Carvana Debuts New Co-Signer Financing for Texas Residents
August 10 2022 - 9:54AM
Business Wire
Customers in the Lone Star State Can Now Easily
Add a Co-signer When Financing with Carvana
Carvana (NYSE: CVNA), the industry pioneer for buying and
selling used cars online, makes its vehicle financing qualification
process even easier by offering Texas residents the ability to add
a co-signer to buy the vehicle they love. By sharing responsibility
for the vehicle loan, Carvana customers across Texas, including
Dallas, Houston, Austin and San Antonio, who qualify may unlock
more attractive financing offers, including lower down payments,
lower interest rates, or lower monthly payments.
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Carvana launches new online co-signer
financing for Texas residents. (Photo: Business Wire)
Adding a co-signer couldn’t be easier. Customers can simply
apply alongside their co-signer and include the co-signer’s
information on Carvana’s website or app. Customers will see their
financing terms—both with and without their co-signer—in a matter
of seconds with no impact to either individual’s credit score. If
eligible customers want to move forward with a co-signer, Carvana
collects driver’s licenses and other documents from both
individuals and schedules a delivery where both individuals must be
present to check out the new ride.
“Since day one, Carvana’s core values have guided our mission of
creating a better car buying and selling experience for people and
we’re thrilled to launch our co-signer offering during a time when
the opportunity to help customers is bigger than ever,” says Ernie
Garcia, Carvana founder and CEO. “As we continue our work to
improve and modernize the automotive experience for people, this
feature provides the opportunity to qualify for lower payments,
lower interest rates, or less cash upfront which helps in this
economy.”
Car shoppers continue to face high used vehicle prices, rising
interest rates, and other macroeconomic pressures. Carvana’s
co-signer option allows customers to apply for vehicle financing
with another individual—like a parent, child, partner or family
member—as an option to help unlock more attractive financing terms.
This benefit is ideal for new drivers or young adults, especially
those looking to build up their credit scores as fall semesters
begin or as they get started in their career. This offering also
benefits couples or family members looking to expand their
selection of affordable inventory, as well as anyone who wants the
best possible financing offer to purchase their next car. Carvana
co-signer financing is available to qualified Texas customers
before its official nationwide launch.
Carvana was named the No. 2 automotive brand in the U.S. as
designated by the Forbes 2022 Most Customer-Centric Companies List.
This recognition reinforces the company’s leadership, proving it
has successfully changed the way people buy – and sell – cars,
demonstrated by its industry-leading Net Promoter Score (NPS) and
4.7 out of 5 star customer experience rating average. Carvana
serves more than 80% of the U.S. population across more than 300
markets. With a continued focus on people-first values,
industry-leading customer care, technology and innovation, Carvana
has become the second largest used automotive retailer in the U.S.
and one of the fastest companies to debut on the Fortune 500.
About Carvana (NYSE: CVNA)
Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA)
mission is to change the way people buy and sell cars. With a
continued focus on its customers, technology and innovation,
Carvana offers an intuitive and convenient online car buying,
selling, and financing experience. Carvana.com enables customers to
quickly and easily shop more than 75,000 vehicles, finance, trade
in or sell their current vehicle to Carvana, sign contracts and
schedule delivery or pickup at one of its patented, automated Car
Vending Machines. Carvana is a Fortune 500 company, providing
as-soon-as-next-day delivery to customers in over 300 U.S.
markets.
For further information on Carvana, please visit
www.carvana.com, try our Online Chat, or connect with us on
Facebook, Instagram, Twitter, YouTube or the Carvana Blog.
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version on businesswire.com: https://www.businesswire.com/news/home/20220810005525/en/
MEDIA CONTACT: Carvana Communications Kristin Thwaites
press@carvana.com
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