Can I get a car loan for a private sale for $4,000?

I want to get a used car as my original vehicle just died. I found a car on Craigslist, and with a price of $4,000, it's below the blue book value. I know it's more difficult to get a car loan for a private sale. Can I get a car loan for $4,000 for this vehicle?

Answer
“You likely won’t be able to get a car loan for any vehicle for $4,000, regardless of where you buy it from.
Most banks don’t want to loan money on an older, high-mileage vehicle, and there’s little money for them to make anyway. However, you could try to get a personal loan from a lender.
If that’s not possible, you’ll need to save up or look for a higher-priced used car to purchase.
Don’t forget that when you buy a new (to you) vehicle, you will need to pay for car insurance, too. While it is an extra expense, it doesn’t have to break the bank. Use the free Jerry app to help you find the best deal. Jerry compares rates from the top 50 companies in under a minute, delivering the best deals to your phone.”
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Eric Schad
Answered on Aug 02, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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