When you want to buy a car from a private seller can you get an auto loan through your bank?


Can you get financed for a car without buying a car from a dealer? I want to buy a car from craigslist but don’t have the cash. Should I get a personal loan or car loan? How do people do this?!?

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5 Comments

  1. exodust20 says:

    Yes you can, but keep in mind a bank won’t do a loan on something with high miles. Check with your bank on what there criteria is.

  2. manffredd says:

    Yes you can. A car loan uses the car you’re purchasing for collateral. If you get a personal loan you either need other collateral or really good credit. The lending association will have a max amount they will loan for the car and you would have to carry collision and comprehensive insurance because bank is the legal owner of the car

  3. Heather says:

    Yes, I’ve only bought one car privately, but got a loan from my bank the same as I did when I bought through a dealer. If you don’t have a normal loans person at your bank, just give your bank a call and they will put you through to someone who will explain the process and what they need.

  4. Larry E says:

    You sure can.

  5. melville248 says:

    Of course you can. Just go to your bank, you will probable need to get a auto loan and the car your purchasing will be your collateral. A loan officer at your bank will walk you through it. Good luck.

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