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How to use Carvana to buy a car Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial choices by offering interactive financial calculators and tools that provide original and objective content, by enabling users to conduct research and compare information for free and help you make financial decisions with confidence. Bankrate has partnerships with issuers such as, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The deals that are advertised on this site are from companies who pay us. This compensation may impact how and where products appear on the site, such as, for example, the order in which they may appear within the listing categories in the event that they are not permitted by law. This applies to our mortgage, home equity and other products for home loans. This compensation, however, does affect the content we publish or the reviews that you see on this site. We do not include the universe of companies or financial offerings that could be accessible to you.
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5 minutes read. Published in October 06, 2022.
Authored by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers in navigating the details of taking out loans to buy a car.
Edited by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since the end of 2021. They are dedicated to helping their readers feel confident to take control of their finances with concise, well-researched, and well-organized facts that break down complicated subjects into digestible pieces.
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Carvana is working to improve the process of buying an old car by streamlining both the selling process for your current car and the one that’s new to you. Since its launch back in 2012, the aim of Carvana is to allow users to obtain their next set of wheels from its vending machines in the same way you would expect to get a candy bar. While putting the gimmick that comes with the gold coins and vending machines aside, knowing whether Carvana is right for you will require you to think about what aspects of car purchasing is most important to you. To get the best deal, understand the process all the way from research to vehicle financing to getting the keys before heading to the online showroom. What to expect when buying the car you want through Carvana the Carvana used car buying process prides itself on seamless purchase while still providing personalization with the customer service. Carvana currently operates fully online and has only 34 vending machines across the U.S. However, in addition to its vending machines, the company also offers delivery. The aim of Carvana is “to make sure that you have peace of mind with regards to the car you purchase.” In the “about us” section of the website declares that although Carvana sells cars, it does not have any salespeople for cars. This is a distinct approach to differentiate the company from competitors who could put pressure on the staff. Plus, it removes negotiation and face-to-face communication — perfect for those who are looking to buy and drive without all the added hassle. How to buy a car with Carvana It is possible to go through the process of buying an automobile using Carvana can be done entirely online, and according to the company’s customer support department — is done simply in only two steps. Prequalify for financing Before starting the car shopping process It is best to make an application for a car loan via Carvana -or at the very least, 2 other lending institutions. This process is less than five minutes, according to Carvana, will give you the knowledge you need to know about . Prequalification is an essential step to make. Fill in your personal details such as your contact details, employment status and annual income. If you are looking for a car with the price you can manage Now you can browse the 25,000 vehicles availablethat have been inspected by both Carfax as well as AutoCheck. Click on the “find the right car” tab on the site and you’ll be presented with a variety of choices in your region. There you can find out the exact price you’d like to pay, the method you’d like to pay for it for it, what model and make you want as well as the year and the amount of miles, the body type, and the features you’d like. If you’ve got a specific vehicle in mind you can look up the vehicle to determine whether it is in your area. Check out the car you like Once you have decided on the car you want to own, which will be held over 30 mins, you can virtually tour the exterior and interior of the vehicle by clicking on the “get to work” tab. This is where you will also be able to gain a better understanding of the vehicle’s mileage, specifications and available warranty. All Carvana cars include a 7-day money-back guarantee along with a 100-day warranty that is limited. Check your payment option. This page also provides the estimated cost for the vehicle in both,”pay once” and “pay monthly. “pay at once” or “pay monthly” approach. The “pay at once” price considers the entire up-front cash price for the vehicle, including shipping. If you decide financing the car, “pay monthly” will reveal your monthly price dependent on your prequalification number. If you are looking to look into this alternative here. Pick pickup or delivery once you’ve chosen your car and paid your payment, you are able to choose if you would like the car delivered straight to your doorstep or pick it up at any of 34 vending machines located across the nation. If you live near a vending machine and choose this option, you will be given a unique coin which when inserted will remove your vehicle off the tower and bring it to the delivery area. Then you are free to drive off with your brand new vehicle. The pros and pros and Carvana If the aim is to stay clear of in-person negotiations or shopping, Carvana could be the perfect dream come true for many drivers. But still, it is important to weigh the benefits and disadvantages of a completely remote procedure. Benefits of Carvana The most significant benefit of purchasing with Carvana is convenience. Since, yes, the idea of having your vehicle to your door is appealing, it is a great option for those who prefer to stay clear of the traditional car purchasing process altogether. If you bought your vehicle at an established dealership, you will conduct some research ahead of time on the internet, talk to the salesperson, wander around the showroom and then take home a vehicle or come back another day. If you decide to purchase through Carvana you can decide on your vehicle in the morning, and possibly be able to have your new set wheels before sunset that evening. This is a huge selling point for many drivers looking to purchase in the easiest way imaginable. The drawbacks of Carvana The most significant drawbacks customers might face result from the inability to get an authentic feel for the vehicle from pictures alone. Although the warranty program states you can return the vehicle if it is not the ideal fit however, the process of returning it can be frustrating. Contrary to what you can find on the lot it is not able to take the car for a drive before you sign off. Another factor that you cannot garner from photos alone is any exterior damage or the way certain features perform for you. Although Carvana vehicles are subject to an inspection that is 150 points long, you cannot have a complete understanding of the car without being in the car. Review of Carvana These reviews posted directly on Carvana’s website Carvana website are mostly positive, featuring a score of 4.7 out of 5. A majority of reviews praise the “smooth and effortless” process. Other reviews comment on the large range of vehicle prices available and quick loan preapproval. This reflects much of the things Carvana takes pride in and remains the most popular choice for many customers. Outside of the Carvana universe,, there are some drivers that had a more negative buying experience. Reviewers on Trustpilot are averaging 3.7 score, which is lower than Carvana’s internal score. Common complaints include drivers having commute over 50 miles to collect their cars and ineffective customer service representatives. What can you do to ensure that you get the most efficient vehicle using Carvana As with any vehicle purchase, the first step to ensuring you get the best vehicle experience is to do your doing your research. Take your time when shopping and comparing cars. Look out for specific factors such as MPG and the technology available, and then check for reviews from outside sources. During the seven-day period after getting your car, it is wise to take it to get inspected by an expert mechanic. This way, you’ll be able to avail the Carvana return policy in the event that the car isn’t as perfect. Do I want to purchase my next car from Carvana? The bottom line is this If the thought of a dealership brings stress, then avoid it and go for the non-contact option that will leave you with a brand-new set of wheels. However, if you’re more interested in the thrill that comes with the best deal and want to be on the road to determine whether the car is the perfect fit then Carvana might not be the best choice for you.
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Authored by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers with the ways and pitfalls of using loans to buy a car.
The edit was done by Rhys Subitch Edited by Auto loans editor
Rhys has been editing and writing for Bankrate since the end of 2021. They are passionate about helping readers gain the confidence to take control of their finances through providing clear, well-researched facts that break down complicated topics into bite-sized pieces.
Auto loans editor
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