Last Updated: 04/18/2025
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Highlights
Amount Range
$6,900 - $125,000
APR (Fixed APR)
3.96% - 16.92%(Verified 06/21/2024)
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Credit Score Range
580 - 850
Loan Term (Months)
12 - 72
Carvana Auto Loan Review
Carvana Auto Loan is offered by Carvana, a direct lender founded in 0 and based in Tempe, AZ. Carvana financing are available in 50 states and Washington, DC.
Carvana financing FAQ
How much can you borrow via Carvana financing?
Carvana financing loan amounts start at $6,900 and go up to $125,000.
What APR does Carvana financing offer on its car loans?
Carvana financing offers a fixed apr car loan product that ranges from 3.96% APR up to 16.92% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
What is the maximum auto loan term you can get with Carvana financing?
Carvana financing has car loans with terms ranging from 12 to 72 months. Having the option of longer terms -- terms can range up to 144 months -- allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.
Does Carvana financing charge an origination fee?
Yes, Carvana financing may charge a loan origination fee .
Does Carvana financing charge a late fee?
Yes, Carvana financing charges borrowers with a late payment penatly fee
Does Carvana financing charge prepayment fees?
No, Carvana financing will not charge you a fee for paying your loan early. Whenever possible choose lenders like Carvana financing that don't charge a prepayment fee. These fees can reduce or even cancel the interest savings of repaying a loan early.
Can I pay off early my Carvana financing loan?
Yes, you can. Carvana financing does not charge a prepayment fee, so you can save money by paying your car loan early.
What do you need to qualify for Carvana Auto Loan?
Applicants with a credit score of at least 580 and up to 850 may be eligible for Carvana Auto Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Carvana Auto Loan does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Carvana Auto Loan.
To qualify, applicants may need to provide the following documentation:
- Loan payoff statements
- Proof of income
- Business formation documents
- Proof of insurance
- Driver's license or other government photo ID
- Government issued photo ID
- Proof of identity
- Proof of citizenship or residence permit
What is the estimated funding time for a car loan via Carvana financing?
Carvana financing will typically fund the car loan within 2 business days of approval.Does Carvana Auto Loan report your account activity to credit bureaus?
Yes, Carvana Auto Loan reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Carvana perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. Carvana financing allows you to check your rates with a soft credit pull.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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