Carvana Launches First 100 Percent Online Car Retailer in Atlanta Consumers can purchase vehicles in 30 minutes and receive next day delivery

ATLANTA, Jan. 29, 2013 /PRNewswire/ -- Carvana announces its launch into the used car market following an exclusive preview at The High Museum of Art on Jan. 28. The first–of-its-kind in the auto industry, Carvana offers potential car buyers the unique opportunity to browse, finance and buy a car entirely online. Carvana.com caters to a wide variety of consumers from car enthusiasts to convenience seekers by simplifying the car buying process with innovative technology and next day delivery.

Carvana is backed by DriveTime, a company with more than $1 billion in revenue and over 20 years' experience in the car buying and selling market.  With a focus on mid-market and luxury vehicles, Carvana will launch its services in the Atlanta metropolitan area; however, with physical plant operations in Winder, Ga. it has the capacity to serve cities throughout Georgia and the surrounding five states.  With the support of the 7th-largest used car retailer in the country, Carvana will be able to leverage existing infrastructure, in conjunction with its proprietary technology, to expand rapidly across the United States.

"We have the ambition and fresh perspective of a start-up paired with the experience, infrastructure, and knowledge gained from our prior work and partnership with DriveTime," says Carvana President, Ernie Garcia. "We are excited to introduce an entirely new concept into the car industry and breathe new life into the car buying experience."

According to a recent survey conducted by Accenture's Automotive Industry Group, 88 percent of potential car buyers want clearer online pricing and 94 percent would consider purchasing a car entirely online, from search to delivery. Carvana plans to capture this audience by offering a drastically different car buying experience, one that eliminates hours of haggling, waiting and frustration and replaces it with a simple, always on and relaxed process with added savings to the customer.

"Physical car dealerships have high overhead costs that are passed onto the consumer during the car buying process," explains Garcia.  "Carvana eliminates physical overhead and replaces it with a consumer-friendly technology, creating a 360 degree online experience that gives complete control to the customer."

Transparency and technological innovation are two key differentiators between the Carvana experience and the average used car purchase process. Carvana.com features notable advancements in photography, by providing high-definition 360 degree interior and exterior views, where consumers can take a vehicle for a virtual spin.  Carvana's online platform simplifies the financing process by allowing consumers to manipulate down payment and monthly payment options to instantly formulate a payment plan unique to them.  

"As the first complete online auto retailer, we pride ourselves on our transparency and ease of use," Garcia notes.  "Customers can experience our patent-pending, state of the art photography system and benefit from a unique and dynamic pricing and finance model so when they come to Carvana, what they see is truly what they get."

Carvana's Winder facility currently boasts a 150-car inventory with plans to increase this on a monthly basis throughout 2013.  All vehicles in inventory are less than three years old and include an Experian Autocheck report.  In addition, a majority of the vehicles maintain their original manufacturer warranty and come with full disclosure of any functional or cosmetic damage. All Carvana vehicles are backed by a 7-day, no-questions-asked Test Buy return policy.

About Carvana
Carvana was founded on the principle belief that car buying should be a quick and painless process.  By leveraging advances in technology against the costly overhead it takes to maintain a traditional dealership, Carvana is able to transfer savings on to the customer.  By increasing transparency and efficiency, Carvana puts the car buying experience back into the hands of the consumer. For further information, please visit www.carvana.com.

SOURCE Carvana



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