Filed Pursuant to Rule 433
Registration Nos. 333-285582 and 333-285582-06
*Pricing Details* $1.492BN+ Carvana Prime Auto Loan (CRVNA 2026-P3)
Carvana has mandated Santander (Str), Barclays, and Deutsche as active joint bookrunners, BNP, Citi, Mizuho and Wells Fargo as passive joint bookrunners, and Atlas and SMBC as co-managers on their prime auto transaction, Carvana Auto Receivables Trust 2026-P3 (CRVNA 2026-P3).
--- Anticipated Capital Structure ---
| CLS | TOTAL($MM) | OFFRD($MM) | WAL* | S/F** | P.WIN* | E.FNL* | L.FNL | BENCH | Launch | Yields(%) | CPN(%) | $PX |
=========================================================================================================================
| A-1 | 167.430 | 159.058 | 0.18 | A-1+/F1+ | 01-05 | 01 /27 | 09 /27 | I-CRV | +30 | 4.052 | 4.052 | 100.00000 |
| A-2 | 457.590 | 434.710 | 0.96 | AAA/AAA | 05-19 | 03 /28 | 11 /29 | I-CRV | +60 | 4.579 | 4.53 | 99.99464 |
| A-3 | 457.590 | 434.710 | 2.27 | AAA/AAA | 19-37 | 09 /29 | 08 /31 | I-CRV | +62 | 4.816 | 4.76 | 99.98225 |
| A-4 | 301.820 | 286.729 | 3.65 | AAA/AAA | 37-53 | 01 /31 | 08 /32 | I-CRV | +77 | 5.060 | 5.00 | 99.97538 |
| B | 60.460 | 57.437 | 4.54 | AA/AA | 53-57 | 05 /31 | 10 /32 | I-CRV | +95 | 5.292 | 5.23 | 99.98175 |
| C | 72.090 | 68.485 | 5.01 | A/A | 57-64 | 12 /31 | 02 /33 | I-CRV | +140 | 5.771 | 5.70 | 99.98804 |
| D | 33.328 | 31.661 | 5.48 | BBB/BBB | 64-67 | 03 /32 | 08 /34 | I-CRV | +175 | 6.158 | 6.08 | 99.99821 |
| N^ | 20.930 | 19.883 | 0.49 | BB-/BB+ | 03-11 | 07 /27 | 08 /34 | I-CRV | +170 | 5.579 | 5.51 | 99.99776 |
| R^ | 76.307(MV) | 72.491+(MV) |
=========================================================================================================================
*Based on 1.30% ABS Pricing Speed to 2% Call
^Based on Case 2 assumptions outlined in the Class N OM and Certificate PPM
**Expected Ratings
--- Transaction Details ---
* Total Size : $1,571,238,000
* Offered Size : $1,492,673,000
* Bloomberg Ticker : CRVNA 2026-P3
* Expected Ratings : S&P / FITCH
* Registration : A-D: SEC Registered | N: 144A/RegS
* Minimum Denominations : A-D: $1K x $1K | N: $745K x $1K
* Expected Pricing : 11am
* Expected Settlement : 08/25/26
* First Pay Date : 09/10/26
* ERISA Eligible : A-D: Yes | N: No
* Delivery : DTC, Clearstream, Euroclear(excl. Class N)
* Bill & Deliver : Santander
--- Available Materials ---
* Preliminary Prospectus & Ratings FWP
* Class N Preliminary Offering Memorandum
* Intex Dealname : sancap_crvna_2026-p3_upsize_mkt ; Password: 4JUV
* Deal Roadshow : https://dealroadshow.finsight.com/e/CRVNA26P3 ; Passcode: CRVNA26P3
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