Protection Bureau, which was created in 2010 following the financial crisis of 2007–08. DriveTime agreed to pay the penalty and alter its collection process to comply with regulations. The agreement also included close supervision of DriveTime's collection and credit reporting by the Consumer Financial Protection Bureau for five years. Based in Phoenix since its founding, DriveTime moved its company headquarters into a new 97,000-square-foot space in Tempe in November 2015. Carvana then moved into DriveTime's former Phoenix facility. Also in 2015, the company spun off a new sister company, SilverRock Group, offering insurance and warranty services. By 2015, the number of car dealerships DriveTime owned surpassed 130 and by 2018, the company reached 145 dealerships across the nation. In 2017, the company shifted its business model to focus on providing customers newer model vehicles with lower mileage. Spin Offs Bridgecrest Acceptance Corporation Launched in April 2016 by DriveTime, Bridgecrest services installment contracts for DriveTime and affiliated companies. With the spin off, Bridgecrest took over the more than 220,000 customers previously serviced by DriveTime Acceptance Corp. Carvana In 2013, DriveTime became the majority owner of Carvana; the two companies are operated completely separately. Carvana was founded in 2012 and launched nationwide in November 2013. The Phoenix-based company is an online used car retailer. Car-buyers use Carvana's website to view inventory, apply for financing and arrange pickup or delivery. The company has used car vending machines in major cities such as Atlanta, Georgia, and Nashville, Tennessee, where customers can pick up cars they bought online. The startup is able to tap into DriveTime's existing infrastructure, such as service facilities. GO Financial Go Financial is a financer of subprime loans. It is located in Mesa, Arizona. It was founded in 2011 and spun off as its own company in 2013. Cox Enterprises, which owns online marketplace AutoTrader.com and Kelley Blue Book, the car valuation and research company, bought a stake in GO Financial. It services 2,800 dealerships in 46 states. Go Financial ceased originating new loans in May 2016 SilverRock Group DriveTime spun off SilverRock Group in June 2015. The company sells auto insurance, vehicle service contracts and extended warranties. The company, based in Tempe, has approximately 185 employees. Major competitors AutoNation CarMax References External links Auto dealerships of the United States American companies established in 2002 Financial services companies established in 2002 Retail companies established in 2002 Companies based in Tempe, Arizona