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Private Party Car Loan
Posted on 12/3/13 at 8:12 am
Posted on 12/3/13 at 8:12 am
I'm looking to buy a car private party, but don't want to pay cash. Is it hard to approach a bank for a modest (10k) loan?
I am looking at a car about an hour away (Charlotte), do I drive the new car to a bank or what?
I am looking at a car about an hour away (Charlotte), do I drive the new car to a bank or what?
3
Posted on 12/3/13 at 9:32 am to CidCock
Call your bank first. They will need information on the vehicle (VIN, mileage, etc) and your credit information to determine how much they can lend. Assuming good credit and car is not overpriced (can usually loan up to 110% of book value) then it is generally pretty easy process.
At that point they will need a purchase agreement and will give you further instructions on how to proceed with the loan. They will probably send you to a notary's office with a check to finish the paperwork.
At that point they will need a purchase agreement and will give you further instructions on how to proceed with the loan. They will probably send you to a notary's office with a check to finish the paperwork.
Posted on 12/3/13 at 10:18 am to CidCock
look at pen fed
Posted on 12/3/13 at 10:59 am to CidCock
Did this with a car a couple states away. Credit Union gave me a blank check to write. Really easy.
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