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Costs
Variable delivery costs
Regular Annual Percentage Rate (APR)
3.90% to 27.90% APR
Costs
Variable delivery costs
Regular Annual Percentage Rate (APR)
3.90% to 27.90% APR
Details
Regular Annual Percentage Rate (APR)
3.90% to 27.90% APR
Costs
Variable delivery costs
Advantages and disadvantages
Strong points
Insider Featured Auto Loans
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Automatic loan
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Automatic refinancing
Advantages and disadvantages of Carvana auto loans
Carvana is best for borrowers who want to find a used vehicle from the comfort of their own home. The company offers an easy-to-navigate tool to find the car you’re looking for, at the price you can afford. Additionally, borrowers will not need to meet a minimum credit score to qualify.
However, if you want financing for anything other than a used car, you won’t be able to get it from Carvana. You can find other great companies in our guide to the best auto loans. You will also only be able to use the loan offer you receive for a car from Carvana.
Comparison of Carvana car loans
How Carvana Compares
Editor’s Note
Regular Annual Percentage Rate (APR)
3.90% to 27.90% APR
Editor’s Note
Regular Annual Percentage Rate (APR)
Starts at 3.50% APR
Editor’s Note
Regular Annual Percentage Rate (APR)
From Concessionaire: Starts at 5.24%, From Private Party: Starts at 7.39%, Lease Buyout: Starts at 5.24%, Starts at 5.39%
Chase and PNC have undisclosed minimum credit scores to apply, while Carvana does not have a set minimum score that she considers. It can still be worth applying with Carvana even if your score is low.
PNC allows you to finance new and used cars, refinance your loan or buy out your lease. You can’t buy out your lease or refinance with Chase, and you can only get a used car with Carvana.
See our auto loan scoring methodology »
Frequently Asked Questions
Carvana currently does not have a rating from the Better Business Bureau as it updates its business profile. The BBB is a non-profit organization focused on consumer protection and trust. It rates companies by looking at their response to consumer complaints, honesty in advertising, and transparency in business practices.
The company was at the center of a controversy in which it allegedly sold cars to customers without giving them the vehicle titles. A lawsuit filed against the Carvana claimed it failed to register the cars in a timely manner, sometimes for more than two years. At times, the lender had its license suspended in several states, including Michigan and Illinois.
Carvana’s murky history and lack of BBB ratings may cause you to reconsider the lender. There are other lenders with no history of controversy that you may want to consider instead.
Carvana may actually be a slightly easier lender to qualify than most. That’s because it doesn’t require a minimum credit score to apply – many other lenders do.
Carvana’s top rate is quite high compared to other car lenders. However, if you have excellent credit, you may be able to qualify for its lowest rates, which are very competitive.
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