Can you get an auto loan when buying a used car from the owner?

Asked by William Feb 16, 2014 at 03:35 PM

Question type: Shopping & Pricing

5 Answers
199,905

dandyoun answered 10 years ago

I have before. But I got the loan thru my bank. But had to give the owner something down so he would feel confident that I was getting the loan. Since banks sometimes take days to do anything.

1 people found this helpful.
Mark helpful

FordNut answered 10 years ago

I take that to mean a private Party sale, since when you buy from a dealer they own the car. Okay, the answer is yes, but the bank/finance company will want to inspect the car first to make sure they money they forward is not going towards a POS car that you might default on if it blows up 10 minutes after you drive away. It ALL hinges on your credit score. If it is 700 or better, no problem.

2 people found this helpful.
Mark helpful

FordNut answered 10 years ago

dandy beat me to the punch...as usual, but we basically agree.....although I forgot about the down payment. He is right on.

2 people found this helpful.
Mark helpful

Your Answer:

Related Questions

Own this car?

Share your experience with others.
Write a car review

Shortcuts

Search Shopping & Pricing Questions

CarGurus Experts

  • #1
    Bob Beaman
    Reputation
    10,620
  • #2
    James Sparrow
    Reputation
    7,650
  • #3
    Ed92626
    Reputation
    7,630
View All

Know more, shop wisely

Search

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.