I was researching all these companies when I was looking to sell my Jeep. Every single one of them had this same complaint about either not getting the titles or getting them months later after the purchase. Seems like because they buy so many vehicles in many different states it's a logistical nightmare for them to get these all in order.
I sold mine through Driveway and most of their reviews were 3 stars. But after reading through them it seemed like all the purchases they made were 5 star and it was the ones where people were buying that had the bad experiences.
I was looking at their stock today. It stopped trading 2 times this morning. Now the vultures are circling. They’re saying about 35 to 40% of the stock is traded by shorting. That’s not a good long term business plan for success
In this new digital title world I wonder if any regular dealerships are having any problems. I traded a car in once that was financed through Navy Federal Credit Union an held documents in DC. I got a few calls asking me to contact them to get the title out to them.
I heard about problems with Carvan about 9 months ago on YouTube from Steve Lehto.
No wonder they are in a hurt now. I assume this hurts buyers, and not sellers. It would suck to get a notice that the car you sold to Carvana was in an accident and it's still in your name because they didn't transfer ownership.