I want to purchase a used car and think that I would save money if I buy from an individual seller instead of a dealership. Will most banks allow this.
Can an auto loan be used to purchase a car from private seller?
Most financial institutions will grant loans to individual Sellers and buyers. You may need to take the car to the loan officer for them to see the car.
Reply:Yes. Banks are ok with you purchasing it from a private party, however there are some extra hoops that you may have to go through.
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