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Where can I get an Auto loan for a private sale?
Hello,
I am looking for an auto loan to purchase a used car from a private seller. Obviously I don't want to get ripped of so I am here to ask for the best places to apply for a loan. My credit is decent for only having a card for a little over a year. I am looking for a $6000-$8000 loan. I currently bank with Wells Fargo but I was wondering if I should go to them or should if there is anywhere else I should go. I am also located in California if that matters.
Thanks
3 Answers
- ?Lv 74 years agoFavorite Answer
If you wish to finance an older vehicle, in a $6000-$8000 cost range, from a private seller your only option would be to obtain a personal loan from your financial institution. Talk to Wells Fargo. They are the only legitimate and trusted lender who may be able to help you for such a loan.
- PoppyLv 74 years ago
Go to the bank an apply for preapproval for a used car loan. They will probably require a 20-25% down payment and full coverage insurance. They will hold the title until paid off.
- 4 years ago
A bank or credit union are your only choices. Unless you've got a great steady job with good income and at least 20% down, and payments plus insurance won't be more than 1/6 of your net salary every month, don't count on getting financed.
