Can I get a car loan for a used Ford F-150 I'm buying from a private seller?

I found a great deal on a Ford F-150 from a private seller, but I don't have the cash to pay for it outright. Can I get a car loan for it?

Answer
Yes, you can definitely get a car loan to buy a vehicle from a private seller, and the process is pretty similar to getting a loan for a dealership. You’ll need a steady income and good credit to finance the vehicle.
The major difference is that your interest rate might be far higher than if you bought from a dealership. Dealers guarantee the condition of their used vehicles, while private sellers might not have been so vigilant in their maintenance and upkeep.
You may also face some risks in buying a car from a private seller because there are no guarantees. Therefore, you should always:
If the car passes all the tests, shop around for rates. Keep in mind that you will also need full coverage car insurance to get the loan. To save money on your car insurance, download the Jerry app and compare car insurance rates from dozens of providers to get the best rate possible.
Eric Schad
Answered on Nov 15, 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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