Carvana Launches in Austin, Texas

Online Retailer’s Rapid Market Expansion Continues; Now Offers Free
Next Day Delivery to 5.5 Million Austin Residents

AUSTIN, Texas–(BUSINESS WIRE)–Carvana
– the first complete online auto retailer and Forbes’ Fifth Most
Promising Company – is continuing its rapid expansion and tackling
growing demand for their online buying experience by adding another new
market to their geographic footprint. Austin is now the third city in
Texas where Carvana has a physical presence, and is the seventh market
in Carvana’s growing portfolio nationwide.

Carvana provides free, next day delivery on all purchases within a
100-mile radius of any location, meaning 5.5 million consumers in the
Austin area can now take advantage of this benefit. With physical
locations in seven markets – Atlanta, Birmingham, Dallas, Charlotte,
Houston, Nashville and, now, Austin – 44.7 million consumers total can
benefit from Carvana’s free, next day delivery option. The company also
offers additional delivery options to consumers across the country,
ensuring nationwide access to the Carvana experience.

“Carvana offers an innovative approach to car buying, and we’re excited
to be in Austin, where innovation and forward-thinking ideas are
embraced and celebrated,” said Ernie Garcia, founder and CEO of Carvana.
“With Carvana, you can buy a car entirely online – from financing, to
trade-in to signing contracts to scheduling delivery, along with the
peace-of-mind of a 7-day no questions asked return policy. We’ve seen an
incredible response to our offering and our mission is to give people
everywhere a better way to buy a car. Austin is huge step toward
achieving that goal.”

Carvana has raised more than $300 million in funding to date and plans
to continue its aggressive expansion strategy over the coming months and
years. New markets like Austin will help Carvana satisfy the growing
demand, by creating an online experience that enables consumers to save
both time and money with options like free next-day-delivery, versus the
process of purchasing a car at a traditional dealership. In fact, a
recent online Harris Poll of Texas residents age 18 and older found
nearly one third of adults would purchase a car 100 percent online.

To show appreciation for Austin’s early adopters who’ve purchased a
vehicle through Carvana prior to today’s launch, Carvana is offering to
refund the delivery fee they previously paid with their purchase.

About Carvana

Founded in 2013 and based in Phoenix, Ariz., Carvana is the first
complete online auto retailer offering vehicle purchase in as little at
11 minutes, with an average saving of $1,681. 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 are accident-free,
undergo a 150-point inspection and come with a 100-day/4,189 mile
bumper-to-bumper warranty, as well as a 7-Day Test Drive and
No-Questions-Asked 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,
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Contacts

for Carvana
Alison Deffner, 800-333-4554
press@Carvana.com