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Can I Get Finance on a Private Car Sale?

Tim Carpenter, Dedicated car finance expert
Written by Tim Carpenter
Edited on

If you are looking to buy a new or used car, you might already have scoured your local dealers to no avail, instead finding the perfect car for you being advertised privately.

If you are looking for a hire purchase agreement, where the loan is secured against the vehicle, you will need to choose a car from a reputable UK dealership.

However, we can also offer personal loans, whereby the loan is unsecured, and you are then free to use the funds to finance the private sale of a vehicle.

We are in touch with finance companies prepared to advance a loan for such a private sale and many of the considerations which apply to any other form of car finance are the same. Chief of these is your credit history, and whether this is good, fair or bad.

While we do consider all credit circumstances, you are likely to need good or fair credit for a personal loan. If you do have poor credit but have your sights set on a vehicle that is on sale privately, we do have guarantor loan options that may be of interest to you.

Once you have the personal loan in place, you can use the funds to purchase your new car – or perhaps you’ll go for a motorbike, motorhome or van instead!

Get a quote No impact on your credit score

Rates from 6.9% APR. Representative APR 27.4%

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Tim Carpenter, Dedicated car finance expert
Tim Carpenter Car Finance Expert
5 Years
Total cost of credit £ XXX.XX
Total repayment £ XX,XX.XX
48 monthly
payments of
£ 245 98

Rates from 6.9% APR: the exact rate you will be offered will be based on your circumstances

Representative example: borrowing £6,500 over 5 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £188.74 per month, with a total cost of credit of £4,824.37 and a total amount payable of £11,324.37

Rates may differ as they are dependent on individual circumstances. Subject to status.

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