Reminder: Carvana Sells Debt, Not Cars
Imagine this: You purchase a new-to-you car online. All the financing and paperwork is initiated after you select your vehicle and delivery date. You don’t have to set foot inside a dealership or talk to another human being.
Your delivery date arrives, and you receive an alert that a Carvana delivery driver will be bringing your car to your home. A friendly delivery person meets you in your driveway and has you sign for your car and offers you a test drive before confirming your purchase. Inside the car, you find some free Carvana schwag came with your purchase — awesome.
You’re also given the option to pick up your new vehicle if you live near one of Carvana’s over 20 vending machines (they just opened their 20th in Los Angeles last August). In this case, you see your destination long before you arrive — a gleaming, eight-story “vending machine” holding cars, including the one you just purchased.
When you arrive, a “customer advocate” greets you and you’re given a large token to deposit in a prominently featured slot. The token sets off a Rube Goldberg-type process, the end result of which is your newly purchased car being presented to you on an automotive catwalk of sorts before being moved into a position where you can then drive it home.
