Carvana has added a co-signing option for Orlando residents interested in using their online service to buy and sell vehicles.
The company, which was founded in Phoenix in 2012, announced the addition of a co-signing feature through a press release, saying the new feature will enable qualified residents to receive more access to financial offers, including lower down payments, interest rates, and monthly payments.
Customers can include the co-signer’s information when applying for financing through Carvana’s website, according to the company. If eligible customers move forward with a co-signer, the company says it collects driver’s licenses and other documents from both individuals and schedules a delivery where both individuals must be present to examine the new vehicle.
“As we continue our work to improve and modernize the automotive experience for people, this feature provides the opportunity to qualify for lower payments, lower interest rates, or less cash upfront which helps in this economy,” said Carvana founder and CEO Ernie Garcia.
According to the press release, Carvana is now the second largest, used automotive retailer in the U.S. The retailer currently boasts an inventory of more than 75,000 vehicles.