DriveTime

What DriveTime does

DriveTime, founded in 2002 and headquartered in Tempe, Arizona, is the largest privately owned used-vehicle dealership in the United States, operating 147 retail locations across 29 states and serving a customer base of approximately 1.7 million active borrowers, with a primary focus on subprime credit consumers who are typically rejected by mainstream auto lenders. The company sells used cars, SUVs, trucks, and vans under a no-haggle pricing model, with vehicle-by-vehicle pricing and personalized financing terms determined by an online application that does not impact the customer's credit score during quote generation.

The business is structured as a vertically integrated 'Family of Brands' comprising four core operating units. DriveTime is the dealership arm, reconditioning and retailing 125,000+ vehicles per year. Bridgecrest, founded in 2003, services more than $25 billion in finance receivables for DriveTime and third parties, generating recurring interest and fee income. SilverRock, established in 2014, sells warranty and ancillary products (GAP coverage, theft protection, service contracts) and has processed more than $300 million in claims across 1.5 million contracts. GoFi, launched in the 2020s, is an AI-centric, cloud-based auto-finance platform operating in 36 states, extending DriveTime's lending capabilities to external dealers through co-branded finance and digital retail partnerships.

DriveTime generates revenue through three primary streams: one-time used-vehicle sales, recurring auto-finance interest and servicing income, and recurring warranty/ancillary product income. Distribution is omnichannel — physical dealerships, the drivetime.com e-commerce platform, a 4.6/5-rated mobile application (across 28,779 reviews), phone sales (888-418-1212), and referral programs. The company is owned and controlled by the Garcia family, the same family that controls Carvana, which creates material related-party exposure flagged by third-party short-seller research. A wholly-owned subsidiary, Verde Investments, holds unrelated commercial real estate assets.

Name

DriveTime

Legal name

DriveTime

Website

https://drivetime.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

DriveTime is the largest privately owned US used-car dealership, operating 147 retail locations across 29 states and serving 1.7M+ subprime credit consumers with no-haggle vehicle sales, in-house financing through Bridgecrest, warranty products via SilverRock, and a cloud-based lending platform, GoFi.

Ownership category

akta.pro rank

Product category

Used Vehicle Retail and Auto Financing

NAICS

Used Car Dealers (441120)

SIC

Retail-Auto Dealers & Gasoline Stations (5500)

akta.pro primary industry

New & Used Auto Purchase Loans (FSAKADAA)

Keywords

• Used car dealership
• Subprime auto financing
• Vehicle warranty products
• Auto loan servicing
• Used vehicle retail

Headquarters

HQ city

Tempe

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Used Vehicle Sales: DriveTime generates revenue through the sale of used vehicles at its 147 dealership locations across the United States, featuring no-haggle pricing and transparent financing options for customers.
2. Auto Financing and Lending: DriveTime provides financing options for customers with various credit backgrounds, including subprime borrowers. Bridgecrest services over $25 billion in finance receivables for DriveTime and third parties.
3. Warranty and Ancillary Products: SilverRock provides service contracts, GAP coverage, theft protection, and other warranty products. Has processed over $300 million in claims and sold over 1.5 million service contracts and warranties.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

DriveTime operates 147 used-car dealerships across the United States, selling pre-owned vehicles directly to consumers under a no-haggle pricing model. The company underwrites and services its own in-house subprime auto financing through its Bridgecrest subsidiary, distributes warranty and ancillary protection products through SilverRock, and offers a cloud-based lending platform via its GoFi subsidiary.

Product overview

DriveTime operates as a multi-brand automotive platform consisting of four integrated offerings. The core DriveTime brand provides used car sales with transparent no-haggle pricing and flexible financing for customers across 147 dealerships nationwide. Bridgecrest handles loan servicing, managing over $25 billion in finance receivables for DriveTime and third parties. SilverRock delivers warranty and ancillary protection products including GAP coverage and theft protection. GoFi represents an AI-driven, cloud-native financing platform enabling digital retail and co-branded lending partnerships. Together, these brands provide an end-to-end car buying and ownership experience from vehicle purchase through financing to protection products.

