Online car retailer Carvana admitted violating Illinois law on the timely issuance of car titles and registrations and has agreed to follow enhanced rules to protect consumers, Illinois Secretary of State Alexi Giannoulias said Tuesday.
law on the timely issuance of car titles and registrations and has agreed to follow enhanced rules to protect consumers, Illinois Secretary of State Alexi Giannoulias said Tuesday.
State officials had accused Carvana of failing to get some customers their vehicle titles within a 20-day deadline set by state law, with some allegedly waiting four to six months for the documents. Officials also said Carvana illegally gave some buyers temporary vehicle registrations from another state to replace expiring registrations in Illinois.
Carvana delivers cars directly to customers but is also known for its brightly lit "vending machines" where buyers can retrieve vehicles. One is in Oak Brook and another was proposed in Skokie, but the company’s financial trouble raises doubts about its ability to expand.With a heavy load of debt, Carvana has reported escalating losses and laid off staff as the value of its used-car inventory has declined.
A person close to the situation said Carvana has worked to resolve lingering issues with titles and registrations. Customers with problems can call 333-4554.
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