrying Value Level 1 Level 2 Level 3 (in thousands) Assets: Money market funds (1) $ 56,435 $ 56,435 $ — $ — Beneficial interests in securitizations 98,780 — 29,222 69,558 _________________________ (1) Consists of highly liquid investments with original maturities of three months or less and classified in cash and cash equivalents in the accompanying unaudited condensed consolidated balance sheets. September 30, 2020 December 31, 2019 (in thousands) Carrying value $ 316,972 $ 286,969 Fair value 342,973 304,532

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Summary of Supplemental Cash Flow Information	The following table summarizes supplemental cash flow information for the nine months ended September 30, 2020 and 2019: Nine Months Ended September 30, 2020 2019 (in thousands) Supplemental cash flow information: Cash payments for interest, including $666 and $703, respectively, to related parties $ 55,300 $ 36,930 Non-cash investing and financing activities: Capital expenditures included in accounts payable and accrued liabilities $ 34,161 $ 14,983 Property and equipment acquired under finance leases $ 36,860 $ 24,253 Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 51,934 $ 27,059 Equity-based compensation expense capitalized to property and equipment $ 4,001 $ 1,731 Fair value of beneficial interests received in securitization transactions $ 39,578 $ 80,072 Reductions of beneficial interests in securitizations and associated long-term debt $ 21,463 $ 1,444 Debt issuance costs included in accounts payable and accrued liabilities $ 2,188 $ —
Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying unaudited condensed consolidated balance sheets that sum to the total of the same amounts shown in the accompanying unaudited condensed consolidated statements of cash flows for all periods presented: September 30, 2020 December 31, 2019 September 30, 2019 December 31, 2018 (in thousands) Cash and cash equivalents $ 173,704 $ 76,016 $ 94,943 $ 78,861 Restricted cash (1) 22,619 42,443 13,531 9,848 Total cash, cash equivalents and restricted cash $ 196,323 $ 118,459 $ 108,474 $ 88,709

Business Organization - Narrati

Business Organization - Narrative (Details)	9 Months Ended
	Sep. 30, 2020class
Subsidiary, Sale of Stock [Line Items]
Number of classes of common ownership interests	2
Carvana Group
Subsidiary, Sale of Stock [Line Items]
Ownership percentage by Carvana Co.	40.40%
Ownership percentage by LLC Unitholders	59.60%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Liquidity (Details) - USD ($) shares in Millions	Oct. 02, 2020	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Oct. 01, 2020	Sep. 21, 2018
Debt Instrument [Line Items]
Stock sold during period, net proceeds		$ 1,058,940,000	$ 297,611,000
Floor Plan Facility | Subsequent Event | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 1,250,000,000
Senior Unsecured Notes Effective September 2018 | Senior Notes
Debt Instrument [Line Items]
Debt issued, aggregate principal amount						$ 350,000,000
Senior Unsecured Notes Effective September 2018 | Subsequent Event | Senior Notes
Debt Instrument [Line Items]
Debt issued, aggregate principal amount	$ 1,100,000,000
Repayment of debt	$ 626,800,000
MPSA | Consumer Loan
Debt Instrument [Line Items]
Commitment of purchaser, current availability financing, principal balances of finance receivables (up to)				$ 3,000,000,000
Equity Offering
Debt Instrument [Line Items]
Stock sold during period, net proceeds				$ 1,100,000,000
Class A Common Stock | Equity Offering
Debt Instrument [Line Items]
Sale of stock, number of shares issued in transaction (in shares)				18.3

Property and Equipment, Net - S

Property and Equipment, Net - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization on property and equipment	$ (146,241)	$ (88,795)
Property and equipment, net	800,181	543,471
Land and site improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	130,890	98,530
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	346,651	229,640
Transportation fleet
Property, Plant and Equipment [Line Items]
Total property and equipment	148,270	110,302
Software
Property, Plant and Equipment [Line Items]
Total property and equipment	99,151	66,875
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	56,819	38,123
Property and equipment excluding construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	781,781	543,470
Property and equipment, net	635,540	454,675
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 164,641	$ 88,796

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense			$ 52,076	$ 27,505
Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 18,400	$ 10,300	$ 50,900	$ 26,300

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($) $ in Thousands, shares in Millions	Apr. 12, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 9,353		$ 9,353		$ 9,353
Car360
Business Acquisition [Line Items]
Payments to acquire business, net of cash acquired	$ 16,700
Cash acquired	400
Cash payment to acquire businesses, net	6,700
Fair value, equity interested issued	10,000
Acquired net working capital	200
Fair value, intangible assets	9,900
Deferred tax liability	2,500
Deferred tax liability, amortization expense		100	$ 0	300	$ 400
Goodwill	$ 9,400	9,353		9,353		$ 9,353
Amortization expense		$ 300	$ 400	$ 1,200	$ 1,200
Weighted average amortization period, definite-lived intangible assets				4 years 4 months 24 days
Car360 | Minimum
Business Acquisition [Line Items]
Deferred tax liability, amortization period	2 years			2 years
Car360 | Maximum
Business Acquisition [Line Items]
Deferred tax liability, amortization period	7 years			7 years
Car360 | Class A Units
Business Acquisition [Line Items]
Number of shares issued to former stockholders (in shares)	0.5

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Summary of Fair Value of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Apr. 12, 2018
Intangible assets:
Total	$ 5,990	$ 7,232
Goodwill	9,353	9,353
Car360
Intangible assets:
Intangible assets, acquired cost	9,416	9,939
Less: accumulated amortization	(3,426)	(2,707)
Total	5,990	7,232
Goodwill	$ 9,353	9,353	$ 9,400
Car360 | Developed technology
Intangible assets:
Useful Life	7 years
Intangible assets, acquired cost	$ 8,642	8,642
Car360 | Customer relationships
Intangible assets:
Useful Life	2 years
Intangible assets, acquired cost	$ 0	523
Car360 | Non-compete agreements
Intangible assets:
Useful Life	5 years
Intangible assets, acquired cost	$ 774	$ 774

