Carvana Auto Receivables Trust 2025-P3 closes $29.8M Class N Notes and other ABS issuance on September 23, 2025

Carvana Receivables Depositor LLC

Issued Class A-1, A-2, A-3, A-4, B, C, D and Class N ($29.8M) and Class XS notes and 100,000 Certificates.
Carvana retained 5% by principal/nominal amount of Certificates and Class N Notes for risk retention.
Transaction closed September 23, 2025; governed by new Indenture, Servicing, and other standard ABS agreements.
Receivables pool consists of fixed-rate retail installment contracts for used cars and light duty trucks originated by Carvana.

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