Buying from a Private Seller? We'll Finance It.
You don't have to buy from a dealership to get a great rate. If you've found the right car through a private sale, a neighbor, a classified ad, a friend of a friend, your credit union can finance the purchase just like we would a dealership deal.
Why Buy Private Party in the First Place?
Whether you’re buying new, buying used, or buying from a private seller, a CFCU auto loan gets you a better rate, a faster decision, and a real person to talk to if you have questions. Apply online in minutes and know where you stand before you ever set foot on a lot.
Private-party sales often mean a lower purchase price than a dealership, since there’s no dealer markup, no reconditioning fee, and no finance-office add-ons. The tradeoff is that you’re doing more of the legwork yourself, which is exactly where getting pre-approved and knowing the process pays off.
How Private-Party Financing Works
- Get pre-approved first. Before you even meet the seller, know your approved amount and your rate. This turns you into a cash-equivalent buyer, which sellers prefer, and it protects you from overcommitting to a car you can’t actually afford.
- Have the car inspected. Unlike a dealership purchase, there’s no warranty and no dealer accountability. A pre-purchase inspection from an independent mechanic is worth the cost every time.
- Confirm the vehicle history. Run the VIN through a vehicle history service, such as CARFAX or Kelly Blue Book, to check for accidents, title issues, or odometer discrepancies.
- Agree on a price and get it in writing. A simple bill of sale protects both parties. It should include the sale price, date, VIN, odometer reading, and both parties’ signatures.
- Bring your documents to us. We’ll typically need:
- The signed title (or, if the seller has a loan on the car, a lien release or payoff letter, see below)
- A completed bill of sale
- A VIN verification, if required in your state
- Proof of insurance before the loan funds
- We handle the funding. Once everything checks out, we disburse the funds according to the agreement.
What If the Seller Still Has a Loan on the Car?
This is common, and it’s not a dealbreaker, it just adds a step. The seller will need to get a payoff quote from their lender, and the sale typically needs to cover that payoff before the title can be transferred to you free and clear. If you’re on the buying side of this situation, our loan team can walk you through how to structure the payment so everyone’s protected.
Ready to Find Your Car?
Get pre-approved before you start negotiating! It’s free, it’s fast, and it means you’ll know your number before anyone else in the conversation does.
†Interest begins accruing when funds are disbursed.
*APR = Annual Percentage Rate. Current CFCU loans not eligible for refinance at these rates. Rates and terms subject to change without notice. Rates will be determined at the time of your application based on your information and credit history. All offers subject to credit approval. Additional terms and restrictions apply, including vehicle age.