Yes, Carvana carries a substantial amount of debt on its corporate balance sheet, which has been a major focal point for financial analysts monitoring the automotive e-commerce platform. The company accumulated significant liabilities through aggressive inventory financing, facility expansions, and corporate borrowing to support its rapid growth strategy during past automotive market booms. Although management has subsequently executed restructuring agreements and debt-exchange transactions to lower total interest obligations and extend maturity timelines, the organization continues to manage significant long-term debt and financing arrangements.