Can you trust DriveTime?

Can you trust DriveTime automotive dealerships? This AdvisoryHQ review found that yes, DriveTime is legit, with company headquarters based in Tempe, Arizona. DriveTime has been registered with the Better Business Bureau since 2012, and currently has an ‘A’ rating.

Is DriveTime better than Carmax?

Results were generated by 277 employees and customers of CarMax and 227 employees and customers of DriveTime. CarMax’s brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of CarMax….CarMax vs DriveTime.

45% Promoters
11% Passive
44% Detractors

Does DriveTime run your credit?

Does DriveTime do credit checks? Yes, we will run a credit check. But don’t worry! Your credit report and score isn’t the only factor we take into consideration when building your customized approval.

How does DriveTime verify income?

Proof of income (determined through a pay stub, bank statements and/or employer verification) Proof of auto insurance (we can help you obtain insurance if you don’t already have a provider) Proof of residence (utility bill, lease agreement, etc.)

Is Carvana and DriveTime the same?

Carvana. In 2013, DriveTime became the majority owner of Carvana; the two companies are operated completely separately. Carvana was founded in 2012 and launched nationwide in November 2013. The Phoenix-based company is an online used car retailer.

Can you negotiate price at DriveTime?

DriveTime is a “No-Haggle Dealership,” where there is no negotiation and the price you see is the price you get.

Can you negotiate with DriveTime?

Can you get a car loan with a 500 credit score?

It’s possible to get a car loan with a credit score of 500, but it’ll cost you. People with credit scores of 500 or lower received an average rate of 13.97% for new-car loans and 20.67% for used-car loans in the second quarter of 2020, according to the Experian State of the Automotive Finance Market report.

What credit bureau does DriveTime?

Experian is one of the three major credit reporting bureaus in the United States. They also provide vehicle data, which is included in DriveTime’s AutoCheck® Vehicle History Report.

Is CarMax the same as DriveTime?

Large used-car retailers like CarMax and DriveTime function like independent dealerships, but they’re different for a number of reasons. For example, CarMax calls for inspections of all of its cars for sale, and each comes with a free vehicle history report and safety recall report. DriveTime’s program is similar.

Can I buy a car with 500 down?

While it’s possible to get a new car with a $500 down payment, many opt to purchase pre-owned vehicles because of the many benefits including: A lower interest rate. A lower amount financed. A lower monthly payment.