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Carvana Adds Another Texas Store

Carvana Adds Another Texas Store Featured

Carvana announced the opening of another one of its proprietary automated Car Vending Machines in San Antonio, Texas.
This launch marks the third signature Car Vending Machine in Texas, joining Austin and Houston.
Standing eight stories tall, the glass tower matches its Houston counterpart in size.
The San Antonio Car Vending Machine contains four delivery bays and holds up to 30 cars. Vehicles that have been purchased from the company’s website are loaded into the tower in advance of the customer’s pick up date. Carvana customer advocates are available on-site for support and to help facilitate a personalized and memorable pick-up experience.
The San Antonio Car Vending Machine is located at 5435 N Loop 1604 W.

Last modified on Thursday, 16 March 2017 00:36
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    Used-car chain Carvana is seeing strong growth thanks in part to its unique marketing, but also because of an old-fashioned basic of the business – financing.

    The Phoenix-based company is most famous for its so-called vending machines, vertical structures that house cars and use an automated system to bring them down to buyers.

    The first vending machine debuted in Nashville in 2015. Carvan now operates four total and plans on adding more as it moves into new markets.

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    However, the facilities also represent a fairly large investment.

    “It is the most operationally and capital-intensive thing that we do,” Garcia said.

    “It means acquiring a vending machine site, going out and finding a location, negotiating a deal with the land owner, going through entitlements with the city, and getting approved, and then physically building the space itself.”

    As Carvana grows, Garcia said word of its unique process is spreading. In addition to the unusual delivery method in some markets, Carvana conducts almost all of its transactions online.

    Garcia said new markets that are in close proximity to existing markets ramp up faster than totally new markets.

    National advertising on cable networks will play a large part in creating   awareness of what the company does to make these fresh markets grow faster, Garcia said.

    He said cable advertising makes sense as the company grows larger and that broadcast advertising will follow as it expands even more.

    In the end, financing matters more to most car buyers more than a cool delivery gimmick like the vending machines or ads on TV.

    Carvana is doing very well in this area, financing approximately 70 percent of its customers.

    Mark Jenkins, Carvana’s chief financial officer, said technology helps there, as well.

    “I think (that is) a number that’s enabled by the technology that we’ve built to provide a very seamless experience to customers who could very easily fill out a credit application form on their phone or desktop, and select from a wide variety of financing options that we make available in a very transparent way,” Jenkins said.

     

     

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