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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?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“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.
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.”View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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