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Business Combinations [Abstract]
Remainder of 2020	$ 347
2021	1,389
2022	1,389
2023	1,279
2024	1,235
2025	351
Thereafter	0
Total	$ 5,990	$ 7,232

Accounts Payable and Other Ac_3

Accounts Payable and Other Accrued Liabilities - Summary of Accounts Payable and Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Payables And Accruals [Line Items]
Accounts payable, including $12,845 and $9,549, respectively, due to related parties	$ 96,477	$ 63,576
Sales taxes and vehicle licenses and fees	65,671	45,812
Accrued compensation and benefits	31,268	21,726
Accrued property and equipment	30,439	23,433
Accrued interest expense	30,167	15,650
Reserve for returns and cancellations	27,197	19,721
Customer deposits	17,541	6,379
Accrued advertising costs	15,426	11,403
Other accrued liabilities	41,690	26,743
Total accounts payable and accrued liabilities	355,876	234,443
Related Party
Payables And Accruals [Line Items]
Accounts payable, including $12,845 and $9,549, respectively, due to related parties	12,845	9,549
Total accounts payable and accrued liabilities	$ 12,845	$ 9,549

Related Party Transactions - Le

Related Party Transactions - Lease Agreements (Details) $ in Thousands	1 Months Ended							3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Feb. 28, 2019renewal_option	Nov. 30, 2018renewal_option	Mar. 31, 2017renewal_optionlocation	Feb. 28, 2017renewal_option	Dec. 31, 2016renewal_option	Nov. 30, 2014renewal_optionlocation	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)renewal_option	Sep. 30, 2019USD ($)
Related Party Transaction [Line Items]
Operating lease, number of renewal options | renewal_option										1
Purchase of certain leasehold improvements and equipment | $										$ 270,486	$ 151,380
Related Party
Related Party Transaction [Line Items]
Purchase of certain leasehold improvements and equipment | $									$ 2,000		6,300
Related Party | DriveTime Automotive Group, Inc. | Related Party Lease Agreements | Building
Related Party Transaction [Line Items]
Operating lease, cancellation terms, number of days prior written notice							60 days
Operating lease, number of renewal options | renewal_option				2			2
Operating leases, renewal term				1 year			1 year
Renewal options, number of locations | location				10			10
Termination rights, prior written notice period				60 days
Operating lease term				12 months
Related Party | DriveTime Automotive Group, Inc. | Related Party Lease Agreements | Building | Cleveland, Ohio
Related Party Transaction [Line Items]
Operating lease, number of renewal options | renewal_option			3
Operating leases, renewal term			5 years
Related Party | DriveTime Automotive Group, Inc. | Lease Agreement for Fully-Operational Inspection and Reconditioning Center | Building | Winder, Georgia
Related Party Transaction [Line Items]
Operating lease, number of renewal options | renewal_option					3
Operating leases, renewal term					5 years
Operating lease term					8 years
Related Party | DriveTime Automotive Group, Inc. | Lease Agreement for Fully-Operational Inspection and Reconditioning Center | Building | Cleveland, Ohio
Related Party Transaction [Line Items]
Operating lease term			3 years
Related Party | DriveTime Automotive Group, Inc. | Lease Agreement for Inspection and Reconditioning Center | Leasehold Improvements and Equipment | Nashville, Tennessee
Related Party Transaction [Line Items]
Operating lease, number of renewal options | renewal_option		3
Operating leases, renewal term		5 years
Operating lease term		4 years
Related Party | Verde Investments, Inc. | Lease Agreement Related to Vehicle Inspection and Reconditioning Center | Building | Tolleson, Arizona
Related Party Transaction [Line Items]
Operating lease, number of renewal options | renewal_option						4
Operating leases, renewal term						5 years
Operating lease term						15 years
Purchase of certain leasehold improvements and equipment | $	$ 21,700
Related Party | Verde Investments, Inc. and DriveTime Automotive Group Inc. | Related Party Lease Agreements
Related Party Transaction [Line Items]
Expenses from transactions with related party | $								$ 2,400	2,000	6,000	6,000
Related Party | Verde Investments, Inc. and DriveTime Automotive Group Inc. | Related Party Lease Agreements | Cost of Sales
Related Party Transaction [Line Items]
Expenses from transactions with related party | $								800	800	2,400	2,500
Related Party | Verde Investments, Inc. and DriveTime Automotive Group Inc. | Related Party Lease Agreements | Selling, general and administrative
Related Party Transaction [Line Items]
Expenses from transactions with related party | $								$ 1,600	$ 1,200	$ 3,600	$ 3,500

Related Party Transactions - Co

Related Party Transactions - Corporate Office Leases (Details)	1 Months Ended		3 Months Ended		9 Months Ended
	Dec. 31, 2019renewal_option	Sep. 30, 2016USD ($)renewal_option	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)renewal_option	Sep. 30, 2019USD ($)
Related Party Transaction [Line Items]
Operating lease, number of renewal options | renewal_option					1
Related Party | DriveTime Automotive Group, Inc. | Corporate Headquarters, Office Lease
Related Party Transaction [Line Items]
Guarantor obligations, maximum exposure (up to) | $		$ 500,000
Related Party | DriveTime Automotive Group, Inc. | Corporate Headquarters, Office Lease and Subleased Office Space, First Floor
Related Party Transaction [Line Items]
Operating lease term		83 months
Operating lease, number of renewal options | renewal_option		3
Operating leases, renewal term		5 years
Related Party | DriveTime Automotive Group, Inc. | Subleased Office Space, First Floor
Related Party Transaction [Line Items]
Expenses from transactions with related party | $			$ 200,000	$ 200,000	$ 700,000	$ 700,000
Related Party | Verde Investments, Inc. | Office Building Lease | Tempe, Arizona
Related Party Transaction [Line Items]
Operating lease term	10 years
Operating lease, number of renewal options | renewal_option	2
Operating leases, renewal term	5 years
Expenses from transactions with related party | $			$ 200,000		$ 600,000

