NADAguides vs Carvana
Carvana is a buyer-focused company that sells used cars online. Here, users can perform different types of searches and apply filters such as price, brand, MPG, etc. At the same time, NADAGuides has a long history of providing vehicle pricing information around Cars, Motorcycles, Powersports, RVs, and Boats. Learn more below.
National Appraisal Guides (NADAguides)
When we attempt to value a used vehicle we use a number of data points. These data points include, but are not limited to, actual wholesale transactions (around 80% of the market with our relationship with NAAA) and retail transactions (through our relationship with J.D. Power and its PIN data), as well as asking price information from www.autotrader.com. In addition, we have data from various OEMs and wholesalers and retailers of used vehicles that provide us the amounts for which they paid and sold their vehicles. We also take into consideration MSRP, invoice, equipment assumptions, as well as supply and demand and other macro- and micro-economic factors and the competitive landscape of vehicles. Our retail value is what a person could reasonably pay for a vehicle at a dealer’s lot. Our values are designed and intended to assist users in performing their own valuation of a particular used vehicle. The process by which users of NADAguides determine valuation is inherently subjective. Individual vehicles may have an actual value that is higher or lower than the estimated values created by us.
NADA has been around for over 80 years and is the premier valuation guide in the used vehicle industry. Customers include, but are not limited to: dealers, wholesalers, rental car companies, insurance companies, lending institutions, OEMs, government agencies, as well as individual consumers. We attempt to create the most accurate, market-reflective, unbiased vehicle values and we believe we do so each and every time one of our products is presented to the outside world.
NADAguides is additionally known as a credible source for pricing outside of the automobile industry. Comprehensive pricing data is also published for powersports, recreational vehicles, boats and manufactured housing.
Carvana sells used cars exclusively online. Buyers manage the entire process from selection through delivery digitally. Users can search vehicles by make, model, or keyword along with lifestyles such as commuting or luxury. They can then filter it by price, brand, fuel efficiency, or other options. The website provides a 360-degree view of the selection. Each vehicle has an extensive gallery of images too.
Potential buyers can see highlights of their choice along with a complete list of specs and features. They can also view the results of the 150-point inspection that all cars receive before going on sale. They learn upfront about the details such as interior imperfections before they purchase. The site provides pictures of any damage or wears with close-ups of anything Carvana’s team has identified.
Users can also enter information regarding a down payment or trade-in to get an accurate price and loan cost. There are dropdown boxes for the length of the loan, credit score, and annual income. They can get pre-qualified in minutes. A buyer can pay for the car with cash too. While there are the usual taxes and title costs, there are no dealer fees since the company eliminates the middleman in the deal.
Carvana offers two additional protection plans in addition to its 100-day limited warranty. The extended CarvanaCare covers the powertrain and provides roadside assistance. Neither will include the typical wear and tear of a vehicle nor accident damage. The company also has gap coverage. Each listing provides the accident history in the highlights.
Caravana takes the online concept to the max with an option to have the vehicle delivered to the buyer’s home. Alternatively, they can pick it up at one of the company’s 18 car vending machines located across the country. The individual can fly one-way to the one of their choice and receive white-glove service to the site. They will even reimburse the buyer up to $200 for their flight.
The founders of the company established it in 2013. Carvana went public in 2017, and has capitalized on this investment. Its annual revenue nearly doubled in 2018.