New online car buying option begins today in region

An online used car vendor traded on the New York Stock Exchange will begin offering vehicles for sale in Boulder, Fort Collins, Greeley and Colorado Springs starting today. The company has been selling vehicles in Denver for the past year.

Carvana LLC (NYSE: CVNA), based in Tempe, Ariz., is bringing its as-soon-as-next-day vehicle delivery to the region. The company offers a seven-day test drive and permits buyers to return a vehicle that doesn’t meet the customer’s needs.

“We’re looking forward to adding the new markets in Colorado,” Amy O’Hara, associate director of communications for Carvana told BizWest.

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She described Carvana as a “complete vertical” in that the company buys used vehicles, trades vehicles, repairs and prepares vehicles for market, sells them and delivers them.

“We secure inventory the same way any other dealership does,” she said. She said the company uses car auctions, trade ins, buyouts of leases and other methods to buy vehicles. It houses inventory at five centers, the closest of which to Colorado is just outside of Phoenix.

Carvana targets late-model, low-mileage vehicles, “but you’ll see older and more miles on vehicles depending on customer demand,” she said. There are 15,000 vehicles in inventory spread around the five sites.

Mechanical shops at the five inventory sites handle inspections and reconditioning, she said.

When customers buy specific cars, they are told anticipated delivery date, which could be the next day, she said.

Carvana has operations in 30 states but has delivered vehicles to all but Alaska and Hawaii. It employs about 3,880 people, up by 2,000 since the end of 2017.

“Colorado residents have so many different needs when it comes to a vehicle,” said Ernie Garcia, founder and CEO of Carvana. “We’re proud to offer Colorado Springs, Boulder, Fort Collins and Greeley a national inventory … so they easily and quickly get exactly what they need.”