Frequently asked questions

1. What is Carvoy?

Carvoy is an innovative and rapidly growing tech start-up that brings alternative solutions to the automotive industry. We utilize our massive dealer network to provide consumers with a completely transparent and convenient online buying and leasing experience.

Simply create your online account and let us do the heavy lifting. We negotiate with the dealership, making the process is as simple as possible. You can complete your entire transaction by yourself online, or request a guided experience with one of our trusted advisors, it's totally up to you!

2. What is the process for leasing with Carvoy?

Leasing or buying a vehicle can be confusing and time-consuming. We make the process as clear and uncomplicated as possible. We save you the headache of going to a dealership and negotiating with a sales rep. We guide you through the best practices for making a purchase or signing a lease.

Carvoy offers a stress-free car buying and leasing experience. We provide everything you need to put you in control. Simply find your vehicle, customize your own payment terms, get approved online. We will prep the car and deliver it to your home, free of charge in our service area. The entire transaction takes as little as 24-48 hours. For more details, check out our “How it Works” page.

3. Why use Carvoy instead of a local dealership?

Our low-pressure, buyer-controlled process makes Carvoy 100% transparent. We operate with maximum customer satisfaction in mind, with advisors available to clearly define every step of the process.

All our prices include taxes, registration fees and other fees charged by the dealership. You have total flexibility to adjust your own deal. We know car buying is stressful, so we promise maximum transparency. All costs are broken down to the penny so you know exactly how your payment is calculated. You will have no surprises when working with us.

4. Who provides financing for my lease?

Carvoy is not a leasing or financing company; we partner with all OEM lenders and dealerships. Your lease agreement will be made with the corresponding captive or banking institution. For example, if you lease a BMW, BMW Financial will provide the financing for your lease.

5. Does the car come from a dealership or from Carvoy?

Carvoy does not warehouse any vehicles. All vehicles on our marketplace come directly from our certified dealer network. Our live inventory is updated in real time, so only available vehicles appear in our catalog.

Carvoy simply facilitates the relationship between the dealership and the buyer or leaser. When a deal is made, we arrange for the car to be delivered directly to you.

6. Does Carvoy handle trade-ins or lease returns?

Yes, if you lease a car through us and want an early termination, we can roll the remaining months of your lease into a new lease. You can also take advantage of a pull-ahead program to get out of your lease early with no penalty.

If you have a trade-in, Carvoy has a fleet of wholesalers willing to give you top dollar for your trade. We can process your trade-in as a completely separate transaction, or roll any equity into a new transaction.

7. Does Carvoy offer both new and used cars?

Presently, we only offer new cars.

8. How does Carvoy get paid?

Our partner dealerships pay a flat fee for every car that Carvoy leases from the dealership, regardless of how much consumers pay for their lease. One benefit of leasing with Carvoy is that our pre-negotiated prices ensure you get the best deal possible. We make the same profit whether you lease a Porsche or a Nissan. It is in our best interest to get you the lowest possible price, in order to earn your business.

9. How much money does the typical customer save?

Every car is different, which means different savings for every deal. Average savings are $3,243 before applying any additional rebates. Carvoy deals are always in the 95th percentile.

10. What is an automotive marketplace?

An automotive marketplace is a real-time online resource for buying, selling and trading vehicles. Carvoy’s focus is on leasing and buying from dealerships. Our automotive marketplace offers a unique approach to buying vehicles. We provide a clear and transparent service to make sure you get the best deal possible.

11. Are all vehicles showcased on the Carvoy website available?

Yes! Our catalog is updated multiple times a day, with dealerships feeding us live inventory, so if you see your dream car, act quickly!

12. How does Carvoy price each car?

We get all our incentives, rebates and residuals from the bank or lender. First, we locate you by zip code or geolocation to help us pull accurate incentives for your area and determine your tax rate and registration fees. We calculate each car individually, and we constantly adjust our calculations based on your preferred payment terms, amount due on signing, rebates and other variables.

13. Do the prices listed include all taxes and fees?

Yes, all prices include taxes and fees, and you can adjust your total out-of-pocket amount. We can include fees in your monthly payments or you can make a larger down payment — you are completely in control!

14. Does Carvoy have access to cars not listed on your marketplace?

If you can’t find the car you want on our website, you can email your advisor or contact us at We are currently locating unlisted vehicles on a case-by-case basis. Thanks to our extensive dealer network, the odds are good that we’ll find exactly what you’re looking for.

15. Can I custom-order a car using Carvoy?

Yes you can! Simply contact your advisor and let us know exactly which vehicle you would like to have custom-built, and we will add it to your dashboard so you can complete the process.

16. What forms of payment do you accept?

We accept all types of payments, including cash, check, credit or debit card. We charge a 3.5% processing fee if you choose to use a credit card.

17. How long does the entire car leasing process take?

The timeframe varies for each transaction. Once we have the go-ahead for financing, the average deal takes around 24-48 hours to complete.

18. Do you price-match?

If you receive a better offer than ours, just send us written proof of the offer and we will be happy to match or beat it.

19. Can I test drive the vehicle before leasing it?

Yes, simply let us know which vehicle you want to test drive and we will arrange it for you. Since we do not physically keep cars at our headquarters, we work with our certified dealer network to set up test drives.

20. Where do I have my vehicle serviced if lease through Carvoy?

You can service your vehicle at any franchised dealership nationwide. Since the vehicles we offer are new, they are under a manufacturer’s warranty, which includes nationwide service at any franchise location.

21. How are you able to get better prices than I can get on my own?

We have wholesale agreements with our dealerships that lock in our price. We get the same price as if we were purchasing a fleet of vehicles from the dealership. Our marketplace helps dealerships stay competitive by giving them more exposure to a larger pool of potential customers.

22. Does Carvoy have a return policy?

If there are any problems or discrepancies with the vehicle or paperwork, please notify your trusted advisor prior to signing the lease/finance agreement. We can work on resolving any issues prior to signing where a return option is available. However once you sign the lease/finance agreement, there is no ability to return.

23. If I am currently in a lease, can I get out early?

Yes! You have two options:

  • You can roll your remaining monthly payments into a new lease;
  • or you can use a pull-ahead program to get out early, with no penalty.

24. Why do I see the same car listed at different prices on your website?

The vehicles may be coming from two different dealerships. Every dealership offers its own pricing for cars, so if you see a similar car at a lower price, it usually means the dealership is offering a bigger discount.

25. Can I review my contract prior to delivery?

Carvoy gives you a deal confirmation prior to delivery so you can review it again to confirm that everything is correct. If you have concerns about your contract, please contact your advisor and we will immediately clarify or correct the matter. A full contract will be presented to you for signing at the time of delivery. We recommend that you compare your confirmation details to the terms of the contract before signing.

26. Will my credit score be affected by using Carvoy?

Shopping on Carvoy will not impact your credit score until you authorize access to your full credit report. A credit check will not be done until after you have customized your payment and are ready to reserve your vehicle for delivery.

27. Can I get a car through Carvoy if I have bad credit?

Eligibility depends on which vehicle you want to lease or purchase, and on your particular credit situation. The financial institution will make that call. Check this blog post for more information.

28. Do cars leased through Carvoy include insurance?

No new or used car comes with insurance, no matter where you get it. Once your lease is confirmed, it’s up to you to have the car covered by your insurance company, and send us proof of coverage prior to the vehicle delivery. Ask your advisor if you need help with this matter.

29. Why do I only see a few brands on your website?

As a live marketplace, we will only show you vehicles that are available in your area. A customer living in a more populous area may see a larger number of brand options.

30. Can I negotiate a lower price?

All Carvoy vehicles are pre-negotiated by the participating dealers and guaranteed to be in the 95th percentile of deals, so there is no need to haggle.

31. Where do I make my lease payments, and when are they due?

After paying the amount due on signing, you will receive a bill from the financial institution who approved your lease. Monthly payments will be made to them, not to Carvoy or the dealership.

32. Can I register my car in a state other than the one where I live?

Most likely not. You have to abide by the DMV rules in your home state. Most states require identification and proof of residency.

33. Can I add a co-signer?

Of course! Any car can have a co-signer added. Simply have them fill out the same credit application you submitted, and we will attach it on our end.

34. Do your offers expire?

Our prices change every day, so if you see something you like, don’t delay!

35. Where do I pick up my new car?

You can pick up your car at the fulfilling dealership or take advantage of our delivery service. If you are located within 30 miles of our fulfilling service area, your delivery is free!

36. What is a money factor?

A money factor is the interest paid on a lease, also known as a “rental charge.” You can check out the math of a lease agreement here.

37. Can I customize the out-of-pocket amount?

Yes, every car on Carvoy has a fully customizable out-of-pocket or “due on signing” option. Simply use the slider to indicate how much you would like to pay.

38. What does the out-of-pocket amount include?

The out-of-pocket or “due on signing” amount includes all taxes and fees, plus the first month’s payment. This typically includes:

  • First Month
  • Taxes
  • Bank fees (Acquisition fees)
  • Registration fees
  • Document fees

A great post about out-of-pocket fees can be viewed here.

39. What are inception fees?

Inception fees include everything in the out-of-pocket amount, minus any additional down payment.

40. Your prices seem a bit high compared to other online ads. What’s up with that?

In some cases our prices may appear higher than other ads you see online, but keep in mind that we are a transactional company. We have access to enough data to include taxes and registration fees in our prices without charging an additional down payment. Lower-priced adds often have additional hidden fees.

When you see ads from dealerships or franchises, the fine print is hidden. They don't include taxes and other fees. They don't know your location, so they are unable to calculate the full final amount. Typically an additional down payment is required, on top of taxes and fees. Take a look at this example:

41. How long will it take for my lease to be approved?

Approval time varies, depending on the vehicle and your credit profile. There are many variables involved, so you might get instant approval, or it could take 24-48 hours.


Carvoy has a team of dedicated specialists on standby to give you unbiased advice, feel free to ask us anything!
Note: We'll never share your contact information without your permission.
Copyright © 2020 All Rights Reserve