Connected Car
The tool is meant to make determining a vehicle's value in the lead-up to selling or trading it in less daunting for consumers, said Andrew Dickerson, director of engineering, special projects at Carvana. "With Carvana Value Tracker, we are demystifying car selling by offering insight into a customer's car's value at any point in time, in a way that is actionable should they choose to sell." To use it, vehicle owners enter certain vehicle details, including their license plate number, postal code and vehicle mileage. Carvana will keep owners who have entered vehicle data "periodically informed of the vehicle's competitive value as market conditions fluctuate" via email, according to the news release. Carvana, in an attempt to strengthen its balance sheet and attain positive cash flow, has been trimming inventory and slashing advertising expenses.