Related Party Transactions - Wh

Related Party Transactions - Wholesale Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Related Party Transaction [Line Items]
Sales and revenues, from related parties	$ 1,543,609	$ 1,094,854	$ 3,760,159	$ 2,836,309
Wholesale vehicle sales
Related Party Transaction [Line Items]
Sales and revenues, from related parties	129,925	$ 92,430	258,965	$ 188,474
Wholesale vehicle sales | DriveTime Automotive Group, Inc. | Related Party
Related Party Transaction [Line Items]
Sales and revenues, from related parties	$ 1,300		$ 1,400

Related Party Transactions - Ma

Related Party Transactions - Master Dealer Agreement (Details) - DriveTime Automotive Group, Inc. - Related Party - Master Dealer Agreement - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Related Party Transaction [Line Items]
Revenue from related parties	$ 22.3	$ 15	$ 59.9	$ 38.2
Revenue related to excess cash reserves on contracts	3.8	0.8	9.5	2.2
Expenses related to administration of GAP waiver coverage	$ 1.6	$ 1.2	$ 4.1	$ 3.1

Related Party Transactions - GA

Related Party Transactions - GAP Waiver Insurance Policy (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Other assets, due from related parties	$ 28,513		$ 28,513		$ 14,850
Related Party | BlueShore
Related Party Transaction [Line Items]
Payments to acquire GAP waiver insurance policy	0	$ 100	0	$ 1,700
Other assets, due from related parties	$ 100		$ 100		$ 200

Related Party Transactions - Se

Related Party Transactions - Servicing and Administrative Fees (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
DriveTime Automotive Group, Inc. | Servicing and Administrative Fees | Related Party
Related Party Transaction [Line Items]
Expenses from transactions with related party	$ 1.7	$ 1.7	$ 4.3	$ 2.7

Related Party Transactions - Ai

Related Party Transactions - Aircraft Time Sharing Agreement (Details) - Related Party - DriveTime Automotive Group, Inc. - Aircraft Time Sharing Agreement - Air Transportation Equipment $ in Millions	Oct. 22, 2015aircraft	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2017aircraft
Related Party Transaction [Line Items]
Contractual agreement term	12 months
Contractual agreement, perpetual automatic renewal	12 months
Number of allowable days prior to contract termination with written notice	30 days
Expenses from transactions with related party | $		$ 0.1	$ 0.1	$ 0.2	$ 0.4
Verde Investments, Inc.
Related Party Transaction [Line Items]
Number of aircrafts | aircraft	2					2

Related Party Transactions - _2

Related Party Transactions - Senior Notes Held by Verde (Details) - Senior Unsecured Notes Effective September 2018 - Senior Notes - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Long-term debt	$ 592.9	$ 591.1
Related Party | Verde Investments, Inc.
Related Party Transaction [Line Items]
Long-term debt	$ 15	$ 15

Related Party Transactions - Ac

Related Party Transactions - Accounts Payable Due to Related Party (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Related Party
Related Party Transaction [Line Items]
Due to related parties	$ 12.8	$ 9.5

Related Party Transactions - _3

Related Party Transactions - Contribution Agreement (Details) - Restricted Stock Units - Chief Executive Officer - Contribution Agreement	Sep. 10, 2018USD ($)shares
Related Party Transaction [Line Items]
Contribution of Class A common stock from related party, fee charged | $	$ 0
Stock contribution commitment, shares per employee (in shares) | shares	165

Finance Receivable Sale Agree_2

Finance Receivable Sale Agreements - Narrative (Details)	May 07, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)agreementType	Sep. 30, 2019USD ($)	May 31, 2019USD ($)
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Number of agreement types | agreementType				2
Amended and Restated Loan And Security Agreement | Revolving Credit Facility | SART 2017-1 Credit Facility | Ally Bank
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Line of credit facility, maximum borrowing capacity (up to)	$ 350,000,000					$ 350,000,000
Consumer Loan
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Payments to acquire certificate of the trust, net of cash acquired	34,000,000
Payments for purchase of finance receivables					$ 127,700,000
Consumer Loan | Debt and Other Liabilities
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Payments to acquire certificate of the trust, net of cash acquired	105,700,000
Consumer Loan | Financing Receivable
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Payments to acquire certificate of the trust, net of cash acquired	$ 139,700,000
Consumer Loan | MPSA
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Commitment of purchaser, current availability financing, principal balances of finance receivables (up to)		$ 3,000,000,000		$ 3,000,000,000
Principal balances of finance receivables through securitization transactions, sold		1,800,000,000	$ 300,000,000	1,800,000,000	300,000,000
Receivable purchase agreement, remaining unused capacity		1,500,000,000		1,500,000,000
Consumer Loan | Master Transfer Agreement
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Principal balances of finance receivables through securitization transactions, sold			139,300,000		139,300,000
Consumer Loan | Master Purchase Sale Agreement, 2017 Master Transfer Agreement and Other Partners
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Gain on loan sales		76,800,000	39,800,000	129,000,000	99,400,000
Securitization Transaction
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Principal balances of finance receivables through securitization transactions, sold		$ 494,800,000	$ 1,400,000,000	$ 494,800,000	$ 1,400,000,000

Securitizations and Variable _3

Securitizations and Variable Interest Entities - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Beneficial interests in securitizations	$ 112,134	$ 98,780
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Beneficial interests in securitizations	$ 112,134	$ 98,780

Securitizations and Variable _4

Securitizations and Variable Interest Entities - Schedule of Expected Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Carrying Value	$ 112,134	$ 98,780
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Carrying Value	112,134	98,780
Total Exposure	112,134	98,780
Rated notes | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Carrying Value	83,089	85,234
Total Exposure	83,089	85,234
Certificates and other assets | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Carrying Value	29,045	13,546
Total Exposure	$ 29,045	$ 13,546

