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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 providing you with interactive financial calculators and tools that provide original and objective content. We also allow you to conduct research and compare information for free and help you 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 Make Money The offers that appear on this website are provided by companies that pay us. This compensation may impact how and where products appear on this website, for example, for example, the order in which they appear within the listing categories in the event that they are not permitted by law. This applies to our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not cover the entire universe of businesses or financial deals that may be accessible to you.
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5 minutes read. Published October 06, 2022
Written by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers to navigate the ins and outs of securely using loans to buy the car they want.
Editor: Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since the end of 2021. They are committed to helping readers feel confident to control their finances by providing clear, well-researched data that simplifies complicated topics into bite-sized pieces.
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The company is working to simplify the process of purchasing an used car by streamlining the process of selling your old car and one that’s new to you. Since its launch at the end of 2012, the goal of Carvana is to allow drivers to get their next vehicle by using its vending machines with the same ease you would expect to get the candy bar. While putting the gimmick associated with gold and the vending machine to one side, understanding if Carvana is the right choice for you requires you to consider what about car purchasing is most important to you. To get the best deal, understand the process all the way from research to financing your vehicle to receiving the keys before heading to its online showroom. What can you expect when purchasing a car using Carvana The Carvana used car buying process prides itself in a seamless process while offering a personal touch through its customer service. Carvana operates completely online, with just 34 vending machines across the U.S. But, aside from its vending machines, it also offers delivery. The company’s goal is “to make sure that you have peace of mind when it comes to the car you purchase.” Its “about our company” section on the site declares that although Carvana sells cars, it does not have car salespeople. This is a distinct approach to differentiate the company from competitors who could put pressure on the staff. Furthermore, it cuts out negotiation and face-to-face communication — ideal for those wanting to buy and drive their vehicle without any extra hassle. How to buy an automobile using Carvana This process for purchasing an automobile using Carvana is entirely online and — according to the company’s help desk — is done simply in only two steps. Prequalify for financing Before starting the car shopping process it is recommended to apply for auto loan via Carvana -or at the very least, two additional lenders. It lasts under five minutes according to Carvana it will give you an understanding of . Prequalification is a key step to make. Just fill in personal details such as your contact details along with your employment status as well as annual income. Shop for a vehicle With the amount you can truly afford in mind, you can now browse the 25,000 available vehicles -that have been inspected by both Carfax or AutoCheck. Go to the “find an automobile” tab on the site and you will be presented with available choices in your region. You can also find out the exact price you want to pay, the amount you’d like to pay for it the amount, make and model, year and mileage, body type and the features you’d like. If you have a specific car in mind, you can search to see if it is available in your local area. Check out the car you like Once you have decided on the vehicle you’d like to have and being held until 30 minutes. You are able to explore the exterior and interior of the car by clicking on the “get to work” tab. You can also gain a better understanding of the car’s miles, specifications and available warranty. All Carvana automobiles include a 7-day money-back guarantee along with a 100-day warranty that is limited. Verify your payment method This page also provides the expected cost for the vehicle in both, the “pay at once” or “pay monthly” approach. “Pay Once”: The “pay at once” price considers the entire upfront cash cost of the vehicle, which includes shipping. For those choosing financing the car, “pay monthly” will display your monthly costs based on your initial prequalification number. If you’re interested in financing, you can also explore this option here. Pick pickup or delivery once you have chosen your vehicle and made a payment, you will be able to decide if you want the vehicle delivered to your door or take it home at some of the 33 vending machine locations across the nation. If you live close to a vending machine and choose this option, you will receive a personalized coin that after inserting will retrieve it from the car tower and transport it to the drop-off point. Now you can drive away with your brand new vehicle. Pros and cons of Carvana If the aim is to not have to meet in person for negotiations and shopping Carvana could be the perfect dream that many drivers can realize. However, it’s essential to weigh the advantages and disadvantages of having a remote transaction. Advantages to Carvana The primary benefit of purchasing with Carvana is the convenience. Because, yes, while the idea of having your vehicle to your door is attractive, it’s an ideal option for people who want to steer away from the typical purchasing experience. If you bought your vehicle from a traditional dealership you likely would do some research prior to the purchase online, meet with a salesperson, walk through the parking lot, and possibly take home a vehicle or come back another day. If you purchase with Carvana you are able to choose your vehicle early in the morning, and possibly get your new set of wheels by sundown that night. This is an important attraction for many motorists seeking to purchase their vehicle with the simplest method possible. Drawbacks of Carvana The main drawbacks that customers might face are due to the inability of getting an authentic feel for the car based on pictures alone. Although the warranty program states you can return the vehicle if it is not the ideal fit, the return process could be a hassle. Unlike on the lot, you will not be able to take the car to a test drive prior to signing off. Another aspect you are unable to garner from photos by themselves is any damage to the exterior or the way certain features perform for you. Although Carvana vehicles do undergo an inspection that is 150 points long, you cannot get a perfect feel for a car unless you are present in person. Reviews of Carvana The reviews presented directly on the Carvana site are primarily positive, featuring a score that is 4.7 out of 5. A majority of reviews praise the “smooth and easy” process. Other reviews comment on the variety of vehicle prices and speedy loan preapproval. This is in line with the things Carvana is known for and remains the most popular choice for many customers. Beyond the Carvana universe, there are drivers who had a less positive purchase experience. Reviews on Trustpilot have an average 3.7 score, lower than Carvana’s internal score. Common complaints include drivers having to travel over 50 miles to get their cars and ineffective customer service representatives. What can you do to ensure that you get the perfect car with Carvana Similar to any other car purchase, the first step to getting the most efficient automobile experience is doing your research. Be patient when you shop and comparing the different available automobiles. Pay attention to specific elements such as MPG and the technological features, and look out for outside vehicle reviews. After seven days of buying your car is a good idea to take it to be inspected by an expert mechanic. In this way, you will be able to avail your Carvana return policy if you feel the car isn’t perfect. Do I want to purchase my next vehicle from Carvana? The main point is this If the thought of a dealership brings stress to you, then stay clear of it and choose the contactless approach that will just leave you with a new set of wheels. If you’re looking for the adrenaline rush which comes along with getting the most lucrative deal and need to sit in the driver’s seat to see whether it’s the best for you, then Carvana might not be the best choice for you.
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Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers to navigate 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 from late 2021. They are committed to helping readers gain the confidence to take control of their finances by providing clear, well-researched data that reduces otherwise complicated topics into bite-sized pieces.
Auto loans editor
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