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How Long Does Carvana Take to Approve?

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Carvana introduces a whole new process to buying a car. Carvana’s car buying process is nothing you have witnessed or experienced. They have successfully brought the concept of online shopping to vehicles. They offer a car buying experience from the comfort of your home, at your own sweet time, and delivery to your doorstep.

Understanding the process

Once you have made a choice about the right car for you, here is what you need to do:

  • Click on “Get Started” to view all the steps for the online purchase on the dashboard.
  • Next, you’ll be able to select your desired payment option like cash, Carvana Financing, or third-party financing.
  • Now you can choose to add GAP coverage, apply a trade, or add a Carvana Care extended warranty.
  • Next, Carvana will prompt you to upload your driver’s license with a few other documents based on your purchase.
  • For the last step, select your pick-up or delivery details.
  • Once the order is placed, Carvana’s Underwriting Team will review the account and provide an update. However, the pick-up and delivery criteria depend on your location!

Time taken by Carvana to Approve

Once you sign up, you’ll receive a confirmation email from Carvana of what to expect and stating that they’ll check in within seven days to provide an update on the car. If your chosen vehicle is available for purchase, you’ll be amongst the first few to know as you will receive a text message and an email.

Why Choose Carvana?

Carvana offers you a convenient way to pay for your car by providing loans for its inventory. You can either apply once you’re ready to buy a car or get it preapproved for 45 days to browse the inventory to see how much you can afford. Listing a few things that make Carvana stand out:

1. 45-day preapproval period:

Most lenders offer a 30-day preapproved loan to browse the inventory. In contrast, Carvana offers a 45-day preapproved loan while updating the listing frequently, providing you with options to make the right choice.

2. Seven-day return policy:

If you are unhappy with your purchase, you can return your car if you don’t drive more than 400 miles and keep it in the same condition it arrived. Every extra mile over 400 will cost you $1 per mile. However, the delivery fee is non-refundable, but you can get a refund on your down payment and loan.

3. 100-day warranty included:

Every car sold by Carvana has a 100-day/4,189-mile limited warranty. One may also be eligible for an extended warranty, Carvana Care, to cover repair costs and vehicle defects after the initial warranty runs out.

4. No-haggle pricing:

Carvana sets the prices based on vehicle conditions and comparable vehicles in the area. It has competitive pricing with no room for negotiations, and there is no scope to haggle the price or the down payment required.

Wrapping-up!

Carvana is a legit financing company and used car dealership, irrespective of operating only online. Its privacy policy clearly states how it shares your personal information, and the website is encrypted to keep user information safe. Hence, it might be an optimal option for you to look at for your next car purchase!

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