Carvana Named Best Lender For Buying A Car Online

CNBC Select Chooses Carvana For Its Top Award

Due To The Company’s Consumer-Friendly Terms and Approach

PHOENIX--(BUSINESS WIRE)--Carvana, the industry pioneer for buying and selling used cars online, was recently named by CNBC Select as the best lender for buying a car online. CNBC Select evaluated companies based on credit requirements, repayment terms, prequalification window and other factors.

“At a time where every little bit counts, we want to give customers an array of tools, terms and capabilities to help them find the right car at the right price and we are extremely proud to have been selected as the best in the industry,” said Matt Dundas, Carvana’s Senior Director of Finance.

A study issued in 2023 by Cox Automotive found that more than 80% of shoppers believed that the car buying experience was improved by online activities overall. Furthermore, 78% of car shoppers believe an e-commerce approach provides greater pricing transparency. Now, as the company celebrates its 10th year of disrupting the auto industry, this recent recognition as the best place to finance a car online is reinforced by Carvana’s millions of satisfied customers.

About

Carvana (NYSE: CVNA) is an industry pioneer for buying and selling used vehicles online. As the fastest growing used automotive retailer in U.S. history, its proven, customer-first ecommerce model has positively impacted millions of people's lives through more convenient, accessible and transparent experiences. Carvana.com allows someone to purchase a vehicle from the comfort of their home, completing the entire process online, benefiting from a 7-day money back guarantee, home delivery, nationwide inventory selection and more. Customers also have the option to sell or trade-in their vehicle across all Carvana locations, including its patented Car Vending Machines, in more than 300 U.S. markets. Carvana brings a continued focus on people-first values, industry-leading customer care, technology and innovation, and is the No. 2 automotive brand in the U.S., only behind Ford, on the Forbes 2022 Most Customer-Centric Companies List. Carvana is one of the four fastest companies to make the Fortune 500 and for more information, please visit www.carvana.com and follow us @Carvana.

Carvana also encourages investors to visit its Investor Relations website as financial and other company information is posted.