Your first payment is due on the date listed in your loan agreement, typically 30 to 60 days after you take delivery of the car
Carvana finances cars through third-party lenders, not directly. The lender sets your payment schedule, and that schedule begins when you sign the loan documents at delivery—not when you apply, not when you're approved, but when you actually take the car home. Your first payment due date will be printed on the loan agreement you receive before or at delivery. Most lenders give you a grace period of 30 to 60 days before the first payment is due, but some may require payment sooner.
You need to find this date in your loan documents, not assume it based on when you bought the car. The lender's name, your payment amount, and the exact due date are all on the promissory note or loan agreement you sign. If you cannot find these documents, log into your lender's online portal (the lender's name will be on any email confirmations Carvana sent you) or call the customer service number on your loan paperwork.
Key Takeaways
- Your first payment due date comes from your loan agreement, which is issued by the lender Carvana works with, not by Carvana itself.
- Most lenders give 30 to 60 days from delivery before the first payment is due, but you must check your specific loan documents to confirm.
- If you miss your first payment, the lender will report it to credit bureaus and may charge a late fee, typically 5 to 10 percent of the payment amount.
- You make payments directly to the lender, not to Carvana, so you need the lender's payment instructions from your loan documents or their website.
How to find your lender and payment instructions
Carvana works with multiple lenders depending on your credit profile and the terms you were offered. The lender's name appears on your loan agreement and on any email confirmations sent after you were approved. Common Carvana lenders include Ally Financial, Capital One, and others, but the specific lender for your loan is in your paperwork.
Once you know the lender's name, go to their website and log in with the account information you created during the loan process. Most lenders have a "Make a Payment" section that shows your balance, due date, and payment options. You can also call the customer service number on your loan documents or on the back of any payment coupon they sent you. Do not call Carvana for payment instructions—they cannot process your payment because they are not your lender.
What happens if your first payment is late
A payment is considered late if it arrives after the due date shown on your loan agreement. Most lenders allow a grace period of 10 to 15 days after the due date before they report the late payment to credit bureaus, but they will charge a late fee immediately. Late fees typically range from 5 to 10 percent of your monthly payment amount, depending on your loan terms.
If your payment is more than 30 days late, the lender will report it to Equifax, Experian, and TransUnion. This report stays on your credit report for seven years and will lower your credit score. After 90 days of non-payment, the lender may begin collection efforts or repossession proceedings. If you know you cannot make your first payment on time, contact your lender immediately—some lenders offer deferment or forbearance options that delay the payment without triggering a late report.
Payment methods and processing times
Your lender will accept payments through several channels: online through their website, by phone, by mail, or through automatic bank transfers (ACH). Online and phone payments typically process within one business day. Mailed checks take 5 to 10 business days to clear, so mail your payment at least two weeks before the due date to avoid a late fee. ACH transfers from your bank account usually take one to two business days.
If you set up automatic payments through your lender's website, the payment will be deducted from your bank account on the due date each month. Automatic payments are the safest way to avoid missing a due date, but you must ensure your bank account has sufficient funds on that date. If the automatic payment fails due to insufficient funds, your lender will charge a returned payment fee (typically $25 to $35) in addition to a late fee.
Deferring or changing your first payment date
If you cannot make your first payment by the due date, contact your lender before the due date passes. Some lenders offer a one-time deferment that moves your first payment to a later date without reporting a late payment to credit bureaus. This option is usually available only if you request it before you miss the payment, so call as soon as you know there is a problem.
Deferment typically adds the deferred payment to the end of your loan, extending your payoff date by one month. This means you will pay slightly more interest over the life of the loan, but it protects your credit report. Other lenders may offer forbearance, which temporarily reduces your payment amount for a set period. Ask your lender what options are available for your specific loan.
Carvana's role in your payment schedule
Carvana sells you the car and arranges the financing, but they do not collect your payments or set your payment schedule. Once the loan is funded and you take delivery, your relationship for payment purposes is with the lender, not with Carvana. Carvana may send you reminder emails about your payment, but these are informational only and do not change your due date or payment amount.
If you have a problem with your car after delivery, contact Carvana's customer service. If you have a problem with your payment or loan terms, contact your lender. The two companies handle different parts of the transaction, and contacting the wrong one will delay your resolution.
Frequently Asked Questions
Can I change my payment due date after I sign the loan?
Most lenders allow you to request a due date change once per year, moving your due date to a different day of the month that works better for your budget. Contact your lender's customer service to request this change. Some lenders charge a small fee for the change, while others do not. The change typically takes effect on your next payment cycle.
What if I pay early—does it reduce my interest?
Yes. Paying early reduces the principal balance faster, which means less interest accrues on the remaining balance. Most lenders do not charge a prepayment penalty, so you can pay extra toward your loan without penalty. Check your loan agreement to confirm there is no prepayment penalty, then contact your lender to confirm how to apply extra payments toward principal.
Do I need to make a payment before I take delivery?
No. Your first payment is not due until the date specified in your loan agreement, which is typically 30 to 60 days after delivery. You may have made a down payment to Carvana when you placed your order, but that is separate from your monthly loan payments. Your monthly payments begin after delivery.
What if I never received my loan documents?
Contact your lender directly using the phone number from any email Carvana sent you after approval. Provide your name, vehicle identification number (VIN), and the last four digits of your Social Security number. The lender can tell you your due date, payment amount, and resend your loan documents electronically or by mail.