Nearly a year after doubling the floor plan credit line for online retailer Carvana, Ally Financial announced a new agreement with the company on Wednesday where the finance company will make up to $600 million available to Carvana during the next 12 months through financing and bulk purchases of contracts.

Tim Russi, president of auto finance at Ally, explained the agreement is another example of the company’s commitment to the online channel and will help support Carvana’s growing origination volume, while helping the company maintain a seamless and transparent financing experience for its customers.

“We are very pleased to be expanding our relationship with Carvana, and continuing to develop innovative financing solutions that help businesses succeed in the online channel,” Russi said in a news release.

“As the industry evolves, Ally is committed to providing products and services for new business models in the online channel, and also to applying key technology and learnings to help our dealers improve the ease and efficiency of their financing transactions with customers,” he continued.

Under the terms of the agreement, Ally will provide financial arrangements to support Carvana’s retail operations, with an initial commitment of up to $600 million. The agreement expands Ally’s existing relationship with Carvana, which also includes a floor plan credit line and vehicle sourcing through Ally’s SmartAuction platform.

Last February, Ally increased the online retailer’s floor plan credit line from $60 million to $125 million. Executives calculated the increase represented financing for approximately 7,100 vehicles, up from 3,400 vehicles.

Carvana founder and chief executive officer Ernie Garcia elaborated about what Wednesday’s announcement means

“The agreement with Ally will provide Carvana reliable and consistent financing to support both our origination growth and future expansion plans,” Garcia said in the release.

“As we look to enter new cities, this relationship will help us to easily accommodate more volume, while maintaining the seamless customer experience that we are known for,” he added.

Carvana is known for its unique, customer-driven experience, which lets customers control much of the vehicle purchase process, including choosing their financing terms and monthly payments. Ally’s commitment will allow Carvana to maintain a frictionless, transparent customer experience and will help to facilitate Carvana's growth.

With plans to expand to additional states over the next few years, Carvana already offers as-soon-as next-day delivery to residents in 21 markets:

—Atlanta
—Austin, Texas
—Birmingham, Ala.
—Charlotte, N.C.
—Cincinnati
—Cleveland
—Columbus, Ohio
—Dallas
—Houston
—Indianapolis
—Jacksonville, Fla.
—Memphis, Tenn.
—Miami
—Nashville, Tenn.
—Orlando, Fla.
—Pittsburgh
—Raleigh, N.C.
—Richmond, Va.
—San Antonio
—Tampa
—Washington D.C.

And the two companies might not be finished as Ally and Carvana said they are also exploring other opportunities to expand the relationship.