As it scales up, Carvana’s online-only approach collides with the real-world red tape of selling used cars. 'Makes me wish I’d just gone to the car lot,' one buyer said.
Carvana Co. says its goal is to help consumers sidestep everything people hate about buying used cars, thanks to a shopping experience that takes place almost entirely online. The approach has won over investors, who have enjoyed a return of more than 200% on the stock since the start of last year.
But some customers say the experience hasn’t been as smooth as they expected, as the nine-year-old company gets tripped up in paperwork and bureaucratic red tape.
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