Online auto retailer Carvana is delivering on its expansion promise.
The Phoenix-based company — which also offers online financing capabilities — set up shop in Florida with a new dealership in Orlando, Carvana announced Tuesday, but will still offer services nationwide.
Adding a physical presence in the market will enable access to free next-day delivery to more than 255,000 residents, according to a company press release.
“As one of the fastest growing metropolitan areas, it’s the perfect market for us to enter, and we look forward to bringing local residents the Carvana experience – where they can buy, finance, trade-in, and purchase a car entirely online – and now experience free, next-day delivery,” Ernie Garcia, founder and chief executive of Carvana, said in the release. Orlando residents, who have purchased a vehicle through Carvana prior to the expansion, will get their delivery fees refunded, as a “show [of] appreciation,” according to the release.
Carvana will continue rapid expansion, by also rolling out more coin-operated Car Vending Machines in new locations, according to the release.
Ally Financial Inc. increased its floorplan credit line with Carvana to $125 million, up from $60 million, in early February. The new credit line represents financing for 7,100 vehicles, up from 3,400 previously. The increased floorplan will contribute to Carvana’s growth plans “in the coming months,” Garcia told AFN at the time.