Open navigation Main Menu Mortgages
Refinancing your existing loan Finding the best lender Additional Resources
Looking for a financial advisor? Try our three minute test and then match up with an advisor today.
Main Menu Banking
Calculators to compare accounts Use the calculators and get help from bank reviews
Looking for a financial advisor? Take our 3 minute quiz and then match up with an advisor today.
Main Menu Credit cards
Compare with other categories Compare using credit Compare by issuer Get advice
Looking for the perfect credit card? Narrow your search with CardMatch(tm)
Main Menu Loans
Calculators for Auto Loans and Loans
Find the perfect personal loan in 2 minutes or less. You can also answer a few questions to receive offers with no impact to your credit score.
Main Menu for Investing
Best of Brokerages and robo-advisors . Learn the basics Additional sources
Looking for a financial advisor? Do our 3-minute quiz and match to an adviser today.
Main Menu Home equity
Find the most competitive rates Lender reviews. Calculators. base
Looking for a financial advisor? Try our three minute test and connect to an adviser today.
Main Menu Real estate
Selling a home Buying a home Locating the right agent sources
Looking for a financial advisor? Try our three minute test and then match up to an adviser today.
Main Menu Insurance
Car Insurance Homeowners insurance Other Insurance Company reviews
Looking for a financial advisor? Take our 3 minute quiz and then match up the advisor you want today.
Main Menu Retirement
Accounts and retirement plans. Get the basics of retirement calculators Other sources
Looking for a financial advisor? Do our 3-minute quiz and connect with an advisor today.
The search is open and closed.
What is the best way to purchase a car from a private owner? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial decisions by offering you interactive tools and financial calculators, publishing original and objective content. We also allow users to conduct research and to compare data for no cost and help you make informed financial decisions. Bankrate has partnerships with issuers including, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The deals that are displayed on this site are from companies that pay us. This compensation could affect how and where products appear on the site, such as, for example, the sequence in which they be displayed within the listing categories, except where prohibited by law. This applies to our mortgage or home equity products, as well as other products for home loans. But this compensation does not influence the information we publish, or the reviews appear on this website. We do not contain the universe of companies or financial offerings that could be accessible to you.
On This Page on This Page
Nopphon Pattanasri/Getty Images
3 min read Published 10 May 2022
Authored by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers with the ways and pitfalls of taking out loans to purchase an automobile.
Edited by Rhys Subitch Edited by Auto loans editor
Rhys has been editing and writing for Bankrate since late 2021. They are committed to helping readers gain confidence to control their finances through providing precise, well-researched and informative information that breaks down complicated topics into bite-sized pieces.
The promise of the Bankrate promise
At Bankrate we aim to help you make better financial choices. While we adhere to strict editorial integrity ,
this post may contain the mention of products made by our partners. Here’s a brief explanation of how we earn our money .
The Bankrate promise
Founded in 1976, Bankrate has a long history of helping people make informed financial decisions.
We’ve earned our reputation for over 40 years by simplifying the process of financial decision-making
process and giving people confidence in which actions to follow next. Bankrate has a very strict ,
So you can be sure that we’ll put your interests first. Our content is written in the hands of and edited by ,
We make sure that everything we publish is objective, accurate and trustworthy. We have a team of loans reporter and editor focus on the points consumers care about most — different kinds of lending options and the most competitive rates, the top lenders, the best ways to repay debt, and much more. So you’ll feel safe making your investment.
Bankrate has a strict policy and rigorous policy, so you can rest assured that we put your interests first. Our award-winning editors and reporters provide honest and trustworthy information to help you make the right financial choices. The key principles We value your trust. Our goal is to provide our readers with truthful and impartial information. We have editorial standards in place to ensure this happens. Our editors and reporters rigorously check the accuracy of editorial content to ensure that the information you’re reading is true. We maintain a firewall between advertisers as well as our editorial staff. Our editorial team does not receive compensation directly through our sponsors. Editorial Independence Bankrate’s editorial staff writes in the name of YOU as the reader. Our goal is to give you the most accurate advice to help you make smart personal financial decisions. We follow strict guidelines for ensuring that editorial content isn’t in any way influenced by advertising. Our editorial team is not paid directly from advertisers, and our content is verified to guarantee its accuracy. So, whether you’re looking at an article or review, you’ll be able to trust that you’re getting reliable and dependable information.
How can we earn money?
You have money questions. Bankrate can help. Our experts have been helping you master your finances for more than four years. We continually strive to give consumers the professional guidance and the tools necessary to make it through life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and reliable. Our award-winning editors and journalists create honest and accurate content to help you make the best financial decisions. Our content produced by our editorial staff is accurate, truthful and uninfluenced through our sponsors. We’re open about how we are able to bring quality information, competitive rates and useful tools for you , by describing how we earn money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We receive compensation for placement of sponsored products andservices or when you click on specific links that are posted on our site. So, this compensation can influence the manner, place and in what order products are listed, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own rules for our website and whether or not a product is available in the area you reside in or is within your own personal credit score may also influence the manner in which products are featured on this website. Although we try to offer an array of offers, Bankrate does not include details about each financial or credit item or service.
