DriveTime traces its roots back to 1977 when Thomas Duck, retired from business, began Ugly Ducking Car Rentals. Over the years, the company was sold, and eventually was purchased by a car dealer, who changed the company from car rentals, to used car sales.
Today, DriveTime has 134 used car lots, as well as an active eCommerce site. Clients can browse used car and apply for financing online or at the lot. The company is best known for offering loans to those with poor or even no credit. Most of the cars are from auctions. On average, the company purchases 150,000 cars at auctions, repairs them, then sells them.
DriveTime is listed on the 2017 Inc. 5000 list as #2913, with an annual revenue in 2016 of $3.34 million and a three year growth rate of 116%. The company has several subsidiaries, including Carvana, Go Financial, and Silver Rock Group, Inc.