What Is a Private Party Used Car Loan?
A private party used car loan is the type of finance you will need if you are purchasing a second hand vehicle through a private sale as opposed to a used car dealer. There are several things that you will need to be aware of when getting finance for a car that you are buying privately. For this reason it is a good idea to go with a finance company who offers these specific loan products as they will have the experience to assist you with your finance and help you choose the right loan options. There are a large number of different companies, including your large banks and financial institutions and many smaller non-bank lenders, who will be able to provide you with a private party used car loan. Gaining a good understanding of how a private party used car loan works will assist you in choosing one that is right for you. One thing that you will need to know about a private party used car loan is that generally you will not be able to borrow 100% of your purchase price. This is because,
