Carvana Bad Credit, Applying for a Vehicle Loan in the Easiest Way
Carvana bad credit is definitely one of the best solutions for those who want to buy a car, but have bad credit. Before knowing why Carvana is the ideal choice for those who have a record of not paying the bills on time, it’s essential to understand what Carvana is about. Carvana itself is an online dealership which offers a wide range of used vehicles as well as in-house loan throughout the country. It means that you can buy a used car and find loans in one online website from your own home.
Carvana is considered the best solution for people who have bad credit because it allows you to be pre-qualified without having to provide a credit report for a car loan. They also have a seven-day refund policy for their cars, which is very good in this kind of industry. Plan to get a car loan? Here are the things you need to think of before using Carvana bad credit.
- Get pre-approved without burdensome requirements, such as providing credit reports.
- The minimum age to get pre-qualified is only 18 years and have a minimum of $10.000 annual income.
- Depending on the lending, the interest rate may vary, starting from 4.43% APR.
- Can’t get a co-signer qualified.
- The delivery of the used car is free. Terms and conditions may apply.
Buying a car from Carvana with bad credit is indeed the best option for many people. But there are several downsides of applying for a car loan in Carvana.
- Carvana applies a limitation policy on how their loans can be used.
- Carvana financing can’t be used to buy a car from anywhere but the website of Carvana.
Also essential to keep in mind that Carvana doesn’t sell any new vehicles on their website. They only offer used vehicles, and this fact shows that they can’t be the best solution for those who plan to buy a new car. Another thing that is vital to remember is that Carvana only provides single creditors, meaning you are not allowed to apply for credit with another signer.
Carvana financing is the right choice for:
- People who want the car buying process to be done online.
- Anyone who’s interested in buying pre-owned vehicles and trusted online financing.
- People who at least have $10.000 income per year with no bankruptcy on the record.
In conclusion, Carvana bad credit is ideal for everyone who wants to buy a used vehicle but has a history of not paying bills on time, as long as the requirements above have been fulfilled.