In the last 50 years, nearly everything about the automobile has changed. Automakers are as focused on connectivity and efficiency today as they are on performance and comfort, and the industry shows no signs of slowing. That said, the art of actually buying a car is pretty similar to how it’s always been — you go to a dealership, pick the ride you like, haggle over prices, sign some papers, and you’re on your way.
Carvana, a technology start-up based in Arizona, launched in 2013 to make the process simpler. The world’s first online auto retailer, the brand allows prospective buyers to research, inspect, finance, and purchase vehicles from the comfort of their homes, and late last year, it expanded its portfolio by opening the world’s first automated, coin-operated car vending machine in Tennessee. Now, the company is turning its focus toward vehicle valuation.
Carvana has officially announced Cardian Angel, an online tool that provides personalized vehicle appraisals to customers in less than two minutes. To start, interested parties log on to www.CardianAngel.com and enter their car’s VIN, then answer some questions about its history. After that, the group’s proprietary algorithms go to work, confirming vehicle details through wholesale and retail value databases to generate an exact trade-in amount. From there, customers receive a personalized video to help them visualize the data, with a focus on explaining exactly why the car carries the value that it does.
“Knowing what your car is worth and, even more importantly, the reasons why it’s worth that much, is an incredibly empowering piece of knowledge to possess,” said Ernie Garcia, CEO of Carvana. “To date, consumers have had to go through an opaque dealership-driven process that leaves them feeling less informed about the true value of their car. Carvana’s mission is to create a better car buying and car selling experience, and we are excited to launch a vehicle valuation tool that, for the first time ever, is efficient and simple to use, fun and engaging and, best of all, fully transparent.”
Buyers can opt to use their trade-in value as a down payment on Carvana.com, sell the car to Carvana, or simply use the information to become better educated when it’s time to try something new.