Securitizations and Variable _5

Securitizations and Variable Interest Entities - Schedule of Cost and Fair Value of Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Fair Value	$ 112,134	$ 98,780
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Amortized Cost	109,144	98,439
Fair Value	112,134	98,780
Rated notes | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Amortized Cost	83,868	84,983
Fair Value	83,089	85,234
Certificates and other assets | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Amortized Cost	25,276	13,456
Fair Value	$ 29,045	$ 13,546

Debt Instruments - Floor Plan F

Debt Instruments - Floor Plan Facility (Details) - USD ($)	Oct. 01, 2020	Nov. 30, 2019	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Line of Credit Facility [Line Items]
Line of credit, outstanding			$ 126,981,000	$ 568,840,000
Held in restricted cash			$ 22,619,000	$ 42,443,000	$ 13,531,000	$ 9,848,000
Floor Plan Facility | Line of Credit
Line of Credit Facility [Line Items]
Outstanding balance, days held in inventory threshold		180 days
Outstanding balance, held in inventory, percentage of original principal amount due		10.00%
Outstanding balance, held in inventory, original principal amount, threshold		50.00%
Outstanding balance, held in inventory, wholesale value, threshold		50.00%
Deposit required under floor plan facility, percentage of principal balance		7.50%
Interest rate			3.55%	4.91%
Line of credit, outstanding			$ 110,000,000	$ 515,500,000
Line of credit facility, remaining borrowing capacity			840,000,000	434,500,000
Held in restricted cash			$ 8,200,000	$ 38,700,000
Floor Plan Facility | Line of Credit | Subsequent Event
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,250,000,000
Floor Plan Facility | Line of Credit | LIBOR | Subsequent Event
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	3.15%

Debt Instruments - Active Finan

Debt Instruments - Active Finance Receivable Facilities (Details) - USD ($)	Oct. 28, 2020	Sep. 30, 2020	Feb. 29, 2020	Jan. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Line of credit, outstanding		$ 126,981,000			$ 568,840,000
Held in restricted cash		22,619,000			$ 42,443,000	$ 13,531,000	$ 9,848,000
Revolving Credit Facility | SPVANA I Credit Facility
Debt Instrument [Line Items]
Current commitment		425,000,000
Incremental amount can draw on credit facility, accordion feature				$ 25,000,000
Accordion feature, maximum amount				$ 500,000,000
Revolving Credit Facility | SPVANA I Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Current commitment	$ 500,000,000
Revolving Credit Facility | SPVANA II Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity (up to)			$ 500,000,000
Revolving Credit Facility | SPVANA Facilities
Debt Instrument [Line Items]
Line of credit, outstanding		17,000,000
Line of credit facility, remaining borrowing capacity		908,000,000
Held in restricted cash		$ 14,200,000
Interest rate		1.94%

Debt Instruments - Past Finance

Debt Instruments - Past Finance Receivable Facilities (Details) - USD ($)	1 Months Ended
	May 31, 2019	Apr. 30, 2019	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	May 07, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Short-term revolving facilities			$ 126,981,000	$ 568,840,000
Restricted cash			$ 22,619,000	$ 42,443,000	$ 13,531,000		$ 9,848,000
Revolving Credit Facility | DART I Credit Facility | Minimum
Debt Instrument [Line Items]
Interest rate				2.76%
Revolving Credit Facility | DART I Credit Facility | Maximum
Debt Instrument [Line Items]
Interest rate				3.71%
Revolving Credit Facility | Finance Receivable Facilities
Debt Instrument [Line Items]
Short-term revolving facilities				$ 53,400,000
Line of credit facility, remaining borrowing capacity				596,600,000
Restricted cash				$ 3,700,000
Loan and Security Agreement | Revolving Credit Facility | DART I Credit Facility | Ally Bank
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity (up to)		$ 300,000,000
Deposit required under floor plan facility, percentage of principal balance	2.00%
Loan and Security Agreement | Revolving Credit Facility | DART I Credit Facility | Ally Bank | Minimum | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.00%
Loan and Security Agreement | Revolving Credit Facility | DART I Credit Facility | Ally Bank | Maximum | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.80%
Amended and Restated Loan And Security Agreement | Revolving Credit Facility | SART 2017-1 Credit Facility | Ally Bank
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity (up to)	$ 350,000,000					$ 350,000,000
Deposit required under floor plan facility, percentage of principal balance	2.00%
Amended and Restated Loan And Security Agreement | Revolving Credit Facility | SART 2017-1 Credit Facility | Ally Bank | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.95%

