While Carvana and Vroom offer similar products on the surface, it's difficult to compare the two — largely because Vroom isn't upfront about the cost of its loans. A Vroom representative quoted us a slightly lower APR than Carvana when we called, but it will depend on the bank you receive financing from and your credit.
Loan terms also aren't clear with Vroom. You won't know the terms of your loan until after you apply. And because Vroom does a hard credit check, you won't be able to compare it with other lenders before you submit a full application.
Carvana is much more upfront about the terms of its loans and the cost of borrowing. It also receives much higher ratings than Vroom. When you're dealing with an online car buying service, reports of positive customer service and clean vehicles are a big plus.
|Get pre-qualified for used car financing and receive competitive, personalized rates.||Simple financing process — but no preapproval option.|
|Carvana shoppers who have already compared other financing options||Best for borrowers who want a streamlined finance process backed by banks.|
|18+ years old, annual income of $4,000+, no active bankruptcies||Not stated|
|Varies||Varies by lender|
|12 months-72 months||Varies|
|Not stated||Not stated|
Like Carvana, Vroom offers a seven-day return period. But its test drive mileage is much lower. Beyond that, Vroom falls short in a variety of ways. It isn't transparent about costs, it doesn't receive good customer reviews and it requires a hard credit check just to see rates.
On the surface, they're about equal. But if you want an established car-buying service, Carvana is likely the better choice.
Whichever option you choose, compare more car loans so you know exactly how much car you can afford.
Compare more providers
More guides on Finder
Startup business loans for bad credit with no collateral
Options to get a startup business loan when your credit score is below 580.
How to finance a Toyota RAV4
Get the best deal on a car loan when you finance this fuel-efficient compact SUV.
Carvana vs. Carmax
Two used car dealerships with competitive rates and quick online financing.
Compare full coverage vs. liability car insurance
Which type of car insurance policy fits your car and driving needs?
5 ways COVID-19 may have helped you buy a car
Navigate car deals and a wavering market if you’re buying a ride during the coronavirus.
Indiana debt relief resources
When it comes to finding legit debt relief, Hoosiers are protected by state law.
Should you take out a personal loan to pay bills after the pandemic?
11 experts weigh in on when taking out a personal loan to pay bills makes sense — and when you should explore other options.
10 best car-buying apps
Compare models and find listings in your area with only a few swipes.
How to finance a Cadillac
With prices topping $75K, compare your car loan options before hitting the dealership.
Ferrari Financial Services auto loans review
Buy your dream car or use your current collection as collateral for a loan.
Ask an Expert