Differentiator

Problem solved

Functional benefit

Products and services

• DriveTime Used Vehicle Sales The primary used-car dealership offering of DriveTime, providing sales of pre-owned cars, trucks, vans, and SUVs with no-haggle pricing, personalized financing terms, a 5-day return guarantee, a 30-day/1,500-mile limited warranty, and free AutoCheck history reports. Operates 147 dealership locations across 29 U.S. states.
• Bridgecrest Auto Loan Servicing Auto loan servicing and financial services subsidiary that manages over $25 billion in finance receivables for DriveTime and third-party lenders. Offers flexible payment plans and servicing solutions for vehicle loan customers.
• SilverRock Warranty and Ancillary Products Warranty and ancillary protection products provider offering vehicle service contracts, GAP coverage, theft protection, and other vehicle protection plans. Has processed over $300 million in claims and sold more than 1.5 million service contracts.
• GoFi Cloud-Based Auto Finance Platform AI-centric, cloud-based auto finance technology platform providing digital-first lending solutions, co-branded finance, and digital retail partnerships. Operates with a dealer network across 36 U.S. states.

Quantifiable outcome

• Customers save $1,000 on average by getting their down payment online
• +1 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered minor and core.

• Gotham City ResearchminorOthers · 28 January 2026Short-seller research firm that published a critical report in January 2026 questioning related-party transactions between Carvana and DriveTime/Bridgecrest. The report alleged DriveTime burned $1 billion in cash over 2023-2024 while leveraging heavily to subsidize Carvana's earnings.
• DriveTime Family of Brands (Internal)coreStrategic or Co-development Partner · 1 January 2002DriveTime operates as part of an integrated family of brands including Bridgecrest (auto loan servicing), SilverRock (warranty/ancillary products), and GoFi (cloud-based auto finance technology). These entities work together to provide a complete vehicle ownership ecosystem from purchase through financing to protection products.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Carvana: Online used car retailer; sister company under Garcia family ownership and direct competitor in used vehicle retail with integrated financing. Highly comparable business model with shared customer overlap.
• CarMax: Largest used car retailer in the US with no-haggle pricing and integrated financing. Closest direct competitor to DriveTime in used vehicle retail, though CarMax skews toward prime credit while DriveTime focuses on subprime.
• Credit Acceptance Corporation: Subprime auto lender working through dealer network. Highly comparable to DriveTime's Bridgecrest financing model — both target subprime credit and depend on dealer-originated loans.

Broad incumbents

• AutoNation: Largest US auto dealership group with broad new and used vehicle retail across multiple brands. Larger, more diversified incumbent serving a wider customer base than DriveTime's subprime focus.
• Lithia Motors: Large publicly traded auto retailer with growing used vehicle and finance arms (Driveway). Comparable in scale and integrated retail-finance strategy, though broader in brand mix.
• Penske Automotive Group: Major global automotive retailer with premium and commercial truck exposure. Overlaps with DriveTime in used vehicle retail but operates at a different price/credit tier.
• Sonic Automotive: US auto dealership group with EchoPark used vehicle stores. EchoPark is a more direct functional competitor to DriveTime within Sonic's broader portfolio.
• Group 1 Automotive: Large multi-brand auto retailer with US and UK operations. Comparable franchise dealership model with used vehicle and F&I exposure, though generally prime-credit skewed.
• Asbury Automotive Group: US auto dealership group with significant Clicklane digital retail initiative. Comparable footprint strategy and integrated retail-finance approach to DriveTime.

Emerging players

• Vroom: Online used car retailer competing in the same digital-first segment as Carvana. Smaller and less established than DriveTime but pressures the same online retail opportunity.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/drivetime
• Facebookfacebook.com/DriveTime
• LinkedInlinkedin.com/company/26168

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DriveTime