Car Loan to buy from private owner

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IslandPilots

(@IslandPilots)

Posts: 80

Trusted Member

Topic starter

Has anyone ever taken out a automotive loan from a bank here to buy a car from a private owner? Looking for finance 5000 of a 8000 dollar car. I have never financed a car that was not purchased from a dealer before. Thanks for any advise you may have.

Posted : December 24, 2010 1:20 am

Linda J

(@Linda_J)

Posts: 3919

Famed Member

We used a personal loan from Banco Popular to buy a car. We were told they do not finance used vehicles, but our credit was good enough for a personal loan of just about that amount.

Posted : December 24, 2010 9:37 am

billd

(@billd)

Posts: 1085

Noble Member

THAT IS THE WAY TO GO. BE VERY CAREFUL OF THE TERMS IF YOU TAKE A LOAN FROM THE OWNER. I WOULD GET A LEGAL OPINION.

BILLD

Posted : December 24, 2010 10:56 am

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Car Loan to buy from private owner

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