Carvant Financial

What Carvant Financial does

Carvant Financial is a privately held, indirect sub-prime auto finance company that purchases retail installment contracts originated by approved used-car dealerships across 12 US states (Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, and Virginia). Founded around 2008–2009 by Jeff Cohen (formerly Managing Director in Merrill Lynch's Global Asset Backed Finance Group) and Robert Micalizzi, Jr (formerly Director of Credit Extension and Risk Management at CarMax Auto Finance), the company is headquartered in Syosset, New York, and operates as Carvant Financial LLC under NMLS ID 1281674. Carvant focuses on borrowers with less-than-perfect credit and offers non-recourse dealer terms, no minimum FICO requirement, fees starting at $695 per contract, rates from 12.99% APR, and a $25,000 maximum amount financed on vehicles model-year 2005 or newer with up to 125,000 miles.

The company operates a web-based loan origination system (LOS) with a dedicated dealer portal (los.carvant.com), a customer-facing web portal, mobile apps for both borrowers (iOS/Android Customer Portal) and dealers (Dealer Stip App), and e-contracting via eOriginal. Applications are routed through DealerTrack and RouteOne — the dominant indirect-lender platforms — enabling dealers to submit deals without changing systems. Carvant reports payment performance to all three major US credit bureaus (Equifax, Experian, TransUnion), positioning credit rebuilding as a borrower-facing value proposition.

Carvant's business model is transaction-based: revenue comes from interest on purchased retail installment contracts and per-contract fees charged to dealers, with no signup or monthly program fees on the dealer side. Go-to-market is sales-led and channel-partner hybrid, combining field sales representatives who enroll dealers, dealer self-enrollment via the website, and inbound dealer applications through DealerTrack/RouteOne. The customer base is dual-sided: subprime auto borrowers (including self-employed, 1099, Uber/Lyft, and TIN applicants considered case-by-case) on one side, and independent and franchised used-car dealerships on the other.

Name

Carvant Financial

Legal name

Carvant Financial LLC

Website

https://carvant.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

101–250 employees

Short description

Carvant Financial is a privately held indirect sub-prime auto lender that purchases retail installment contracts from approved used-car dealerships across 12 US states, financing vehicles for borrowers with less-than-perfect credit.

Ownership category

akta.pro rank

Product category

Sub-Prime Auto Finance

NAICS

Sales Financing (522220), Activities Related to Credit Intermediation (5223)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

New & Used Auto Purchase Loans (FSAKADAA)

akta.pro secondary industries

Subprime Auto Title Lending (FSAKAOAB), Auto & Vehicle Loan Brokerage (FSAEAEAK)

Keywords

• Subprime auto financing
• Indirect auto lending
• Retail installment contracts
• Used car dealer financing
• Credit rebuilding loans

Headquarters

HQ city

Syosset

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Auto Loan Financing: Carvant purchases retail installment contracts (auto loans) from approved dealerships. The company earns revenue through interest on the loans and fees charged to customers. As an indirect lender, they provide financing for consumers with less-than-perfect credit, purchasing contracts that dealers originate.
2. Contract Purchase Fees: Fees charged to dealers when purchasing contracts, including program fees as low as $695 per contract. Interest rates start at 12.99% APR.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Carvant Financial operates as an indirect sub-prime auto finance company that purchases retail installment contracts from approved used car dealerships. It provides financing for consumers with less-than-perfect credit, enabling them to purchase reliable vehicles while rebuilding credit through on-time payment reporting. The company operates across 12 U.S. states, supports dealer submissions via DealerTrack, RouteOne, and its own Dealer Portal, and services borrowers through its Customer Portal and mobile applications.

Product overview

Carvant Financial operates as an indirect sub-prime auto finance company that purchases retail installment contracts from approved dealerships. The product portfolio consists of the Customer Portal (web and mobile app) for account management and payments, the Dealer Portal/LOS for loan origination and application processing, and a Dealer Stip App for mobile stipulation submission. The company is integrated with DealerTrack and RouteOne for dealer application submission, and uses eOriginal for electronic document signing. Key program features include no minimum FICO score requirement, $25,000 maximum financing, vehicles 2005 or newer with up to 125k miles, and credit bureau reporting to Equifax, Experian, and TransUnion.

Differentiator

Problem solved

Functional benefit

Products and services

• Sub-Prime Auto Financing Program
• Carvant Customer Portal
• Carvant Customer Portal Mobile App
• Carvant Dealer Portal
• Carvant Dealer Stip App

Quantifiable outcome

• Same-day funding available for completed loan packages
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• DealerTrackcoreTechnology or IntegrationCarvant is integrated with DealerTrack, allowing dealers to submit applications through this third-party auto finance platform. Dealers must be signed up with Carvant before applications can be processed through DealerTrack.
• RouteOnecoreTechnology or IntegrationCarvant is integrated with RouteOne, enabling dealers to submit applications through this platform. Contact information is provided for dealers interested in using this channel.
• eOriginalcoreTechnology or IntegrationCarvant uses eOriginal's electronic signing platform for secure online signing of Retail Installment Contracts and all required documents, hosted in a secure online environment.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Ally Financial: Top-tier U.S. auto finance bank with a sizeable dealer-originated book across the credit spectrum including subprime. Operates an indirect lending platform similar in structure but vastly broader in scale.
• Capital One Auto Finance: National indirect auto lender with meaningful subprime exposure, offering dealer-arranged financing through DealerTrack/RouteOne. Competes for the same dealer-submitted deal flow Carvant targets.
• DriveTime: Vertically integrated used-vehicle retailer with captive subprime finance arm (DT Credit Corp) originating contracts through its own and partner dealers. Overlaps with Carvant in subprime auto underwriting and customer profile.
• GM Financial (formerly AmeriCredit): Captive auto finance arm of General Motors that is also one of the largest independent subprime auto lenders in the U.S., purchasing dealer-originated contracts. Larger scale and broader footprint than Carvant, but directly competes for similar contracts.
• Chase Auto Finance: Bank-affiliated indirect auto lender providing dealer-originated financing across credit tiers including non-prime, integrated with DealerTrack. Adjacent competitor for the same dealer-submitted applications.

Direct peers

• Prestige Financial Services: Indirect subprime auto lender partnering with franchised and independent dealers, offering tiered programs and dealer portal workflows. Comparable niche positioning and customer base to Carvant.
• Westlake Financial Services: Large indirect subprime auto lender serving dealers nationwide with technology-driven portal and broad product tiers (including non-prime, subprime, and franchise programs). Directly comparable in underwriting philosophy and GTM.
• Consumer Portfolio Services: Public indirect subprime/prime auto finance company that purchases contracts from dealers and operates an in-house servicing platform. Closely aligned business model and customer base to Carvant.
• Exeter Finance: Subprime-focused indirect auto lender serving franchised and independent dealers across multiple states with dealer-portal-driven underwriting. Comparable in niche focus, dealer-intermediated GTM, and geographic roll-out stage.
• Credit Acceptance Corporation: Public indirect subprime auto lender that purchases retail installment contracts from a nationwide dealer network. Closest pure-play comp given Carvant's identical indirect model, subprime focus, and dealer-portal-driven distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carvant Financial