"I wasn't sure people would buy a used car online without seeing it," said Ernest Garcia II. Sounds like a reasonable doubt. But his son, Ernest Garcia III, thought differently.
The dad already owned used car dealerships across America. The son wanted to sell those cars online. He got started with his business idea in 2012.
You've seen the gimmicky commercials with cars in a huge vending machine. That's for real. The business is Carvana, and it does almost $2 billion in sales. Their stock has doubled in value since January of this year.
Ernie (III) says, “Our mission is to remove the stress and anxiety from the car-buying experience and make the process fun and exciting."
(cont'd tomorrow)
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