Is Carvana a reputable company to finance with?

I was shopping for a car and found that Carvana gave the best price. However, I need a car loan to purchase the vehicle. Carvana offers financing, but are they a reputable company for car financing?

Answer
“Carvana has its own financing department and its rates are comparable with what you’d find at a bank or other lender. The only thing you really have to do is qualify.
To qualify for Carvana financing, you have to:
  • be 18 years old.
  • make at least $4,000 per year.
  • have no active bankruptcies.
Keep in mind that they’ll check your credit, so you may want to hop on Credit Karma to make sure you don’t have any surprises.
When you’re shopping for cars, also keep in mind that lenders require higher coverage for financed vehicles. You’ll want insurance before signing on your car loan.
Just like you’re shopping for the best car loan rates, you also want to shop for the best insurance rates. Try using the free Jerry app to make comparison shopping easy. Jerry compares quotes from the top 50 providers and delivers the best deals to your phone in minutes.”
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Eric Schad
Answered on Aug 10, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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