Debt Instruments - Long-Term De

Debt Instruments - Long-Term Debt (Details)	Sep. 21, 2018USD ($)	Nov. 30, 2017USD ($)property	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)	May 24, 2019USD ($)
Debt Instrument [Line Items]
Notes payable, current portion			$ 54,313,000	$ 48,731,000
Sale and leaseback liability, net			75,441,000
Beneficial interests in securitization, pledged assets as collateral			2,732,798,000	2,057,748,000
Variable Interest Entity, Not Primary Beneficiary
Debt Instrument [Line Items]
Long-term debt			74,400,000	82,700,000
Long-term debt, current portion			22,800,000	26,400,000
Variable Interest Entity, Not Primary Beneficiary | Asset Pledged as Collateral
Debt Instrument [Line Items]
Beneficial interests in securitization, pledged assets as collateral			76,300,000	85,000,000
Master Sale-Leaseback Agreement
Debt Instrument [Line Items]
Sale leaseback transaction, number of properties sold and leased back at amount equal to the repurchase price (or more) | property		1
Sale leaseback transaction, maximum sales price of properties sold and leasing back		$ 75,000,000
Sale leaseback transaction, additional amount company may sell and lease back			75,000,000	75,000,000
Leased Properties and Construction Improvements
Debt Instrument [Line Items]
Sale and leaseback liability, net			$ 365,300,000	174,700,000
Minimum
Debt Instrument [Line Items]
Sale leaseback transaction, expiration period			20 years
Maximum
Debt Instrument [Line Items]
Sale leaseback transaction, expiration period			25 years
Sale leaseback transaction, renewal period (up to)			25 years
Senior Notes
Debt Instrument [Line Items]
Interest rate					8.875%
Senior Notes | Senior Unsecured Notes Effective September 2018
Debt Instrument [Line Items]
Face amount	$ 350,000,000
Long-term debt			$ 592,900,000	591,100,000
Senior Notes | Senior Unsecured Notes Effective September 2018 | Verde Investments, Inc. | Related Party
Debt Instrument [Line Items]
Long-term debt			$ 15,000,000	$ 15,000,000
Senior Notes | Senior Unsecured Notes Effective September 2018 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed	35.00%
Redemption price, percentage	108.875%
Senior Notes | Senior Unsecured Notes Effective September 2018 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, percentage	101.00%
Senior Notes | Senior Unsecured Notes Effective May 2019
Debt Instrument [Line Items]
Face amount					$ 250,000,000
Debt instrument, premium percent					100.50%
Notes Payable, Other Payables | Promissory Note
Debt Instrument [Line Items]
Weighted average interest rate			7.00%	6.60%
Notes payable			$ 27,200,000	$ 31,800,000
Notes payable, current portion			$ 13,200,000	$ 10,900,000
Notes Payable, Other Payables | Promissory Note | Minimum
Debt Instrument [Line Items]
Debt instrument, term			2 years
Notes Payable, Other Payables | Promissory Note | Maximum
Debt Instrument [Line Items]
Debt instrument, term			5 years

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details)	Dec. 05, 2017	May 03, 2017vote$ / sharesshares	May 02, 2017	Mar. 31, 2015	Sep. 30, 2020class$ / sharesshares	Dec. 31, 2018	Dec. 31, 2019$ / sharesshares
Limited Partners' Capital Account [Line Items]
Preferred stock, shares authorized (in shares)		50,000,000			50,000,000		50,000,000
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.01			$ 0.01		$ 0.01
Number of classes of common ownership interests | class					2
Conversion ratio					1.25
Common unit, multiplier used for conversion ratio					1.25
Carvana Group
Limited Partners' Capital Account [Line Items]
Number of classes of common ownership interests | class					2
Class A Units
Limited Partners' Capital Account [Line Items]
Conversion ratio						0.80
Class A Units | Carvana Group
Limited Partners' Capital Account [Line Items]
Common units, issued (in shares)					214,600,000
Common units, outstanding (in shares)					214,600,000
Class B Units
Limited Partners' Capital Account [Line Items]
Conversion ratio				0.80
Class B Units | Carvana Group
Limited Partners' Capital Account [Line Items]
Common units, issued (in shares)					3,400,000
Common units, outstanding (in shares)					3,400,000
Garcia Parties
Limited Partners' Capital Account [Line Items]
Ownership percentage of outstanding shares, minimum requirement			25.00%
Carvana Sub
Limited Partners' Capital Account [Line Items]
Percentage of voting power			0.10%
Class A Common Stock
Limited Partners' Capital Account [Line Items]
Common stock, shares authorized (in shares)		500,000,000			500,000,000		500,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.001			$ 0.001		$ 0.001
Number of votes | vote		1
Required ratio between shares issued and shares owned of subsidiary		0.8
Required ratio between shares outstanding and shares owned of subsidiary		0.8
Class B Common Stock
Limited Partners' Capital Account [Line Items]
Common stock, shares authorized (in shares)		125,000,000			125,000,000		125,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.001			$ 0.001		$ 0.001
Number of votes | vote		1
Conversion ratio		0.8
Class B Common Stock | Garcia Parties
Limited Partners' Capital Account [Line Items]
Number of votes | vote		10
Convertible Preferred Stock
Limited Partners' Capital Account [Line Items]
Conversion ratio	0.8

Stockholders' Equity - Equity O

Stockholders' Equity - Equity Offerings (Details) - USD ($) $ / shares in Units, $ in Thousands	May 21, 2020	Apr. 01, 2020	Jun. 20, 2019	May 24, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020
Subsidiary, Sale of Stock [Line Items]
Stock sold during period, net proceeds					$ 1,058,940	$ 297,611
Carvana Group | Class A Units
Subsidiary, Sale of Stock [Line Items]
LLC units purchased (in shares)							22,900,000
Public Equity Offering | Carvana Group | Class A Units
Subsidiary, Sale of Stock [Line Items]
LLC units purchased (in shares)	6,300,000
Over-Allotment Option | Carvana Group | Class A Units
Subsidiary, Sale of Stock [Line Items]
LLC units purchased (in shares)			6,000,000
Registered Direct Offering | Carvana Group | Class A Units
Subsidiary, Sale of Stock [Line Items]
LLC units purchased (in shares)		16,700,000
Class A Common Stock | Public Equity Offering
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	5,000,000			4,200,000
Sale of stock, price per share (in dollars per share)	$ 92			$ 65
Sale of stock, net proceeds received				$ 258,800
Stock sold during period, net proceeds	$ 459,500
Class A Common Stock | Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Sale of stock, net proceeds received			$ 38,900
Sale of stock, option to purchase, number of additional shares, period				30 days
Sale of stock, option to purchase, number of additional shares (in shares)				600,000
Class A Common Stock | Registered Direct Offering
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		13,300,000
Sale of stock, price per share (in dollars per share)		$ 45
Stock sold during period, net proceeds		$ 599,500
Class A Common Stock | Registered Direct Offering | Ernest Garcia, II
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		600,000
Stock sold during period, net proceeds		$ 25,000
Class A Common Stock | Registered Direct Offering | Ernest Garcia III
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		600,000
Stock sold during period, net proceeds		$ 25,000

