Carvana is an American business that deals in used cars. The startup company is eyeing a big chunk of the US used car market by making the whole process of buying a used car web-based and more hassle free. To facilitate this, the company is bringing the entire process of of buying a used car online. The startup has raised close to $160 million (more than INR 1000 crore) very recently to expand its business. And the company is using this shiny vending machine depicted in the picture to deliver the car to customers who have made a purchase online. Allow us to explain in detail.
Here’s how it works – you choose a car from the company’ website, which has more than 5,000 options available. You put your money down, which Carvana claims would be less than anywhere else. The ‘paperwork’ related to the deal happens online almost entirely. So once the deal is done, you have the choice of either picking the car through one of the vending machines we talked about, or have it delivered right at your doorstep.
The Vending machine is essentially a huge glass building which would dispense the car you have bought once you insert the token. The car would be pre-loaded in the vending machine by the company a couple of days in advance before the date you have chosen to pick it up. Carvana opened its first dispenser unit in Nashville last year and plans to open more such vending machines soon.
Now, from a practical standpoint, such vending machines may sound a bit frivolous, and they are, to an extent. However, over a longer term, according to Carvana, these units would help them save money by automating the process and not having to spend on paying drivers who deliver the cars.
A useful innovation or just another gimmick? Do let us know your thoughts via the comments section below or through one of our social channels. Check out the video below