The hunt to find a high-quality used car can be stressful, but with the new online options, it could be a lot easier. One of the most popular ways to buy a car online is through Carvana. Should you be buying a car from Carvana?
It’s simple to buy online through Carvana, and you have access to a ton of vehicles. Plus, you gain access to superior financing offers and an exceptional return policy. On the other hand, you don’t get to see the vehicle in person or take it for a test drive.
In this guide, I review the pros and cons in-depth, helping you decide if this is the right path for your used car needs. I will also discuss how to buy a car from Carvana.
Pros of Buying a Car from Carvana
1. Quick Process
There are few websites as streamlined as Carvana’s. In just a few minutes’ time, you can find your dream car, purchase it, receive the latest financing offers, or get a trade-in value on your existing vehicle.
How long does it take you to do these things at a traditional dealership? If you are lucky, you might spend as little as two hours at the dealership, but that’s unlikely.
2. Great Prices
The online model helps Carvana keep the prices low. With less overhead, you can take advantage of super discounts.
On most vehicles, you will see the prices are a few hundred dollars below anywhere else for a comparable model. With only 28 locations to staff and about a third of the employees of a traditional dealership, Carvana is able to pass on the savings to you.
3. Exceptional Financing Rates
In just two minutes, you can pre-qualify for the latest financing offers through Carvana, and it only requires a soft credit check. The terms are competitive, ensuring you save even more money.
You can discuss the options with someone from the Carvana team if you need support. It’s also possible to get your own financing if you prefer.
4. Highly-Rated Customer Service Team
If you read online reviews about Carvana, you see how highly people think of the customer service team. It’s simple to get a hold of someone when you need help.
Plus, the staff is always willing to go above and beyond to serve you. Above all, they are caring and truly listen to your concerns.
5. Return Policy & Warranty
Carvana extends a seven-day return policy with no questions asked. They even come to pick the car back up.
Carvana also provides a 100-day/4,189-mile warranty. The warranty even covers cosmetic concerns on top of the typical mechanical components.
Cons of Buying a Car from Carvana
1. Poor Trade-in Deals
The downside of buying cars that are cheaper is that you won’t get as much for the car you turn in. In fact, Carvana tends to offer about 25% or less of the Edmunds True Market Value, while most dealers offer 40-60%.
If you want to buy from Carvana, it’s best to sell your car elsewhere. I recommend using Carmax, or to trying to sell it yourself.
2. Can’t Inspect Cars Physically
The Carvana Certified Program includes a 150-point inspection, which is supposed to ensure everything is in good condition. However, the company doesn’t spend a lot of time on this inspection.
A real mechanical inspection would take several hours. That’s why some cars show up with defective parts, body scratches, and other imperfections.
3. No Test Drives
It’s hard to pick a car simply by looking at online pictures. You want to get behind the wheel and see how the vehicle feels.
Without the ability to take a test drive, you can’t see how the vehicle feels. However, the company does give you seven days to return it, which could be seen as a test drive, except you have to pay for the vehicle first.
4. Lack of Charitable Giving
Carvana brings in about $5 billion in revenue each year. With that said, the company does very little charitable work.
For an organization of this size, one would expect to see much more happening to help people and communities. This is a huge downfall if you want to support companies that give back.
How Carvana Works
It isn’t difficult to buy a vehicle from Carvana. Here are some simple tips to get you started.
- Head to Carvana’s website.
- Click “Search Cars.”
- You can browse the cars and filter by various options.
- Look through the pictures and descriptions of cars until you find what you want.
- Choose “Delivery & Pickup Options” to determine how you will get the vehicle.
- When you click “Get Started,” you will begin buying the vehicle.
- Apply for financing and get a quick offer back.
- The vehicle will be delivered to you free of charge if you live in a qualifying area. There could be some charges otherwise.
- You can also pick up the vehicle if you prefer.
It doesn’t get much easier than that to buy a car through Carvana. Is this a good option for you? Let’s take a look.
Should You Buy a Car from Carvana?
Go ahead and buy from Carvana if you are looking for a simple online process and you don’t mind missing the in-person effect. Carvana is also good if you have already done the research and know what you want. You’ll get the best price possible from Carvana and you have a 7-day return policy to take advantage of.
Don’t buy a car from Carvana if you aren’t sure what you want. It’s important to do your research first before shopping online. You also want to avoid Carvana if you are buying a higher-priced car. Putting out $30k on a car you haven’t seen can be a little troublesome.