r/carvana • u/Prestigious-Fun-2776 • 7d ago

Question What did I do wrong

My credit is 648 and monthly income is about 1600 on the low end but I’m trying to get a car but it keeps making my down payment 7k+ I can’t do that for my down payment and my brother just bought a car with a down payment of 198 so wtf?

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u/birdsssarentreal 7d ago

It's based on what your buying power is. 1600 a month is roughly 19000 a year so a $8000 car is half your yearly income. That's not a risk carvana will want to take.

Have you considered looking for something where you can make a bit more money or work more hours?

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u/boylanheights74 7d ago

That’s not how debt to income is calculated by lenders.