How do I get a car loan for a private-sale vehicle?
I'm considering buying a used car from a private seller, but I'll need a loan to afford it. How do I get a loan in this situation?
Answer provided by
Answered on Feb 18, 2021
Typically, when you’re looking to buy a car, you want to get pre-approved for an auto loan. But when you’re buying a vehicle from a private seller, you need to first pick out the car you want and then approach the lender of your choice about financing. From there, the process works just like any other auto loan. If the lender approves the loan, they will usually pay the seller directly for the vehicle.
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Browse by topics
What others are asking
Can I have separate addresses for my insurance and registration?
I'm living with my partner and to get a parking permit at his building, his address needs to be on the car registration or insurance certificate. But the insurance is cheaper if my car is insured to my mom's address and under my name. Can I have separate addresses for my insurance and registration?
Mar 12, 2021
What will happen to my brother if I file a claim on his home insurance for injuries to my son?
"My brother's nanny is accused of injuring my son at my brother's house. I'm considering suing the nanny, and my lawyer also suggested making a claim on my brother's homeowners insurance. If I go ahead with the claim, what will happen to my brother and his coverage? I don't want to hurt him. "
Apr 07, 2021
Do you have to report every auto accident to your insurance company?
The sun blinded me while I was driving the other day, and I ran into my neighbor's fence when I thought I was turning into the driveway. There is damage to my car, but I only have liability coverage. Do I need to report this?
May 06, 2021