What credit score do I need to get a car loan from Carvana?

"Will Carvana approve me for a loan if I have low credit? I was looking at Carvana for my next car, but I also heard they have excellent financing. However, my credit isn't great."

Answer provided by
avatar
Eric Schad
Answered on Jul 28, 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.
“Carvana is one of the rare lenders that doesn’t have a minimum credit score requirement.
They do have some requirements:
  • you have to make at least $833 a month
  • or you make $10,000 per year
  • you can’t be in bankruptcy
Keep in mind that credit score isn’t the only aspect that lenders take into account.
Lenders also look at:
  • your debt
  • debt-to-income ratio
  • the loan-to-value ratio
But since Carvana has no credit score requirement, and they’re a rare lender that only does a soft inquiry on your credit (meaning that it doesn’t hurt your credit score), applying is a smart move. Tools like Credit Karma help you monitor your score as you make moves to grow.”
thumb-up

Did this answer help you?

Ask us a question by email and we will respond within a few days.
thumb-up

Have a different question?

You can meet us at our office and discuss the details of your question.

Read advice from car experts at Jerry

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies