Hey yall ...
Im considering buying a car from a private party. I never purchased a car from a private party before where i needed to get financed. I got approved already for the loan, but im kinda iffy on buying a car with a large amount of money from somebody. I don't really know the whole process of it.

All I know is that in order for me to get a check from my credit union I need to have a "sales contract" (Im thinking a Bill of Sale right????) and proof of insurance.

Well i know a carfax is a must. Is there anything else I should be aware of???

If anyone purchased a car from a private party where you needed to get it financed can you please offer some advise on the process of buying one?Thanks

 

I recently sold my 350Z to a private party, he had to get a loan from
his credit union.

The buyer had all the paperwork done ahead of time, I went to the credit
union office with the car to meet them and close the deal.

Credit union made two cashier checks, one for Nissan Motor Credit to pay
off my loan balance (16.5K) and one for me (my 8K equity).

A week later the Nissan note was off my credit and I leased a new G35.

JR

 

please go to
http://www.carbuyingtips.com/used.htm
there's a lot of information.
All the best with your purchase.