When it comes to buying your next vehicle, choices can range from traditional dealers to an online purchase that is delivered directly to your door. A private seller is an excellent option to secure a good deal, but it requires a little more thought than purchasing from an established company. 1. Lock in vehicle financing Whether you buy from a traditional dealership or from a private company walking in with the financing that you have been approved for ahead of time is the best way to save cash. Apply to at least three different lenders offering privately-owned auto loans. This will allow you to compare rates and the conditions, and go into the buying process with a firm grasp on the price . 2. Research Now that you know the amount of car you can afford, it is time to begin searching for your car. It’s unlikely that you’ll be visiting an auto dealership but will instead be looking for the car online through websites such as Craigslist or Facebook Marketplace or searching ads in your local classifieds. Look out for specifics on the mileage of each vehicle and their background. Also, conduct some research about the model of the vehicle to ensure that there is that there is no . 3. Contact the seller Once you find the vehicle, you can then reach out directly to the owner. You can ask any other questions that aren’t answered from the ad. Queries on accident history as well as numbers of owners before them, and why they are selling are great starting points. Consider a test drive of your vehicle after you have your questions answered. Plan this test drive to take place in a public location with a friend or family member. 4. Review the vehicle a good look at the interior and exterior of the vehicle prior to you take your first test drive. Unlike buying from a used dealership there is a chance that the owner didn’t check over the vehicle prior to your meeting. Test the vehicle’s electronics and check for external rust, poor tire tread or cosmetic issues. 5. Try a test drive when testing the vehicle, make sure to try and get out onto the road to observe how the vehicle performs at higher speeds. Make sure you check the brakes, and pay attention to the sounds of the engine as you accelerate. 6. Have the vehicle checked after your experience driving the vehicle it is recommended to get a trusted set of eyes on it. The owner should be asked whether the car can be taken to a mechanic. This way , you can ask them to look under the hood to ensure you don’t have any undiscovered problems. If the owner is having concerns about this request It is recommended to stay clear of the situation as they could be trying to conceal a problem with the vehicle. 7. Offer and close the deal once you are certain that the vehicle is in excellent condition and you are certain that you’d like to purchase it, it’s time to offer. You should make use of the price they have listed as a jumping-off point, make use of any issues you found in the inspection process to an incentive to negotiate a better price. Check Kelley Blue Book to see what the vehicle’s typical selling price is. Remember that the greatest strength you have when negotiating is the ability to quit the bargain. There are risks when buying through a private seller Although purchasing a car from private sellers may help you save money, it is also an opportunity to get into frauds with vehicles. Look out for like curbstoning, fake ads or possibly identity theft. These scams are easily avoided so long as you watch for the common red flags. Avoid buying from someone who appears to be too pushy. While there is emotion attached to vehicle sales, trust your instinct. Additionally, you should never purchase a vehicle sight unseen and avoid wire transfers. The bottom line Buying the vehicle through a private dealer is a great method to shop online as well as save some money. But it does come with an additional risk, so make sure to do a thorough inspection of the vehicle and leave when you see anything suspicious. Find out more
Writen by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the ways and pitfalls of borrowing money to purchase an automobile.
The edit was done by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since the end of 2021. They are committed to helping readers gain the confidence to manage their finances with precise, well-studied information that breaks down otherwise complicated subjects into digestible pieces.
Auto loans editor
Related Articles Car Insurance 7 min read Nov 18 2022
Auto Loans 4 min read Oct 11, 2022
Auto Loans 5 min read Oct 10 2022
Auto Loans 3 minutes read May 12, 2022
Legal Cookie settings Do not share my information with anyone else.
How we make money Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for the promotion of sponsored goods and, services, or by you clicking on specific links on our website. So, this compensation can impact how, where and in what order items appear in listing categories in the event that they are not permitted by law for our loan products, such as mortgages and home equity and other home lending products. Other elements, like our own website rules and whether a product is offered in the area you reside in or is within your personal credit score could also affect how and where products appear on this website. Although we try to offer the most diverse selection of products, Bankrate does not include details about every financial or credit product or service. Bankrate, LLC NMLS ID# 1427381 | BR Tech Services, Inc. NMLS ID #1743443 |
(c) 2023 Bankrate, LLC. The Red Ventures company. All Rights Reserved.
If you beloved this write-up and you would like to get more info pertaining to payday loans online same day michigan kindly pay a visit to our own web page.