can an auto loan be used to purchase a car from private seller?

can an auto loan be used to purchase a car from private seller?

I want to purchase a used car and think that I would save money if I buy from an individual seller instead of a dealership. Will most banks allow this.

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This entry was posted on Wednesday, January 6th, 2010 at 7:22 am and is filed under auto car loan. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “can an auto loan be used to purchase a car from private seller?”

John H on January 6th, 2010 at 7:22 am

Most financial institutions will grant loans to individual Sellers and buyers. You may need to take the car to the loan officer for them to see the car.

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DH on January 6th, 2010 at 7:22 am

Yes. Banks are ok with you purchasing it from a private party, however there are some extra hoops that you may have to go through.

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