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Living in one of the most vibrant cities in the world, New York, as a resident I can get practically anything delivered to my house at any point in time. Pet food, liquor, warm cookies, you name it. It’s all one phone call away. What I didn’t know, however, is that the long list of delivery options in my area included a service that delivers cars. Thats right: cars, thanks to Carvana. I come from the generation that had to disconnect the phone line in order to get on the web with dial-up internet – fast forward a mere 20 years, I can buy a car online and have it delivered like a pizza pie. That is nothing short of fascinating.
Carvana is an online portal where you can buy or finance a certified used-car from the comfort of your couch. The car can either be delivered to you or you can pick it up from a vending machine. Yes, you read that correctly. It’s perfect for people who want to bypass the negotiation process at a dealership, people with low credit scores, and potential shoppers who want to see the available rates with only a soft credit check.
Carvana essentially simplifies the car buying process as much as it can possibly be simplified. All you have to do is find the car and price you like on their site, fill out an application, and once approved the car will either be delivered to you or you can pick it up locally. You also have the option to trade in an existing vehicle through their seamless appraisal process. What about a test drive? Right – Carvana figured that out, too. You have 7 days to test and drive the car around whether you pick it up or if it’s delivered. Carvana delivers its vehicles for free in most cities or for a fee, which depends on your location. You can also pick up your car from a Carvana “vending machine.” If you fly to a pickup city, Carvana will subsidize up to $200 of your airfare, and pick you up from the airport.
APPLYING TO CARVANA:
- No hard credit inquiry required for pre-qualification
- Decision for pre-qualification within minutes; more information and hard pull required for final approval
- No application fee or prepayment penalty; may charge late fees
- Carvana does not allow co-buyers
- Financing only available for Carvana vehicles
- Applicant must be at least 18 years old
- No current bankruptcies
- Minimum income: $10,000/year
- Maximum loan term: 72 months (NerdWallet doesn’t recommend loans longer than 36 months for used cars and 60 months for new cars)
- Cars delivered in 48 states to date; Carvana will deliver to Alaska and Hawaii, though delivery fees will likely be prohibitively expensive
Now that you have a car, are you ready for a roadtrip?