Remote Vehicle Sale Legislation Signed Into Law in Iowa

Carvana Continues Successful Legislative Campaign in Support of Remote Vehicle Home Deliveries

PHOENIX--(BUSINESS WIRE)-- Legislation to allow remote sales of vehicles has been signed into law by Iowa Governor, Kim Reynolds. The legislation was introduced and sponsored in early March by the Iowa House Transportation Committee, and passed unanimously in both the Iowa House of Representatives with a 95-0 vote, and in the Iowa State Senate in a 50-0 vote. Carvana, an industry pioneer for buying and selling used cars online, has been a strong advocate of this legislation throughout the proceedings.

Iowa Legislation Supported by Carvana Passes Unanimously (Photo: Business Wire)

“Iowa residents have been clear that they are fans of Carvana’s online buying experience,” said William Dammann, Manager of Government Affairs at Carvana. “Today, you can purchase almost anything online, from the comfort of your home, and have it delivered; buying a car should be no different. We are happy to see the legislation pass with widespread support after working closely with the Iowa Department of Transportation and Iowa Auto Dealers Association to craft this legislation.”

The legislation modernizes Iowa state law with options for consumers to reflect the advancements of the car-buying model in the 21st century. The legislation benefits all automotive dealers and remote dealers in the state of Iowa. Many other states have permitted remote vehicle sales and home delivery, as they continue to respond to consumer needs and recognize the immense time and cost savings provided to residents are an increasingly critical element of modern-day life.

Carvana has been operating in Iowa since 2021, and with the passing of this new legislation, is eager to offer Iowans the ability to purchase a vehicle online with fulfillment to their front door.

About

Carvana (NYSE: CVNA) is an industry pioneer for buying and selling used vehicles online. As the fastest growing used automotive retailer in U.S. history, its proven, customer-first ecommerce model has positively impacted millions of people's lives through more convenient, accessible and transparent experiences. Carvana.com allows someone to purchase a vehicle from the comfort of their home, completing the entire process online, benefiting from a 7-day money back guarantee, home delivery, nationwide inventory selection and more. Customers also have the option to sell or trade-in their vehicle across all Carvana locations, including its patented Car Vending Machines, in more than 300 U.S. markets. Carvana brings a continued focus on people-first values, industry-leading customer care, technology and innovation, and is the No. 2 automotive brand in the U.S., only behind Ford, on the Forbes 2022 Most Customer-Centric Companies List. Carvana is one of the four fastest companies to make the Fortune 500 and for more information, please visit www.carvana.com and follow us @Carvana.

Carvana also encourages investors to visit its Investor Relations website as financial and other company information is posted.

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Carvana Communications

press@carvana.com

Source: Carvana