Carvana offers a new way to buy a vehicle. The company cuts out the middlemen and dealerships, which translates to a huge savings for customers. Additionally, Carvana offers guarantees and takes trade-ins.
- No Middlemen or Dealerships
- Certified Vehicles
- Worry-Free Guarantee
- Get Prequalified in Two Minutes
- No Haggling Tool
No Middlemen or Dealerships
Buying a vehicle through Carvana will provide you with a new way to shop. Carvana cuts out the middlemen and dealerships, which means you won't have to pay any hefty dealer fees or sit around at a dealership for hours on end in order to receive financing.
Every vehicle Carvana sells comes with a "Carvana Certification," which means that the car has passed through a rigorous inspection and reconditioning process that includes a 150-point inspection, it has received an oil change, and it has gone through a premium detail.
All Carvana vehicles come with a worry-free guarantee. The company provides you with a free Experian Autocheck vehicle history report prior to purchase and guarantees your new car for 100 days or 4,189 miles, whichever comes first. Carvana also offers a no-questions-asked return policy that allows you to return the vehicle and terminate your contract for any reason with seven days of purchase.
Get Prequalified in Two Minutes
With Carvana, you can get prequalified online in two minutes with no hit to your credit score. You will then receive a real down payment and immediately know what your interest rate and terms will be.
No Haggling Tool
Carvana's "no haggling" tool enables you to shop for a vehicle on your own terms from the comfort of your home. You simply input every combination of what you want into the Finance Dials and Carvana will show you exactly what your interest rate, down payment options, monthly payment, and loan terms will be for the criteria you specified. For example, you could input that you want a payment under $400 on a 48-month term with no money down and the no haggling tool will do the rest.
- Limited Free Delivery Locations
- Restocking Fees
- No Credit Criteria Provided on Website
- Lack of Transparency
Limited Free Delivery Locations
Carvana only offers free vehicle delivery to consumers within a 100-mile radius of the following cities:
- San Antonio
Consumers who live outside of the free delivery area must contact Carvana to find out what the cost will be to deliver to their area.
Carvana doesn't charge any restocking fees if you live within 100 miles of one of its service areas. However, if you live outside of this radius or have exceeded 400 miles during the seven-day period, you will be charged additional fees.
No Credit Criteria Provided on Website
Unfortunately, it's unclear whether or not Carvana will accept marginal or bad credit applications. There are no credit requirements listed on the company's website.
Lack of Transparency
Carvana doesn't do the best job when it comes to being transparent on its website. For example, the company has not disclosed interest rates, terms, loan amounts, mileage limits, or whether or not it charges prepayment penalties.
The Bottom Line
Carvana offers two-minute pre-qualification, certified vehicles, and a worry-free guarantee. However, the company only offers free delivery to consumers who live in certain areas and is not entirely transparent on its corporate website.