Now, there's a few things to consider, and used car loans may differ the financier depositing the amount directly into the seller's bank account. Check with your bank to find out if your loan is large enough to be considered. Banks also place limitations on the age of used cars that are. When it comes to financing, it's certainly possible to get an auto loan for a private party sale — many banks and credit unions offer them — but it.

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Contact SWAP help swapmotors. With paper titles, the lender will need to sign off on paper, and the process can thus take up to 5- 10 business days. Be sure to weigh your options accordingly and shop around before deciding on a specific lender or loan product. Auto loans for private sales work similarly to traditional auto loans. Find out how to get a loan for a used car from a private seller and what to expect along the way in our answers to some frequently asked questions about private auto loans below. The entire market was not considered in selecting the above products. Sponsored Links by Zergnet. Andrew DePietro and Stacey Bumpus contributed to the reporting for this article. For example, private party auto loans are not as widely available as those offered on new vehicle purchases. Secured Personal Loan. If your car is a classic, then that could leave out many mainstream lenders. Private party loans give you the best of both worlds: you get the low cost of a private purchase while also getting the affordable financing option that a dealer would offer.