Carvana Expands East Coast Footprint with Washington, D.C. Launch

Leading Online Auto Retailer Selects the Nation’s Capital for its
Sixth New Market of 2016, and 15
th Market
Overall

WASHINGTON–(BUSINESS WIRE)–Continuing its ongoing market expansion along the East Coast, Carvana
– the nation’s leading online auto retailer and creator of the world’s
first coin-operated Car Vending Machine
– today announced its
official launch in Washington, D.C. With Carvana, customers can skip the
dealership altogether by shopping for, financing, purchasing and
trading-in a vehicle from the comfort of their own home. With the
addition of Washington, D.C., Carvana can now provide as-soon-as
next-day delivery to nearly 103.5 million customers nationwide,
including more than 13.2 million residents in the Washington, D.C. area
alone.


Carvana is the only company where customers can search for, buy, finance
and even sell their car entirely online in 20 minutes or less without
ever stepping foot inside a dealership. Carvana also provides a 7-Day
Return Policy for every vehicle purchased from the company’s
ever-expanding online inventory. Additionally, the company has invested
heavily in developing advanced, proprietary technology that gives
customers every tool they need to complete the entire car-buying or
selling transaction from their couch, all while saving $1,681 on average
per purchase. Since its launch in 2013, Carvana has raised $300 million
in funding, and is on a more than $350 million revenue run rate for 2016.

“Washington, D.C. is the largest market we’ve launched in to date, so
we’re tremendously excited to be here,” said Ernie Garcia, founder and
CEO of Carvana. “Not only is D.C. a city rich with history and American
culture, but it’s also a place with a progressive populace of auto
enthusiasts and customers who have a reputation for being tech savvy and
early adopters. With a presence now in 15 markets, we are thrilled to
further support the demand for an online car buying experience by
offering our exceptional service to our Nation’s Capital.”

The launch of Carvana’s Washington, D.C. market aligns with the
company’s overall growth strategy. This includes expanding physical
operations to new markets across the country, hiring outstanding new
talent to Carvana’s growing team, and continuing to invest in
cutting-edge technology that delivers unforgettable customer
experiences. By leveraging this technology, transparency, and
exceptional customer service, Carvana is truly revolutionizing the car
buying process for the modern day car buying customer.

To date, Carvana has delivered cars to customers in 46 states, and
additional markets enable Carvana to offer faster and more affordable
delivery options. Currently, Carvana offers as-soon-as next-day delivery
to local residents in 15 markets, which include: Atlanta, Austin,
Birmingham, Charlotte, Dallas, Houston, Jacksonville, Miami, Nashville,
Orlando, Raleigh, San Antonio, Tampa, Richmond, and now Washington D.C.

To show its appreciation to Washington, D.C.’s early adopters who
purchased a vehicle prior to Carvana’s expansion into the market,
Carvana is offering a full refund of any delivery fee paid.

About Carvana

Founded in 2013 and based in Phoenix, Ariz., Carvana is the first
complete online auto retailer offering vehicle purchase in as little as
11 minutes, with an average savings of $1,681 versus Kelley Blue Book.
Additionally, Carvana launched the world’s first-ever, fully-automated,
coin-operated car Vending Machine, in Nashville, Tenn. With Carvana, you
can shop for, finance, purchase and trade-in a car entirely online,
while also receiving as soon as next-day vehicle delivery or pick-up at
the nation’s first vehicle vending machine. Carvana cars come with an
accident-free guarantee, undergo a rigorous 150-point inspection and
come with a 100-day/4,189 mile bumper-to-bumper warranty, as well as a
7-Day Return Policy. Carvana is revolutionizing the car buying process
through technology, transparency and exceptional customer service, while
eliminating the pressure, hassles and hidden fees that come with buying
from a dealership.

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

Contacts

for Carvana
Alison Deffner
Carvana@olson.com