Is a private party auto loan right for you?  Well, if you want to avoid the dealership “experience” and have the confidence to find and evaluate vehicles - it probably is. You can save a lot of money on the price of a vehicle when buying a used car from private party, i.e. a friend, neighbor or someone on Craigslist.

Private party auto loans can also be known as a person to person auto loan.  For a simple way to get started, myAutoLoan.com can provide private party auto loan offers – even for bad credit – with one FREE application.  

What’s the deal with private party auto loans?

The good news:  It's all in your hands. When buying a used car from private party, you can buy the type of car you want, at the best price that you find.  You’re in absolute control.   You don’t have to hassle with a dealership or pay for the reconditioning, dealer markup and other fees. 

The bad news:  Well, it’s all in your hands.  Before buying a used car from private party , you need to be sure to get the car checked out by a trusted mechanic.  You also should be prepared to prove your income, show utility bills and other required loan documentation, and have around 20% down payment for the vehicle to qualify for private party auto loans. For bad credit situations, more may be require.  You will also need to handle transfer of title with DMV, handle the insurance and make sure the lender has everything they need to fund the loan. 

So basically, buying a used car from private party is all on you.  If you’re comfortable with the added responsibility, private party auto loans are a great option. You could easily save a few thousand dollars on the price of the vehicle if you do your homework and shop around.  You can visit our partner myAutoloan.com and get up to 4 loan offers on private party auto loans with one application.  It’s a great place to start.

If you’re looking for private party loans far bad credit, it can be done.  However you may need to put more money down and/or prove at least $1800 in monthly income to qualify.  Before you prejudge yourself and your credit, get a copy of your credit score and credit report, then apply at MyAutoLoan.com to get more details.