Private Party Car Loans

Applying for a loan to purchase a vehicle from a private seller isn't much different than applying for any other type of auto loan. While you can increase your chances of receiving the most competitive rates by having a high credit score, a good score isn't a qualification requirement. You can still get a loan with a less-than-perfect credit score.

myAutoloan's online application is already fast, but you can speed up the application process even further by having the following information on hand:

• Personal information: Name, address, time at address, and Social Security number
• Employment information: Occupation, employer, time at employer, and gross monthly income
• Loan information: The estimated amount you want to finance and your desired loan term (the number of months you want to pay your loan back)
• Vehicle information: The vehicle's year, make, model, trim, and mileage, plus the name of the bank or finance company the seller is making payments to (if applicable)
• Seller's information: The seller's name and phone number

There are a few general requirements you must meet in order for your application to be successfully processed. You may still submit a loan application even if you do not meet all of the criteria below, though we may not be able to identify a lender or as many as 4 lenders that match your profile.

• Age: You and/or your co-qualifier must be at least 18 years old
• Income: You must have a minimum income of $2,000 per month or $24,000 per year
• Bankruptcy: You must not have an open bankruptcy
• Location: You must reside in a state where myAutoloan currently does business (we do business in 48 states, but not in Alaska or Hawaii)

• DO calculate a loan amount you're comfortable with, just like you would when purchasing a new or used car from a dealer. Use our calculators and estimators to get a feel for the interest rate, loan amount, and payment amount you're comfortable with.
• DO negotiate and agree on a sale price with the seller before you show off your check. If required by your state, complete a bill of sale too. Without it, you could have trouble registering or titling the vehicle in your name. Check your state's requirements for person-to-person car sales.
• DO discuss with the seller how you'll be transferring the funds to them. Depending on the situation, the lender may send the loan amount to a bank account of your choice, to the seller directly, or to the seller's lien holder or bank.
• DON'T hesitate to ask plenty of questions. Even though the owner's CARFAX (vehicle history report) looks clean, incidents can go unreported and may not show up on the report. You can also check for open recalls at NHTSA. Take your time inspecting the vehicle and have it checked out by a mechanic you trust.
• DON'T bring cash or meet the seller at night. Both put your safety at risk.
• DON'T forget to do your homework! As the buyer, you'll have a bit more paperwork to take care of than the seller. The vehicle will need to be retitled and registered in your name, plus any taxes will need to be paid. Check your state's vehicle title and registration requirements at USA.gov, as the process varies by state.

Choose myAutoloan for speed, security, and simplicity. The application takes about two minutes and is only one page long. It uses 128-bit encryption to keep your personal information confidential. Our lenders return competitive offers, often within minutes of receiving your application.

myAutoloan helps drivers save time and money when financing a vehicle from a private seller. Apply today to compare your offers.

Today's private party car loan rates start as low as 6.94% APR^±. Your actual rate depends on your credit profile, loan term, and lender. Estimate your payment.