(iSeeCars) – If you’re looking for a new car, you might be wondering what you should do with your old one. Just as there are many places to buy a car, there are also many places where you can sell one. Or, you can even handle the process yourself and do a private sale.
If you’re looking for a convenient and hassle-free way to sell your vehicle, you should consider online retailer Carvana. Although selling a car in Carvana is convenient, is it a good idea? And how is it possible to sell your car without leaving home? We answer these important questions and more.
What is Carvana?
While many car dealerships have shifted to an online sales model in response to the pandemic, Carvana has actually been selling cars online since 2013. The Carvana car buying experience allows customers to manage every step of the process Completely online car buying, including purchase, financing, and trade-in. Carvana will even deliver the vehicle right to your door for free if you live in one of their local markets. Otherwise, you can pay a delivery charge or pick up your car from one of their famous vending machines at a location that suits you best. Carvana has an extensive inventory of over 15,000 vehicles, all of which have undergone a 150-point inspection process. A potential downside is that Carvana doesn’t have a physical location, so you can’t test drive their vehicles before buying them. But car buyers will have seven days after buying the car to try it out in their everyday environment, and Carvana offers a seven-day money-back guarantee in case you decide not to keep the vehicle. All advertised prices are final, as Carvana offers no-haggle prices. More information on How Carvana works can be found here.
Will Carvana buy a used car?
According to The Carvana website, they’ll buy any car as long as it’s newer than 1992, safe to test drive, and has a working odometer.
How do I sell my car in Carvana?
If you’ve never traded in a vehicle, you may not understand the process and how the the car exchange process works. Or, you might wonder how the process at Cavana differs from your local dealer. Here are the three basic steps to selling your car to Carvana:
Step 1: Do your research
Before selling your car to Carvana, you should always do your research. You can refer to useful online tools to help you estimate your car’s trade-in value, including iSeeCars Price my car tool, Kelley Blue Book (KBB) or Edmunds. Understanding these prices can give you a starting point and help you understand how much is your car worth.
Step 2: Get your instant offer
Make sure you have your vehicle’s VIN or license plate number handy and go to Sell your car page on the Carvana website. Then you can start the process to get an instant offer from Carvana in less than two minutes. In fact, we did it ourselves using a stopwatch and clocked in at an impressive 1 minute 32 seconds.
The process is simple! After entering your VIN or license plate number, you will likely be prompted to enter other information about your vehicle’s finish. It will then ask you to select one of the following options: “sell” if you want to sell your vehicle, “trade in” if you are considering buying another vehicle from Carvana, or “not sure” if you want to see what your offer is and decide later.
You will need to answer a few identification questions and confirm your car’s details, including mileage, color, engine, and transmission, and then you will be prompted to answer more questions about vehicle features. Finally, you will need to answer questions about the condition of your vehicle, such as if there are any scratches or dents, if there has been an accident, or if there is damage to the vehicle. It will also ask you if there is a loan on your vehicle or if it is leased. In this case, you will need to enter your loan or lease information. If you have a loan, be sure to have your loan company, remaining balance, and monthly payment information handy; and if you rent, you will need to know your rental company, the amount of the gain and the monthly payment.
When you have answered all the necessary questions, enter your email address and select “receive your offer”. It will calculate for about 30 seconds, then your offer will appear. Or, if he is unable to make you an instant offer, he will let you know that the offer is pending and you will receive it the next day. Remember, there is no haggling and this offer is final. Once you have completed the necessary information, a Carvana representative will contact you within three business days.
Step 3: Complete the transaction
The next step depends on whether you are selling your car or trading it in.
Sale
If you decide to sell your car to Carvana without buying one from the retailer, they will ask you to upload a photo of your odometer, photo of the vehicle title, and photo ID such as a driver’s license . It will also ask you how you would like to be paid, which includes three options: a physical printed check, a direct deposit to your checking account, or an instant payment to your debit card.
Then make an appointment for Carvana to pick up your vehicle.
When Carvana picks up the car, they will go through a checklist to make sure the vehicle is as you described it. Then they will give you your check on the spot or process the payment on your account.
Exchange
If you decide to exchange your vehicle and buy one from Carvana, you will apply your exchange to the purchase of your vehicle.
Your vehicle will then be collected when your new vehicle is delivered, or if you collect your vehicle from a vending machine, you will drop it off there. Your car will then be inspected to ensure it matches your description. Carvana will keep your car during your seven-day trial period in case you decide not to keep your new vehicle.
Will Carvana make me the best offer?
Just like you would when buying a car, it’s always a good idea to shop around. Keep in mind that your offer from Carvana is valid for seven days, giving you time to see if you can get a better deal elsewhere. Be sure to get pricing from other dealerships such as CarMax or other local dealerships. (Be sure to refer to this article which details the process of sell a car to Carmax.) If you’re buying a car from Carvana, it can be tempting to buy and sell in the same place, but it might be worth it if you can get a better deal from another retailer. Plus, Carvana’s offer is no-haggle, while you might be able to bargain with other dealerships.
However, selling a car through Carvana or any used retailer will not make you as much money as doing a private sale through iSeeCars.com, Craigslist or Autotrader. However, Carvana offers a more convenient selling experience, especially because it will save you from having to advertise the car and coordinate presentations. Carvana will also take care of all registration documents and information, while private sellers will have to go to the dreaded RMV.
Conclusion
Carvana offers an easy way to sell your car rather than selling it privately or to another dealership. Unlike CarMax or other used car dealerships, you can complete the entire transaction without leaving your home. However, this convenience can come at a cost. Although Carvana offers competitive prices for your used car, you might find a better deal at another car dealership or make even more money with a private sale.
If you’re interested in buying or selling a car online, be sure to check out our articles on other online retailers, including CarMax versus Carvana and Carvana vs. VROOM to help you choose the used vehicle retailer that’s right for you.
Even if you’re not convinced that buying cars online is for you, it doesn’t hurt to at least get your offer from Carvana if you sell your vehicle. After all, it only takes two minutes!
More on iSeeCars.com:
If you’re interested in a new car or a used car, be sure to check out iSeeCars’ award-winning products. car search engine. It uses advanced algorithms to help buyers find the best car deals on all vehicle types and provides key information and valuable resources, like iSeeCars free VIN decoder and Best cars rankings. Filter by make, model, price and special features to find the best deal on your next vehicle.
This article, How to sell your car in Carvana, originally appeared on iSeeCars.com.
