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Carvana Receivables Depositor LLC

11/12/2026 | Press release | Distributed by Public on 11/12/2026 05:03

Free Writing Prospectus (Form FWP)

Filed Pursuant to Rule 433

Registration No. 333-285582

FREE WRITING PROSPECTUS

Dated November 12, 2026

Carvana Auto Receivables Trust 2026-P4

Issuing Entity

Carvana Receivables Depositor LLC

Depositor

Carvana, LLC

Sponsor

The Depositor has prepared a preliminary prospectus dated November 12, 2026, which describes the notes to be issued by the Issuing Entity. You should review the preliminary prospectus in its entirety before deciding to purchase any of the notes.

Ratings

The Depositor expects that the following classes of notes issued by the Issuing Entity will receive at least the indicated credit ratings from the nationally recognized statistical rating organizations, or "rating agencies," listed below.

Class Fitch Ratings Inc. S&P Global Ratings

A-1

F-1+sf

A-1+ (sf)

A-2 AAAsf AAA (sf)
A-3 AAAsf AAA (sf)
A-4 AAAsf AAA (sf)
B AAsf AA (sf)
C Asf A (sf)
D BBBsf BBB (sf)

It is a condition to the issuance of the notes that, on the closing date, each class of notes receive at least the ratings listed above.

Barclays BNP PARIBAS Wells Fargo Securities
Citigroup Deutsche Bank Securities Mizuho
Santander
Co-Manager
TD Securities

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The Depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the issuer, the Depositor and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling 1-888-603-5847.

Carvana Receivables Depositor LLC published this content on November 12, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on November 12, 2026 at 11:04 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]