Dealer FAQs

 

 

 Answers

What states do you do business in? 

     We are currently doing business in the following states:  Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Jersey, New York, North Carolina, Pennsylvania, South Carolina and Virginia.

  

What do I need to do to sign up? 

    Complete a Dealer Application and a Dealer Agreement.  Please call us at (516) 750-4490 to schedule an appointment with a local sales representative, or click here to be taken to our Dealer Enrollment form where you can give us your contact information.  Of course, you can always email us at DealerEnrollment@carvant.com.

  

How do I submit applications? 

    Applications can be submitted online using DealerTrack, Route One or the Carvant Dealer Portal.  You must be signed up before we can process any application, so please contact us for enrollment information before you submit anything.

 

What customers qualify for your program? 

    Sometimes bad things happen to good people - we focus on customers who have had problems in the past, but can currently demonstrate the ability and willingness to pay.  A verifiable job, verifiable residence and ability to prove income are key, as well.

  

How long is an approval good for? 

    Approvals are good for 20 days.  We are always happy to take another look at a potential deal and  refresh an approval.  When in doubt, call us!

  

How much do you advance on contracts? 

    We evaluate each applicant on their individual merits, and take into consideration factors such as stability of employment and residence, income, prior auto credit and the vehicle being purchased.  Each deal is unique, so we have no absolute advance formula.  We also take into account the overall relationship with the dealer, because relationship means a great deal to us.  Please call us for more information!

  

What guide do you use to book out vehicles? 

    Valuations are based on NADA.  We adjust for all factory installed equipment and mileage.

  

What documents are required for funding? 

    Please contact us for Program Guidelines and a Funding Checklist. The Carvant Dealer Portal allows dealers and customers to electronically sign not only the Retail Installment Contract, but all Carvant required documents in a secure online environment hosted by eOriginal, a leader in electronic signing. Stips can also be sent easily using our Dealer App by simply using your phone to take a picture. The Carvant Dealer App can be downloaded using one of the links below.

  

How long do you take to fund? 

   We fund within 24 hours if we receive a completed loan package, and in many instances we can fund you the same day.  Factors that affect funding include our ability to perform our customer interview and verify employment.  Call us anytime you think verifications may cause a delay, or if there are any questions regarding your deal.  We are always available to discuss specifics of a deal before you send it in; we're here to help you.

 

What method do you use to fund? 

    ACH.

 

Can customers make payments at my dealership? 

   No, we require that they make payment directly to us, so that we can continue to assist them in managing their obligation and rebuilding their credit.  Please refer any customer that stops in to make a payment directly to us at (516) 750-4490 - we would really appreciate it if you had the customer call us right from your dealership.

 

   We prefer that customers make payment by recurring ACH transaction, however we do accept payments by phone or online using debit/credit cards as well as by check.