Carvana, founded in 2013 by the owner of Drivetime Earnest Garcia II, sells inspected, certified cars online with a seven-day “test buy” period, passing on savings to consumers who can bypass dealerships and sales commissions.
The company allows clients to shop, finance, and even trade in their current used car, all online. Cars can be transferred nationwide and are generally picked up at what is known as “vending machine” sites, which accept a special type of coin that is mailed to the customer after the sale has been completed. Using the company’s online 360 viewing camera, clients can inspect every part of the vehicle, inside and out.
Carvana is listed as #34 on the 2017 Inc. 5000 list of Fastest Growing Companies in America. In 2016, the company had annual revenue of $365.1 million and a three-year growth rate of 7,925%. The company also took the #1 spot on the Inc. list of Top Arizona Companies & Top Phoenix Companies, as well as the #2 spot for Top Retail Companies.
In April of 2018, Carvana and Ford made a short-term agreement to advertise and sell more Ford used cars on the Carvana app. It is unknown at this time if the agreement will be renewed.
The company also ranked 5th on the Forbes 2015 list of America’s Most Promising Companies. 
In order to fight the coronavirus, the company launched a virtual tour of its most impressive cars, including a Porsche 911, in September 2020.
Also in September 2020, the company announced that it was hiring 100 new employees at their Tolleson, Arizona, inspection station.
In April 2022, the company suffered its first loss and stock prices dropped.
Carvana maintains a corporate office in Phoenix, Arizona.
