I purchased two vehicles through Carvana and its financing affiliate. Well, the third purchase attempt for a vehicle for my son in college was a nightmare. The car is still unavailable to this day. I changed to another vehicle for about 3 grand more. I was told that although I make $70k+ annually, they need me to be at $81k since this is a third purchase, or put down $5k on a car advertised as $0 down. On top of that, they put a $100 reservation hold on a vehicle after they denied me financing. I went through the chat and was rudely told, "we don't control how long the funds will be held." Are you kidding me? I had $100 reserved for a vehicle over one month ago. I started a purchase on another vehicle and you are charging me a hold on a vehicle that you will not finance me for...This company has lost a loyal customer forever.
Bottom Line: No, I would not recommend this to a friend
5 people found it helpful
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Company Response from Carvana
We would like to apologize towards the experience you have had and how it's not been easy. Your third purchase was not seamless, and this disappoints us. Your third purchase was an On Demand vehicle with Carvana, which means that the car is not ready for sale, but we allow customers to place a hold on the vehicle until it is ready to sell. In these cases, our timelines are estimates and can vary in timeline. Delays don't always occur, but they can. The $100 hold for the On Demand vehicle is released after 7 days. If you feel that we are still holding onto that money, please contact us as soon as possible and we’d be happy to look further into this for you.
In regards to the required annual income, we base how much we can finance according to annual income and the customer’s budget on how many vehicles they are currently financing. When the maximum amount of financing is reached, the un-financed portion is added to the down payment. We apologize that this was not made clear at the beginning, but we hope this helps.
A Customer Advocate has been reaching out to you to assist with any questions or clarification with this. If we are unable to connect, please give us a call at (800) 333-4554 to discuss your experience further.