Stockholders' Equity - Exchange

Stockholders' Equity - Exchange Agreement (Details) shares in Millions	May 03, 2017	Sep. 30, 2020shares	Sep. 30, 2020shares	Dec. 31, 2018
Limited Partners' Capital Account [Line Items]
Conversion ratio			1.25
Class B Common Stock
Limited Partners' Capital Account [Line Items]
Conversion ratio	0.8
Exchange Agreement
Limited Partners' Capital Account [Line Items]
LLC units received (in shares)		1.3	1.8
Exchange Agreement | Class B Common Stock
Limited Partners' Capital Account [Line Items]
Conversion of stock, converted (in shares)			0
Exchange Agreement | Class A Common Stock
Limited Partners' Capital Account [Line Items]
Conversion ratio	0.8
Conversion of stock, issued (in shares)			1.4
Class A Units
Limited Partners' Capital Account [Line Items]
Conversion ratio				0.80
Class A Units | Exchange Agreement
Limited Partners' Capital Account [Line Items]
Conversion of stock, converted (in shares)			1.8
LLC units received (in shares)			1.8

Stockholders' Equity - Class A

Stockholders' Equity - Class A Non-Convertible Preferred Units (Details) - USD ($)	Oct. 02, 2018	Oct. 02, 2020
Senior Notes | Senior Unsecured Notes Effective September 2018
Limited Partners' Capital Account [Line Items]
Repayment or retirement of debt, equity cancellation and retirement criteria	$ 1,000
Carvana Group | Class A Non-Convertible Preferred Units
Limited Partners' Capital Account [Line Items]
Issuance of stock (in shares)	600,000
Repayment of debt, number of shares canceled and retired (in shares)	1
Carvana Group | Class A Non-Convertible Preferred Units | Subsequent Event
Limited Partners' Capital Account [Line Items]
Repayment of debt, number of shares canceled and retired (in shares)		600,000

Stockholders' Equity - Contribu

Stockholders' Equity - Contribution of Class A Common Shares From Ernest Garcia III (Details) - USD ($) shares in Millions	Sep. 10, 2018	Sep. 30, 2019	Sep. 30, 2019
Restricted Stock Units
Limited Partners' Capital Account [Line Items]
Issuance of stock (in shares)		0.1	0.2
Chief Executive Officer | Contribution Agreement | Restricted Stock Units
Limited Partners' Capital Account [Line Items]
Contribution of Class A common stock from related party, fee charged	$ 0
Chief Executive Officer | Class A Common Stock | Contribution Agreement
Limited Partners' Capital Account [Line Items]
Contribution of Class A common stock from related party (in shares)		0.1	0.2
Contribution of Class A common stock from related party, fee charged		$ 0	$ 0

Non-controlling Interests - Nar

Non-controlling Interests - Narrative (Details) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)
Noncontrolling Interest [Line Items]
Conversion ratio							1.25
Decrease (increase) adjustments related to LLC units					$ (1)
Carvana Group
Noncontrolling Interest [Line Items]
Ownership percentage by Carvana Co.	40.40%						40.40%
Ownership percentage by LLC Unitholders	59.60%						59.60%
Non-controlling Interests
Noncontrolling Interest [Line Items]
Decrease (increase) adjustments related to LLC units	$ 5,425	$ 1,385	$ 36	$ 1,196	1,571	$ 1,899	$ 6,800	$ 4,700
Non-controlling Interests | Public Equity Offering
Noncontrolling Interest [Line Items]
Decrease (increase) adjustments related to LLC units							(643,900)	(201,000)
Additional Paid-in Capital
Noncontrolling Interest [Line Items]
Decrease (increase) adjustments related to LLC units	$ (5,424)	$ (1,385)	$ (36)	$ (1,196)	$ (1,571)	$ (1,899)	(6,800)	(4,700)
Additional Paid-in Capital | Public Equity Offering
Noncontrolling Interest [Line Items]
Decrease (increase) adjustments related to LLC units							$ 643,900	$ 201,000

Non-controlling Interests - Cha

Non-controlling Interests - Changes in Ownership (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Noncontrolling Interest [Line Items]
Increase as a result of exchanges of LLC Units	$ 6,845	$ 4,666
Total transfers to non-controlling interests	(637,041)	(196,349)
Class A Common Stock
Noncontrolling Interest [Line Items]
Decrease as a result of issuances of Class A common stock	$ (643,886)	$ (201,015)

Equity-Based Compensation - Equ

Equity-Based Compensation - Equity-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	$ 7,257	$ 10,473	$ 22,012	$ 27,097
Equity-based compensation, net of capitalized amounts	5,761	7,797	17,823	21,707
Unrecognized compensation expense	66,400		$ 66,400
Unrecognized compensation expense, period for recognition			2 years 9 months 18 days
Property, Plant and Equipment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense capitalized	(1,406)	(852)	$ (4,001)	(1,731)
Inventories
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense capitalized	(90)	(1,824)	(188)	(3,659)
Class B Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	256	648	973	1,804
Restricted Stock Units and Awards excluding those granted in relation to the 100k Milestone Gift
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	4,887	3,513	14,656	9,194
Restricted Stock Units granted in relation to the 100k Milestone Gift
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	0	4,446	0	10,379
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	1,777	1,369	5,193	4,033
Class A Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	$ 337	$ 497	$ 1,190	$ 1,687

Equity-Based Compensation - 201

Equity-Based Compensation - 2017 Omnibus Incentive Plan (Details) - 2017 Omnibus Incentive Plan	9 Months Ended
	Sep. 30, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Service-based vesting period	4 years
Restricted Stock Units granted in relation to the 100k Milestone Gift
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Service-based vesting period	7 days
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Maximum number of awards authorized for grant (in shares)	14,000,000
Number of shares available for grant (in shares)	9,800,000

Equity-Based Compensation - Cla

Equity-Based Compensation - Class A Units (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2018$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion ratio	1.25
Class A Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted in the period (in dollars per share)		$ 18.58
Conversion ratio		0.80
Minimum | Class A Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service-based vesting period		2 years
Maximum | Class A Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service-based vesting period		4 years

