I sold our 2010 minivan to VROOM about 2 yrs ago. Hassle-free but could have got more $ selling it privately.
Carvana was actually banned in NC for all of 2022 for not shipping vehicle titles and selling vehicles without inspections. So, crap company imo.
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Yeah, seems like an acquaintance had a problem with them. Acquaintance is pretty incompetent at life in general … your basic train-wreck 24/7. But seems like this issue was not entirely acquaintance’s fault.
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I was just talking to my sibling about this over the holidays. He said he expects them to no longer be in business sometime in 2023. Apparently they have a lot of shady practices, like shipping cars different from what was advertised, etc. So yeah, don’t go through Carvana.
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^2
This video, from CNBC, popped up on my youtube feed.
Jump to 5:27 for commentary on their decline.
The two big ones are:
- Bloated inventory at the peak of market.
- Purchased ADESA for $2.2B which saddled them with $3.275B of debt.
Well, this has turned into a Carvana news dump thread, from the wsj:
https://www.wsj.com/articles/for-clues-about-carvanas-future-look-to-its-past-16421f53?mod=hp_lead_pos9