SPRINGFIELD, Ill. – New Illinois Secretary of State Alexi Giannoulias says online car retailer Carvana admitted wrongdoing in reaching a settlement with the state.
Back last May, after a year-long investigation, the Secretary of State’s police suspended Carvana’s dealer license.
“Carvana had been illegally issuing out of state registration permits to Illinois vehicle owners, and it failed to transfer ownership titles in a timely manner — both violations of Illinois law,” said Giannoulias.
Giannoulias’ office says if the violations are committed again, the state will be able to suspend its dealer license again.
“As part of the agreement, Carvana admitted wrongdoing and acknowledged that it violated the state’s Vehicle Code,” said Giannoulias. “While the state will allow Carvana to continue to operate, this agreement gives my office the authority to suspend and revoke its dealership license again, if it fails to comply moving forward.”
Giannoulias says a $250,000 bond Carvana posted has also been given up.
And he says says you should call Secretary of State Police at (630) 693-0551 if you ever have problems with your vehicle’s title and registration.
The news comes a few weeks after Carvana laid off more workers on top of 4,000 it let go last year due to slumps in demand.
