We Finance Used-Car Sales From Private Sellers

Did you know that Ascentra Credit Union can set you up with a low-interest car loan, even when you’re buying from a private seller? Buying from a private seller instead of a dealer can help you get the best price on a used vehicle. You’ll need to do some extra research to ensure you’re getting a good deal, but it can pay off in the long run.

Figure out how much money you can spend each month on a car payment. Then, stop in and see an auto loan specialist at Ascentra. We can help you identify how much you can afford to buy to stick with your budgeted monthly payment. We’ll take into account current financing rates, your credit score, car value, and other factors before determining how much you qualify for. This process is called pre-approval. It helps you when you negotiate sales price with the seller—you’re a cash buyer.

Next, peruse online classifieds until you find a vehicle you like. Arrange to meet the seller in a public place—and take someone with you for safety reasons. If you like how the car drives and looks, interview the seller about the vehicle’s history. Finally, get a car-history report and have a reputable mechanic take a look at it before you buy. One of the biggest benefits of buying from a private seller is the opportunity to negotiate price, so be fair but don’t be timid.

Once you’ve settled on a price, put the terms in writing. You also will need to figure out payment terms. If you’re getting an auto loan from Ascentra, we can write a check to the seller, or you can arrange to meet the seller at the credit union to finalize the deal.