DriveTime

DriveTime

Pre-owned car retailer using proprietary tech

Overview

DriveTime is a national pre-owned car retailer that connects buyers with reliable used vehicles and a full suite of services. What it does: it helps customers purchase, finance, and protect pre-owned cars, using its nationwide network and proprietary technology to streamline the buying process. How its product works: customers browse and select from a catalog of certified pre-owned vehicles; DriveTime applies its proprietary tools to assess eligibility and approve financing, then offers financing options and protection plans as part of the sale. How it differs from competitors: it combines over twenty years of industry experience with exclusive software tools to speed up approvals, tailor vehicle matches to customers, and simplify the purchase, financing, and protection experience in one place. What the goal is: to improve the lives of customers and communities by expanding access to affordable, reliable vehicles and growing its footprint across new territories.

About DriveTime

Simplify's Rating
Why DriveTime is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Automotive & Transportation

Financial Services

Company Size

1,001-5,000

Company Stage

N/A

Total Funding

N/A

Headquarters

Phoenix, Arizona

Founded

2002

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Simplify's Take

What believers are saying

  • DriveTime said April 2026 sales rose 12% year over year to 37,000 vehicles.
  • March 2026 plan targets 138,000 sales and $433 million horizontal profit.
  • Comparably awards in 2026 improved recruiting optics for women and diversity candidates.

What critics are saying

  • July 24, 2026 trademark suit against Drive Time Auto Sales drains management attention and cash.
  • DriveTime's 2014 CFPB order still defines collections and credit-reporting scrutiny.
  • Subprime borrowers and 2026 volume targets expose the business to charge-off spikes and inventory stress.

What makes DriveTime unique

  • DriveTime pairs dealership sales, in-house financing, and reconditioning centers into one controlled funnel.
  • July 2026 update said DriveTime sold 71,000 vehicles, validating operational scale and throughput.
  • Winchester, Tennessee reconditioning center opens August 2026, extending supply-chain control nationwide.

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Benefits

Company matched 401k plan

Tuition reimbursement

Leadership development programs

Regular team building events

Onsite networking events with senior leadership

Medical, dental, & vision coverage

Generous paid time off package

Company-paid life insurance and optional disability plans

Maternity & Paternity Leave

Pet Insurance

Company News

BambuUP
Mar 28th, 2025
DriveTime Partners with Girl Gang Garage to Donate Van to Maggie's Place

DriveTime partners with Girl Gang Garage to donate van to Maggie's Place.

Talk Business & Politics
Sep 24th, 2024
Car-Mart hires DriveTime exec Jamie Fischer as COO

Car-Mart hires DriveTime exec Jamie Fischer as COO.

TipRanks
Sep 24th, 2024
America's Car-Mart appoints Fischer as COO

America's Car-Mart announced the appointment of Jamie Fischer as Chief Operating Officer, COO, effective October 7th, 2024.

InHerSight
Aug 7th, 2023
26 companies offering unique benefits and perks

What they offer: DriveTime partners with GasHero, a service that will come to the office and pump employees’ gas for them while they work.

RTÉ
Jul 11th, 2023
How far in advance should you book your holiday?

Sarah Hanrahan, a travel content creator, joined Drivetime to discuss how far in advance you need to book your trips to get the best deals.

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