Are you considering purchasing a vehicle through a private seller? If so you may need to organise finance? As you know, some banks and finance companies may have restrictions when providing finance for private sales. Often your own bank will offer personal loans for car purchases but you are left wondering if there are other lower rate options available?
Kiwi Car Loans is here to help you secure a better deal!
At Kiwi Car loans, we have a panel of lenders that will provide great low rate car loans for private sales.
Here a few points to consider:
- Lenders will require some information from the seller to prove they are the rightful person to sell the vehicle and funds from the loan get disbursed correctly, paying out any existing finance on the vehicle.
- Lenders that provide secured car loans on private sales usually will not issue a bank cheque, as that vehicle is the security offered on the loan.
- The lending criteria is generally the same as if the vehicle is being purchased through a dealer, however some lenders may increase the interest rate marginally for private loans. Not all lenders increase their rates for private sale car loans, so it is always a good idea to find a finance broker such as Kiwi Car Loans that understands the differences between lenders to be sure you can get the best deal for yourself.
- The information required to establish that the vendor selling the vehicle is the correct person:
- Registration Number of the vehicle being purchased.
- This then allows Kiwi Car Loans to gather the required information needed to finalize the transaction.
Simply Contact Kiwi Car Loans to make the process nice and easy. Talk to us today on 0800 008 888 to take the hassle out of organising your next Car Loan. Kiwi Car Loans can also take the stress out of the process and deal with the seller directly for you.