Carvana (NYSE: CVNA) the industry pioneer for buying and selling used cars online, makes its vehicle financing qualification process even easier by offering Birmingham residents the ability to add a co-signer to buy the vehicle they love. By sharing responsibility for the vehicle loan, Carvana customers in Birmingham who qualify may unlock more attractive financing offers, including lower down payments, lower interest rates, or lower monthly payments.
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 on 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.”
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 careers. 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 Birmingham 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 as the fastest-growing used auto retailer in U.S. history 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.