Our rating is based on a combination of expert staff and user ratings.
- Good For Bad Credit
- Simple Buying Process
- No Hassle and No Negotiation
- No Flexibility in Price
Up to 72 Months
Carvana has a unique business model as an online used-car dealer that also allows you to finance your purchase as well. The entire process of choosing a used car and applying for an auto loan can be done on Carvana’s website. You can choose to have the car delivered or you can pick it up at a Carvana Vending Machine. If you fly in to pick the car up, Carvana will subsidize up to $200 of your airfare and will take you from the airport to the Vending Machine. You can only use Carvana’s financing services with Carvana vehicles.
If you have bad credit, Carvana could be the dealer you need to get a used car on a loan, since there is no minimum credit score. If you’re looking for convenience, Carvana’s delivery and pickup services are designed to keep things simple for customers. They offer delivery to 48 states and some urban areas have free delivery. Plus, the entire application process can be done online, with a soft credit pull for pre-qualification (although there will be a hard credit pull within the final steps of the loan process). Carvana does not disclose its APR range, but you can use their Auto Loan Calculator to get an idea of what your rate would be.
How to Qualify
You must be at least 18 years old to apply for an auto loan at Carvana. Carvana has no minimum credit score and the minimum income is only $10,000/year. Carvana does not allow co-buyers.
There is no application fee, but there is most likely a late fee.