What do I do if I got Carvana pre-approval and then I was denied?

I applied for pre-approval for a car loan with Carvana and I was approved. I then started shopping for a car, but when I tried to apply for the actual loan, I was denied. What should I do? Why did I get approved and then denied?

Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Pre-approval is not a guarantee that you’ll get a
car loan
, but you should double-check with the lender about why your application was denied.
If you got Carvana pre-approval and then were denied a car loan, don’t stress. You may have been denied due to a change in your credit or even a simple clerical error or typo. 
So, here’s what you should do:
  • Reach out and ask: Contact Carvana, and ask why you were denied. They should have details about the situation.
  • Check your credit score: Take a look at your credit report, and see if anything new popped up. If something increased your debt or debt-to-income ratio, that could have led to a denial.
  • Look for errors: Make sure all your information is correct. You may have typed your name or Social Security number wrong.
  • Pre-approval vs. pre-qualification: Make sure that you applied for pre-approval and not pre-qualification. Pre-qualification doesn’t guarantee you a loan—it’s more like a device to see how much you can afford and what your payments might be.
If there’s a way to move forward with Carvana, great! But if you’re still denied afterward, shop around with other lenders. 
You have 14 days to apply for pre-approval as many times as you’d like, and it’ll only count as one hard inquiry on your credit report. Use this time wisely.
View full answer 
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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