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.
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.
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.
^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: