Sales/Approval FAQs


I received an approval, what are my next steps?

DriveTime’s approval process and down payment requirements are subject to several factors: Income level, proof of residence, driver’s license, and credit history. Once an online or over-the-phone approval has been given, we encourage you to reach out to your nearest DriveTime dealership to talk about vehicle options available. By visiting our dealership locator page at,you can access  contact information, a list of available vehicles, and the option to schedule a visit with your nearest dealership.

Please keep in mind that final approval is subject to change once at the dealership as we must verify the information provided during pre-approval.

What documents do I have to provide to verify my approval?

In order to confirm any approval, the following documents must be verified at the dealership: proof of identity such as a driver’s license, paycheck stubs or other proof of income, proof of residence such as a utility bill, and proof of insurance.

Why is my APR so high?

APR is subject to your credit history. If applicable, you may qualify for the Interest Rate Buy Down Program. In this program, customers may choose to buy down their interest rate within the first 60 days of purchase by making an extra payment to be designated toward the principal balance. Customers must indicate the payment is intended to take advantage of the Interest Rate Buy Down Program by contacting our New Loans Department at (888) 639-8691 or Customer Service at (800) 967-8526.

Why is my down payment so high?

Down payment is dependent upon your income, credit history, and the price of the chosen vehicle. DriveTime offers several programs to help people get into a vehicle with a smaller down payment. Contact your local dealership for more information on these programs. You can find your local dealership here:

Why is the price so high in comparison to Kelly Blue Book value?

DriveTime understands that many consumers are weary about how a dealership prices their vehicles, which is why we disclose our prices online and post them on every vehicle for sale at our dealerships. Our haggle-free pricing is part of the DriveTime experience for our customers and truly emphasizes our transparency with how much our customers will pay for their chosen vehicle.

We also invest, on average, over $1,200 in parts and labor in every vehicle we sell to ensure it meets our standards, an amount representing 10% or more of the NADA value of the vehicles. We utilize NADA Retail Suggested Value when evaluating our pricing, which are within the “fair market range” displayed on the “Buy from a Dealer” page on Kelly Blue Book (KBB).

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