How do I get a car loan for a vehicle at an independent dealership?

I know independent used car dealerships get a poor reputation, but I've known the owner for years. He has a used BMW sitting on his lot and wants to give me a good deal. The only problem is that his dealership doesn't offer financing. How do I get a car loan for an independent dealership vehicle?

Answer
“While big banks may not touch this loan, local credit unions probably won’t bat an eye at it. So that’s where you start.
Go to some local credit unions in your area, tell them the situation, and see if they’re willing to help you. If you’re still having issues, you may want to try getting approved for a personal loan instead of an auto loan.
While the rates won’t be as favorable, you’d be able to get a loan for the vehicle. If that doesn’t work, you may need to reconsider where you’re choosing to buy a car.
To help you fully prepare for buying your vehicle, I want to remind you that when you buy a new vehicle, you will need proper coverage. Financed cars often require full coverage, which can be pricey, but that doesn’t mean there aren’t ways to save. 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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