Private Auto Financing For The Vehicle Of Your Choice
A private party car loan is used to buy a vehicle from either an individual seller or from a dealership
. This type of loan is sought by a used car buyer independent of the dealership. Private auto financing is similar to a traditional auto loan you would get through a dealership but there are some differences.A vehicle bought either from a private seller or from a dealership can be financed thru a person to person used auto loan. It can be likened to a conventional car loan with respect to most of the aspects except for minor differences. Private party loan terms are typically 24 36 months as compared to 60 months on conventional loans. This makes monthly payments a higher amount but compensates by saving a huge amount on the total interest paid. Online applying for private party car loans is easy and Loans Store has a strong nationwide network of lender who can match your requirements easily.
Guaranteed approval auto loans are possible before selecting the car of your choice. Prior approval gives you cash to powerfully negotiate a winning deal in your favor. Also you can probably afford a more expensive car. Party auto loans help individuals save thousands of dollars when they buy a car from a private seller.
For good or bad credit or even car loans without cosigner if the car price and its loan value are nearly same auto finance companies may also help. So if you are above 21 yrs and have a fair credit you need not face much of a problem. Always offer less than what you agree to pay for a vehicle eventually. Haggling for a price is a must and willing to walk away from a higher price shows determination.
What you can do is visit Kelly blue book at www.KBB.com and find out the fair market value of the vehicle in question. One tip to remember is that the fair market value is always less than the retail value of the vehicle. Check out the loan value if it is less than the private party or retail value then you can proceed with your plans. Next visit carfax.com and do a record check of the vehicle at a cost of about $25. The information on the vehicle can help with your decisions regarding pricing and purchase.
Qualifying for a bankruptcy auto loan car loan during bankruptcy depends upon the chapter of bankruptcy that you filed. Chapter 7 bankruptcies should have no trouble qualifying for car loan; those who have filed Chapter 13 bankruptcies, and are still in the process of paying off their debts will have to ask the permission of their trustee and be officially allowed to take out a loan according to their financial budget and the repayment plan already set up through the court for their debts.
by: Shelin Michel