Can I Get Finance on a Private Car Sale?

Tim Carpenter
Written by Tim Carpenter

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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96% of our customers recommend us: † Based on feedback left on independent review site Reviewcentre. May 2019.

CarFinance 247 is a trading name of CarFinance 247 Limited, a credit broker and insurance intermediary, and 247 Money Group Limited (247 Money), a lender. Both companies are part of the 247 group of companies.

CarFinance 247 is authorised and regulated by the Financial Conduct Authority under reference number: 653019. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 06035525. Data Protection Registration Number Z1897658.

247 Money is authorised and regulated by the Financial Conduct Authority. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 10989530. Data Protection Registration Number ZA456831.

All finance is subject to status and income. Written quotations on request. CarFinance 247 can introduce you to a limited number of finance providers, including 247Money, based upon your credit rating and will receive commission for such introductions.

† We do not charge a fee for arranging the finance, however some of our lenders may charge a fee. Your account manager can provide more information on this

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