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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 goal is to help you make better financial decisions by offering interactive tools and financial calculators that provide original and objective content. We also allow you to conduct your own research and examine information for no cost – so that you can make informed financial decisions. Bankrate has agreements with issuers including, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Profit The offers that appear on this site are from companies that compensate us. This compensation can affect the way and when products are featured on this website, for example such things as the sequence in which they be listed within the categories of listing, except where prohibited by law. Our mortgage, home equity and other home loan products. This compensation, however, does not influence the information we provide, or the reviews you see on this site. We do not contain the entire universe of businesses or financial offers that may be open to you.
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5 minutes read. Published in October 06, 2022.
Writen by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers with the ins and outs of securely borrowing money to purchase a car.
Edited by Rhys Subitch Edited by Auto loans editor
Rhys has been editing and writing for Bankrate since late 2021. They are dedicated to helping their readers feel confident to manage their finances with concise, well-researched, and well-organized facts that break down otherwise complex topics into manageable bites.
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The company is working to simplify the buying process for a used car by streamlining how you sell your car you’ve owned for years and how to sell it that is brand new to you. Since its inception at the end of 2012, the goal of Carvana is to allow users to obtain their next set of wheels by using its vending machines with the same ease you might expect when grabbing an ice cream bar. While putting the gimmick that comes with the gold coins and the vending machines aside, knowing if Carvana is the right choice for you requires you take a look at what aspect of car buying matters most to you. To find the most affordable price, understand the process all the way from researching to financing your vehicle to receiving the keys prior to heading to its online showroom. What can you expect when purchasing the car you want through Carvana the Carvana second-hand car purchase process prides itself on a smooth purchase, while encouraging personalization through its customer support. Carvana is currently fully online, with just 34 vending machines across the U.S. But, aside from its vending machines, the company also offers delivery. The goal of the company is « to ensure that you are provided with peace of assurance when purchasing your new ride. » The « about our company » section on the site declares that although Carvana sells cars, it does not have any salespeople for cars. This approach separates the company from traditional competitors that may put pressure on employees. Furthermore, it cuts out negotiation and face-to-face communication — ideal for those looking to buy and drive without all the additional hassle. How to buy the car using Carvana It is possible to go through the process of purchasing the vehicle with Carvana can be done entirely online, and according to the company’s support center — is accomplished in just a few steps. Prequalify for financing Before starting the process of purchasing a car it is recommended to apply for auto loan via Carvana -or at the very least, 2 other lending institutions. The process, which lasts less than five minutes according to Carvana, will give you the knowledge you need to know about . Prequalification is a key step to make. Simply fill out personal information such as contact information, employment status and annual income. If you are looking for a car with the amount you can truly be able to afford Now you can browse the 25,000 vehicles available- all inspected by both Carfax or AutoCheck. Go to the « find a car » tab on the site and you’ll be presented with available options in your area. Here you can also determine the cost you’d like to pay, the method you’d like to pay for it, make and model, year and mileage, body type and the features you’d like. If you’ve got a specific car in mind, you can search to see whether it is in your local area. Check out the car you like after deciding on the vehicle you’d like to have that will be parked until 30 minutes. You are able to explore the interior and exterior of the car by clicking the « get to work » tab. Here you can also get a better idea of the mileage, vehicle specifications, and the warranty available. All Carvana vehicles come with a seven-day money-back assurance, as well as a one-year warranty that is limited. Check your payment option. This page also provides the estimated cost for the car, both in »pay-once » as well as the « pay one time » or « pay monthly » approach. The « pay one time » price considers the entire initial cash price of the vehicle, including shipping. If you decide for financing, « pay monthly » will display your monthly costs dependent on your prequalification number. If you’re interested in financing, you can also explore this option here. Pick pickup or delivery once you’ve selected your vehicle and paid your payment, you are able to decide if you want the vehicle delivered directly to your door or if you want to pick it up at one of the 34 vending machine locations across the nation. If you are near a vending machine and select this option, you’ll be given a unique coin which when inserted will remove the vehicle from the car tower and transport it to the delivery area. Now you can drive away with your new vehicle. The pros and cons of Carvana If the goal is to avoid in-person negotiation and shopping Carvana can be a wish that many drivers can realize. But still, it is important to weigh the benefits and drawbacks of a fully remote transaction. The advantages of Carvana The most significant benefit of purchasing with Carvana is convenience. While the novelty of ordering your vehicle to your door is appealing, it is an ideal option for people who prefer to stay away from the typical car buying experience altogether. If you were to buy your vehicle at a traditional dealership you likely would do some research prior to the purchase on the internet, talk to a salesperson, walk around the showroom and then walk away with a vehicle or visit again later. If you buy with Carvana you are able to choose your vehicle early in the morning and be able to have your new set wheels by the time it gets dark. This is a huge attraction for many motorists who want to buy in the most straightforward way possible. The drawbacks of Carvana The main drawbacks that buyers may encounter boil down to the inability of getting an authentic feel for the car from just pictures. Although the warranty program states you can return the vehicle in case it’s not the right fit however, the process of returning it could be a hassle. In contrast to the dealership there is no way to be able to take the car to a test drive prior to signing off. Another factor that you cannot discern from images alone is any exterior damage or how certain features work for you. While Carvana vehicles do undergo a 150-point inspection however, it is impossible to have a complete understanding of an automobile unless you’re present in person. Reviews of Carvana The reviews that are posted directly on the Carvana website are mostly positive, featuring a score at 4.7 out of 5. Many reviews are focused on the « smooth and easy » process. Other reviews praise the wide range of car costs and the speedy loan preapproval. This is in line with what Carvana takes pride in and remains the primary attraction for many drivers. Outside of the Carvana universe, there are drivers who have had a negative purchasing experience. Reviews on Trustpilot have an average 3.7 score, lower than the Carvana internal scores. Some examples of common complaints include drivers having drive over 50 miles just to collect their cars and unhelpful customer service reps. How to ensure you get the most efficient vehicle using Carvana As with any vehicle purchase, the most important thing to getting the most efficient vehicle experience is to do your doing your research. Be patient when shopping and comparing different vehicles. Pay attention to specific elements like MPG, and other technological features, and look out reviews from other vehicles. In the 7-day time frame following getting your car it is recommended to take the car to get inspected by mechanics. This way, you can avail the Carvana return policy if you feel the car isn’t as perfect. Should I purchase my next vehicle from Carvana? The main point is this: If the thought of an auto dealer is stressful, then avoid it and go for the contactless option which will leave you with a brand new set of wheels. But if you prefer the adrenaline rush that comes with the most lucrative deal and need to sit in the driver’s seat to determine whether the car is the perfect choice for you, then Carvana might not be right for you.
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Authored by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the ins and outs of securely borrowing money to purchase the car they want.
Edited by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since the end of 2021. They are passionate about helping readers gain confidence to manage their finances through providing precise, well-researched and well-written information that breaks down complicated topics into bite-sized pieces.
Auto loans editor
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