Buying a Used Car From Carvana

Vehicles are seen on a display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Brandon Bell/Getty Images

From August 2019 to August 2022, used-car prices increased by 52 percent, while new cars increased by 29 percent. And with soaring interest rates, it was challenging for many Americans to afford a new, let alone a used vehicle. Looking for options to buy a car became vital.

Founded in 2012 and based in Arizona, Carvana offers an innovative and convenient way to purchase a vehicle. But how does Carvana work, and can you save money buying a used car?

How Carvana Works

Seventy percent of cars sold in the United States are used, and buying one can be nerve-wracking. Going to a high-pressure dealership or used car lot is intimidating for some people. That’s where Carvana comes into play.