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Carvana losses keep mounting. Carvana shares slump on widening loss

Executives cite a bunch of reasons for the losses. Chances are they are ignoring the real ones.

Having gone through their purchase experience, I found it lacking at too many levels. The process was too fractured, too impersonal; it involved too many people and took too long. I ended backing out from the deal and buying a new JL from a franchised Jeep dealer.

I initiated my purchase on a Friday. It took me 45 minutes to fill out all the necessary online documents to secure the vehicle. By the time I was done, the price had gone up $600. I wasn’t happy about that.

Every time I was to complete the next step in the process, I had to dial their 1-800 number and be put on hold for 15-30 minutes for a “customer advocate” to become available. I’d get a different person each time, which meant I had to spend another 5 minutes identifying myself, explaining my situation, etc.

Even days after a 3-way phone call with my bank on the line, Carvana kept showing that I still had to “confirm financing.” Getting them to correct their error was no picnic: it involved dialing their 1-800 number, being put on hold for 15-20 minutes, spend 5 minutes identifying myself, finding the correct individual to talk to, etc. After three separate attempts they continued to show the incorrect status. A week later my purchase had barely moved. Exhausted and frustrated, it was much simpler to just cancel the deal than to get them to move along.

I can’t imagine my experience being an isolated case.
 
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Virginia Gentleman
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And yet their ad makes it sound like you can order a car online while binge watching TV and it will be ready at the vending machine or delivered to your door the next day. :rolleyes:

I'm one of those who prefers to inspect the car in person and try it on for size, etc via a test drive, kick the tires, etc. As a vehicle purchase is one of the largest purchases one makes (2nd most expensive after a home) I can't purchase it without seeing it up close.

Our last purchase was from CarMax. Yes, my wife did find it online on their website. She then called and had it transported to the nearest CarMax (no charge) and they placed a 7 day hold on it giving us time to check it out in person and arrange financing. A few days later we completed the transaction which was relatively smooth (maybe 1-2 hours tops) - much better than our previous purchase through the dealer (4 hours).

I do like the idea of having 7 days to examine the vehicle and return it if not satisfied no questions asked.
 

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I have a fried who has purchased 2 cars using Carvana. His experience was more like the commercial portrayed.
But his last purchase was over 2 years ago. I wonder if Carvana is experiencing the troubles Aldo ran into because it's grown too much, too fast?
 
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Discussion Starter · #4 ·
I suppose I too could have watched Netflix while I waited on their 1-800 number for a live “advocate” to show up.

But somehow I feel that in order to do that I shouldn't have cared as much about what I was buying.

Perhaps the Carvana experience wouldn’t have been so bad if I was buying just another greige Prius or Corolla.
 

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2007 Jeep Grand Cherokee 5.7 Hemi Limited, 1998 Jeep Grand Cherokee 4.0 Laredo, 2017 Jeep Wrangler
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I find their commercials to be a turn off. The know nothing and damn proud of it digital generation.
Although a family member just bought a Range Rover from them and the experience was good.
 
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