Equity-Based Compensation - C_2

Equity-Based Compensation - Class B Units (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Sep. 30, 2020shares	Sep. 30, 2019shares	Sep. 30, 2020USD ($)shares	Sep. 30, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion ratio				1.25
Class B Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion ratio	0.80
Number of units issued in the period (in shares) | shares		0	0	0	0
Class B Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service-based vesting period	4 years
Participation threshold				$ 0
Class B Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service-based vesting period	5 years
Participation threshold				$ 12

Loss Per Share - Calculation of

Loss Per Share - Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended						9 Months Ended
		Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net loss		$ (17,720)	$ (106,326)	$ (183,557)	$ (92,244)	$ (64,059)	$ (82,596)	$ (307,603)	$ (238,899)
Net loss attributable to non-controlling interests		10,635			62,156			199,801	165,373
Net loss attributable to Carvana Co. Class A common stockholders, basic and diluted		$ (7,085)			$ (30,088)			$ (107,802)	$ (73,526)
Restricted Awards
Denominator:
Nonvested weighted-average restricted stock awards (in shares)		(59)			(216)			(106)	(247)
Class A Common Stock
Denominator:
Weighted-average shares of Class A common stock outstanding (in shares)		70,064			50,003			62,350	45,973
Weighted-average shares of Class A common stock to compute basic and diluted net loss per Class A common share (in shares)	[1]	70,005			49,787			62,244	45,726
Net loss per share of Class A common stock, basic and diluted (in dollars per share)		$ (0.10)			$ (0.60)			$ (1.73)	$ (1.61)
[1]	Weighted-average shares of Class A common stock outstanding have been adjusted for unvested restricted stock awards.

Loss Per Share - Narrative (Det

Loss Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Class B Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Units outstanding (in shares)			3.4	5.3
Common Class B And Class B Common Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	104.4	105.7	104.9	107
Class B Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	101.3	101.6	101.3	102.6
Class B Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3.1	4.1	3.6	4.4
Restricted Awards and Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.7	0.6	0.8	0.8
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)			1.1	1.2

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) shares in Millions	Apr. 12, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Income Tax Contingency [Line Items]
Uncertain tax positions		$ 0		$ 0		$ 0
Related reserves		$ 0		$ 0		$ 0
Effective income tax rate, expense (benefit)		0.40%	0.00%	(0.10%)	(0.00%)
Car360
Income Tax Contingency [Line Items]
Deferred tax liability	$ 2,500,000
Deferred tax liability, amortization expense		$ 100,000	$ 0	$ 300,000	$ 400,000
Car360 | Minimum
Income Tax Contingency [Line Items]
Deferred tax liability, amortization period	2 years			2 years
Car360 | Maximum
Income Tax Contingency [Line Items]
Deferred tax liability, amortization period	7 years			7 years
Carvana Group
Income Tax Contingency [Line Items]
Gross deferred tax asset, acquired during period		$ 47,400,000		$ 56,500,000
Carvana Group | Class A Units
Income Tax Contingency [Line Items]
LLC units purchased (in shares)		22.9		22.9
Gross deferred tax asset, purchased during period		$ 14,100,000		$ 14,100,000
Exchange Agreement
Income Tax Contingency [Line Items]
LLC units acquired (in shares)		1.3		1.8
Exchange Agreement | Class A Units
Income Tax Contingency [Line Items]
LLC units acquired (in shares)				1.8

Income Taxes - Tax Receivable A

Income Taxes - Tax Receivable Agreement (Details) $ in Millions	Sep. 30, 2020USD ($)
Income Tax Disclosure [Abstract]
Deferred tax liability, unrecorded, tax receivable agreements	$ 238.5

Leases - Narrative (Details)

Leases - Narrative (Details)	9 Months Ended
	Sep. 30, 2020renewal_option
Lessee, Lease, Description [Line Items]
Operating lease, number of renewal options	1
Finance lease, extension term	4 years
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, renewal term	1 year
Finance lease, term of contract	2 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, renewal term	20 years
Finance lease, term of contract	5 years

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost and Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Finance leases:
Amortization of finance lease assets	$ 4,239	$ 2,222	$ 11,685	$ 5,477
Interest obligations under finance leases	911	547	2,604	1,392
Total finance lease costs	5,150	2,769	14,289	6,869
Operating leases:
Fixed lease costs	7,325	3,487	20,330	8,759
Total operating lease costs	10,286	5,726	27,813	15,513
Cash payments related to lease liabilities included in operating cash flows:
Operating lease liabilities			12,264	6,147
Interest payments on finance lease liabilities			2,604	1,392
Cash payments related to lease liabilities included in financing cash flows:
Principal payments on finance lease liabilities			12,860	5,581
Related parties
Operating leases:
Fixed lease costs	1,959	1,849	6,086	5,577
Variable short-term lease costs to related parties	$ 1,002	$ 390	1,397	1,177
Cash payments related to lease liabilities included in operating cash flows:
Operating lease liabilities			$ 5,876	$ 6,333

Leases - Schedule of Operating

Leases - Schedule of Operating and Finance Lease Maturities, After Adopting 842 (Details) $ in Thousands	Sep. 30, 2020USD ($)
Finance Leases
Remainder of 2020	$ 5,799
2021	21,395
2022	20,320
2023	19,119
2024	11,801
Thereafter	5,416
Total minimum lease payments	83,850
Less: amount representing interest	(8,409)
Outstanding finance lease	75,441
Operating Leases
Remainder of 2020	5,476
2021	24,351
2022	22,808
2023	20,635
2024	17,485
Thereafter	154,869
Total minimum lease payments	245,624
Less: amount representing interest	(93,998)
Total lease liabilities	151,626
Total
Remainder of 2020	11,275
2021	45,746
2022	43,128
2023	39,754
2024	29,286
Thereafter	160,285
Total minimum lease payments	329,474
Less: amount representing interest	(102,407)
Total lease liabilities	227,067
Related Party
Operating Leases
Remainder of 2020	1,361
2021	5,236
2022	5,225
2023	5,233
2024	3,968
Thereafter	8,501
Total minimum lease payments	29,524
Less: amount representing interest	(6,599)
Total lease liabilities	22,925
Non-Related Party
Operating Leases
Remainder of 2020	4,115
2021	19,115
2022	17,583
2023	15,402
2024	13,517
Thereafter	146,368
Total minimum lease payments	216,100
Less: amount representing interest	(87,399)
Total lease liabilities	$ 128,701

