Ernest 'Ernie' Garcia II is an American businessman, the self-made billionaire owner of DriveTime (originally Ugly Duckling), a prominent subprime vehicle financing firm, and a major shareholder of the online retailer Carvana (NYSE: CVNA). Born in Gallup, New Mexico, in 1957, his father was a co-owner of a liquor store and a former mayor of Gallup.

Garcia's career is marked by controversy and massive financial comebacks. In 1990, he pled guilty to a felony bank fraud charge for his role as a straw borrower in the collapse of the Lincoln Savings and Loan Association. He spent three years on probation and filed for bankruptcy. Undeterred, in 1991, he purchased the bankrupt Ugly Duckling rent-a-car franchise for under $1 million, merging it with his own finance company to create a highly profitable business model focused on selling and financing used cars for sub-prime buyers with poor credit history.

Ernest Garcia II's strategic vision centered on vertically integrating used car sales with high-yield subprime financing. In 1996, he took Ugly Duckling public on the NASDAQ under the ticker UGLY. He took the company private again in 2002, renaming it DriveTime, and became its CEO. The company achieved massive success by capitalizing on the complex, high-risk, high-yield niche of subprime auto lending.

His most significant recent success is his investment in Carvana (CVNA), the disruptive online used car retailer founded by his son, Ernest Garcia III. Garcia II is a major shareholder in Carvana, whose massive valuation cemented his position as one of the world's wealthiest individuals (estimated net worth of $20.7 billion as of January 2025). His career is a testament to the immense profitability derived from mastering the complexities of specialized, high-risk financial services in the automotive sector.

Ernest Garcia II's social impact is structural, tied to DriveTime's role in providing credit access to millions of Americans with poor credit history, enabling them to purchase vehicles. His companies provide thousands of stable jobs in automotive retail and finance.

His career is a powerful narrative of a successful, albeit controversial, financial rebound from a felony conviction and bankruptcy. His personal philanthropy supports various community and political causes, including being a major donor to the Republican Party.

Ernest Garcia II maintains the professional, composed style of a successful executive. His attire is consistently formal and high-quality, favoring tailored business suits. His aesthetic is one of confident authority, reflecting his decades of commanding multi-billion dollar enterprises.

Residing in the U.S., his luxury is the immense security and autonomy derived from his multi-billion dollar fortune. His life is defined by his commitment to his family's corporate legacy, his passion for classic cars, and his continued influence in the high-stakes automotive finance sector.