Is Carvana a good lender to work with?

I test drove a certified pre-owned vehicle at a car dealership and loved it. I found the same vehicle on Carvana for $2,000 less, so I'm thinking of pulling the trigger. The only problem is that Carvana has a much higher interest rate than the dealership. Is Carvana a good dealer to work with? Or should I look elsewhere?

Answer
Carvana has a network of lenders that it works with to find you the best rate possible. However, that doesn’t necessarily mean it’s the best rate you’ll find anywhere.
Dealerships and other lenders may offer more competitive rates. In your case, it may be better to find financing on your own and use it to pay for the vehicle from Carvana.
If you shop around just like you would with car insurance, you can find the best interest rate possible and still get a cheaper price.
Don’t forget that when you buy a new vehicle, you will need proper coverage. If you haven’t already found insurance, use the free Jerry app to help you find the best deal. Jerry compares rates from the top 50 companies in under a minute, delivering the best deals to your phone.”
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Eric Schad
Answered on Aug 02, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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