Leases - Schedule of Lease Term

Leases - Schedule of Lease Terms and Discount Rates (Details)	Sep. 30, 2020	Sep. 30, 2019
Weighted-average remaining lease terms (years)
Operating leases	10 years 7 months 6 days	10 years 4 months 24 days
Finance leases	4 years 3 months 18 days	4 years 6 months
Weighted-average discount rate
Operating leases	8.30%	8.70%
Finance leases	5.30%	5.50%

Commitments and Contingencies -

Commitments and Contingencies - Accrued Limited Warranty (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)mi	Dec. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Limited warranty, period	100 days
Limited warranty, miles | mi	4,189
Accrued limited warranty | $	$ 8.2	$ 3.7

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Value Assets Measured on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets:
Beneficial interests in securitizations	$ 112,134	$ 98,780
Money market funds
Assets:
Money market funds	148,406	56,435
Level 1
Assets:
Beneficial interests in securitizations	0	0
Level 1 | Money market funds
Assets:
Money market funds	148,406	56,435
Level 2
Assets:
Beneficial interests in securitizations	0	29,222
Level 2 | Money market funds
Assets:
Money market funds	0	0
Level 3
Assets:
Beneficial interests in securitizations	112,134	69,558
Level 3 | Money market funds
Assets:
Money market funds	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narrative (Details) - Fair Value, Measurements, Recurring	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase price adjustment receivable	$ 10,200,000		$ 10,200,000		$ 6,900,000
Purchase price adjustment receivable, gain (loss), fair value adjustment	$ 3,400,000	$ 0	$ (1,600,000)	$ 0
Level 3 | Variable Interest Entity, Not Primary Beneficiary | Measurement Input, Discount Rate | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, discount rate					0.100
Minimum | Level 3 | Variable Interest Entity, Not Primary Beneficiary | Measurement Input, Discount Rate | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, discount rate	0.021		0.021
Maximum | Level 3 | Variable Interest Entity, Not Primary Beneficiary | Measurement Input, Discount Rate | Valuation Technique, Discounted Cash Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, discount rate	0.100		0.100

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Reconciliation Level Three, Beneficial Interests in Securitizations (Details) - Variable Interest Entity, Not Primary Beneficiary - Level 3 - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening Balance	$ 116,563	$ 18,600	$ 69,558	$ 0
Transfers into Level 3	0	26,592	29,222	46,123
Received in securitization transactions	0	0	39,578	0
Cash receipts	(11,838)	(2,913)	(30,245)	(4,021)
Change in fair value	7,409	(396)	4,021	(219)
Ending Balance	$ 112,134	$ 41,883	$ 112,134	$ 41,883

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Carrying Value and Fair Value, Senior Notes (Details) - Level 2 - Senior Unsecured Notes Effective September 2018 - Senior Notes - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Carrying value, net of unamortized debt issuance costs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 592,944	$ 591,124
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 619,389	$ 625,114

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Carrying Value and Fair Value, Finance Receivables (Details) - Level 2 - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finance receivables	$ 316,972	$ 286,969
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finance receivables	$ 342,973	$ 304,532

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Supplemental cash flow information:
Cash payments for interest, including $666 and $703, respectively, to related parties	$ 55,300	$ 36,930
Non-cash investing and financing activities:
Capital expenditures included in accounts payable and accrued liabilities	34,161	14,983
Property and equipment acquired under finance leases	36,860	24,253
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	51,934	27,059
Equity-based compensation expense capitalized to property and equipment	4,001	1,731
Fair value of beneficial interests received in securitization transactions	39,578	80,072
Reductions of beneficial interests in securitizations and associated long-term debt	21,463	1,444
Debt issuance costs included in accounts payable and accrued liabilities	2,188	0
Related Party
Supplemental cash flow information:
Cash payments for interest, including $666 and $703, respectively, to related parties	$ 666	$ 703

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 173,704	$ 76,016	$ 94,943	$ 78,861
Restricted cash	22,619	42,443	13,531	9,848
Total cash, cash equivalents and restricted cash	$ 196,323	$ 118,459	$ 108,474	$ 88,709

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($)	Oct. 02, 2020	Oct. 01, 2020	May 24, 2019	Sep. 21, 2018
Senior Notes
Subsequent Event [Line Items]
Debt issued, interest rate			8.875%
Senior Unsecured Notes Effective September 2018 | Senior Notes
Subsequent Event [Line Items]
Debt issued, aggregate principal amount				$ 350,000,000
Subsequent Event | Senior Unsecured Notes Effective October 2020, 5.625% | Senior Notes
Subsequent Event [Line Items]
Debt issued, aggregate principal amount	$ 500,000,000
Debt issued, interest rate	5.625%
Subsequent Event | Senior Unsecured Notes, Effective October 2020, 5.875% | Senior Notes
Subsequent Event [Line Items]
Debt issued, aggregate principal amount	$ 600,000,000
Debt issued, interest rate	5.875%
Subsequent Event | Senior Unsecured Notes Effective September 2018 | Senior Notes
Subsequent Event [Line Items]
Debt issued, aggregate principal amount	$ 1,100,000,000
Repayment of debt	626,800,000
Debt redeemed, aggregate principal amount	$ 600,000,000
Subsequent Event | Floor Plan Facility | Line of Credit
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,250,000,000
Subsequent Event | Floor Plan Facility | Line of Credit | LIBOR
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate		3.15%