Phoenix-Based Carvana Rises up with a New Way to Buy a Car in the Valley of the Sun

Less than five years ago, Carvana (NYSE: CVNA) embarked on a mission to change the way people buy cars, disrupting the decades-old dealership model by putting cars online and customers in control. Since its founding in Phoenix, Carvana has launched a local presence in 32 markets, and today is proud to announce its hometown is market number 33. Starting today, Phoenix area residents can beat the heat and purchase a car entirely online at Carvana.com, in as little as 10 minutes, and schedule free delivery of their vehicle to their home or office – or anywhere with air conditioning.

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Carvana launches its 33rd market in its hometown of Phoenix (Photo: Business Wire)

Carvana launches its 33rd market in its hometown of Phoenix (Photo: Business Wire)

From start to finish, Carvana makes buying a car fun and simple. By visiting Carvana.com, customers can browse more than 7,000 vehicles, secure financing, sign contracts, trade in an old car and receive direct-to-door delivery. In addition to saving time, Carvana customers also save money. In 2016, customers saved an average of $1,430 compared to Kelley Blue Book Suggested Retail Value.

With transparency and safety at the forefront of the Carvana experience, all vehicles have passed a rigorous 150-point inspection, have never been in a reported accident nor have frame damage. In addition, Carvana lists out all features, imperfections and updated information about open safety recalls on the car's vehicle description page. To ensure complete peace of mind, customers are also offered a seven-day test-own period for each vehicle.

“As the home of our headquarters – and nearly 500 of our employees – launching in Phoenix is particularly meaningful for us,” said Ernie Garcia, founder and CEO of Carvana. “To be able to deliver our cars to the community that has supported us from the beginning is incredibly humbling.”

Carvana has delivered vehicles to customers in 48 states, and offers free, as-soon-as next-day delivery to residents in 33 markets: Atlanta, Augusta (Ga.), Austin, Birmingham, Charlotte, Chicago, Cincinnati, Cleveland, Columbia (S.C.), Columbus, Dallas, Detroit, Greenville (S.C.), Hampton Roads (Va.), Houston, Indianapolis, Jacksonville, Louisville (Ky.), Macon (Ga.), Memphis, Miami, Nashville, Oklahoma City, Orlando, Philadelphia, Pittsburgh, Raleigh, Richmond, San Antonio, St. Louis, Tampa, Washington D.C., and now Phoenix.

About Carvana (NYSE: CVNA)

Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA) mission is to change the way people buy cars. By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online automotive retail platform, with a fully transactional website that enables consumers to quickly and easily buy a car online, including finding their preferred vehicle, qualifying for financing, completing the purchase and loan with signed contracts, and receiving delivery or pickup of the vehicle from one of Carvana’s proprietary automated Car Vending Machines.

For further information on Carvana, please visit www.carvana.com, or connect with us on Facebook, Instagram or Twitter.

Contacts:

Carvana
Kate Carver, 212-656-9148
carvana@olson.com

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