A common enquiry we get at GetFin: “Can I get financing for a vehicle from a private seller?” And the answer is, of course, yes!

A private vehicle sale is when a consumer buys a car from an individual rather than a business or dealership. This is most likely ‘you see what you get’, thus the buyer would not normally have the right to return the vehicle, nor would they benefit from a dealer warranty.

Getting Vehicle finance for a private automobile sale

Due to the risks involved vs the warranties in place when purchasing from a dealership, many finance brokers refuse to offer loans for a private automobile purchase.
However, GetFin has over 20 years of expertise in financing car purchases, and our diverse panel of lenders and professional staff enable us to assist clients in finance high-value automobiles acquired outside of a typical dealership or auction.

When you finance a private auto sale with GetFin, you can take advantage of a number of extra checks and services that will provide you with the utmost peace of mind when purchasing a car privately.

Vehicle History

• As part of our due diligence on the vehicle being acquired, we will perform a thorough vehicle history check from HPI, which will include a check for outstanding financing on the automobile you’re purchasing.
• If we discover that there is outstanding finance, we will make arrangements to pay it as part of the procedure if necessary.

Service History

• We can assist you in arranging a technical examination of the vehicle you want to buy by suggesting a reputable third-party to conduct an inspection on your behalf.

Authenticity

• We will obtain evidence of ownership from the person selling the vehicle; to confirm that they have legal title to the car they are selling.
• If the seller requests a deposit to guarantee your purchase while you arrange finance, we may function as an intermediary to keep the deposit on behalf of both yourself and the seller – providing you both security that your money is in safe hands while the transaction is completed.

Why should you purchase a vehicle from a private seller?

There are advantages and disadvantages to buying a vehicle from a private seller; here are a few additional points to consider if you’re thinking about buying a car from a private seller:

• An added advantage of a private purchase is that you may be eligible for a transferrable warranty!
• When buying a new automobile, the manufacturer’s original or extended warranty may be transferrable to you, but it’s always worth verifying since some companies will only permit the extended warranty to be transferred to the next owner via a private sale.
  If you purchase a car from a franchised dealership, you may be required to purchase a new warranty package in addition to the vehicle itself.
• A private purchase may be less expensive than a dealership purchase.
• Cars for sale via private sellers are sometimes less costly than those for sale through a dealership.

Dealerships will very surely have done a pre-sale technical assessment of the vehicle, maybe changed consumable items such as tyres or brake discs, and will almost certainly have properly valeted the vehicle.

When purchasing a high-value automobile from a private seller, the car has most certainly been meticulously cared for by its existing owner.

So, although you may not have the dealership’s approval, you may be able to find a good example of your ideal car for less than you expect; any respectable private seller will not object to you seeking service records or appointing a third party to do a vehicle examination.

When you finance with GetFin, you also receive access to our experienced team, who can offer a value on the car you’re contemplating so you know you’re getting the greatest bargain. Not to mention that we can assist you arrange a reliable technical examination and an HPI car history check for total peace of mind.