Why Finance a Used Car Through PrivateAuto?
Getting a private party loan is either not available, or it’s a hassle. With the PrivateAuto app, applying for financing has never been easier.
1. Convenience. Get your loan approved and go shopping for used cars, all on the
same platform.
2. Fast auto loan approval. Your funds can be in your PrivateAuto Pay account within a few days.
3. Easy transactions. Send Funds instantly to complete the deal in the parking lot
Car Loan Calculator
Estimated monthly payment
$22.40/mo
for 2 years
Loan Summary
Vehicle Budget
Down Payment
$2,000
-$1,500
Total Loan Amount
Monthly Payment
$500
$22.40/mo
*Disclaimer: The estimated payment is calculated using the vehicle price (excluding taxes and fees), along with the applicable lender rates for eligible buyers, the duration of the loan, and any trade-in value or down payment provided by the buyer. The acceptance of these terms by the seller is necessary for the agreement. Please note that the specific terms may differ.
Get a Used Car Loan in 4 Easy Steps
Apply
Get Approved
Get Funded
Buy a Car
With our integrated financing partner, getting a loan for a private-party used car purchase has never been easier. After you get approved, funds hit your PrivateAuto Pay account in as little as 2 days. Then they’re ready to transfer instantly to the seller.
You can browse used cars for sale by owner until you find the vehicle you like. Then you can get approved, after which you can schedule the test drive and close the deal. It’s so smooth, you won’t believe it.
Auto Financing FAQ
What is PrivateAuto?
PrivateAuto is the only transactional marketplace for buying and selling cars privately.
Other marketplaces are actually “meeting places” because they are non-transactional; they don’t actually provide the tech infrastructure to get a deal done.
PrivateAuto provides a marketplace, secure communication, a payment gateway, and many other features that allow a private party to easily buy or sell a vehicle. No exposing of personal information to strangers. No bloated costs. No inconvenience. Just pure transactionality.
How is PrivateAuto’s car loan system better than other auto financing?
PrivateAuto does not actually make car loans; instead, we have integrated USALLIANCE Financial, a federally insured credit union, into our application. When you apply for a loan in the PrivateAuto app, you’re applying to USALLIANCE Financial.
While USALLIANCE Financial offers competitive rates, the real gamechanger is your ability to find your vehicle, finance your vehicle, and buy your vehicle on a single platform, quickly and conveniently.
There’s nowhere else you can do all of these functions on a single app for a private vehicle purchase. Normally, you’d be running around trying to coordinate with multiple parties to get your car financed and the deal done. We’ve changed that, and you’ll never want to go back after experiencing the convenience of PrivateAuto.
What is PrivateAuto Pay?
PrivateAuto Pay is our revolutionary payment gateway.
– Instantaneous transfers 24/7/365
– Transfer up to $1M
– Free
There’s nothing like it. PrivateAuto Pay gives you escrow-like safeguards in the palm of your hand and lets you purchase a vehicle remotely.
Why is it better to buy a car from a private seller?
There are three primary reasons why buying from a private seller is often a better option than buying from a dealer.
1. More inventory. There are more used cars available from private sellers than from dealers, meaning you have more selection.
2. Better value. Dealers need to buy low and sell high to stay in business. On average, you’ll get a better deal by cutting out the middleman. What’s more, dealers often charge “documentation fees” that further inflate your out-of-pocket costs.
3. Quality. Many private-sale cars are being sold by first-time owners. This means you’re buying from someone who knows the vehicle’s history and has hopefully maintained the car well. Dealers, in contrast, usually have little connection to the vehicles they sell.
We’ll admit that dealerships can add some convenience to certain aspects of the transaction process. Traditionally, private-party car sales have been rather complicated. That’s why we created PrivateAuto. We give you dealer-like convenience in the palm of your hand, so you can get a private-party transaction done from beginning to end.
How does PrivateAuto help vehicle sellers?
PrivateAuto gives you all the tools to sell your car securely and conveniently.
– Buyers are verified to eliminate scammers
– Verified funds weeds out tire-kickers
– Secure communication through in-app messaging (no exchanging of contact info)
– Secure in-app scheduling of the test drive
– Easy transaction walk-through in the PrivateAuto app makes the deal flow effortlessly for both parties
– In-app electronic signing of an official bill of sale for your state gives legal protection for you and the buyer
– Receive payment instantly with PrivateAuto Pay
There’s nothing else like it. List your car for sale today and experience the magic of PrivateAuto.
What is the best time of year to buy a car?
The best time of year to buy a car from a private seller is typically the winter months, specifically January and February. This is because fewer people buy cars during the winter, so sellers may be more motivated and willing to negotiate on price.
If you’re looking to buy a used car in the spring, summer, or fall, there’s no compelling reason to hold off until winter; the difference in price is likely to be marginal at best.
Can I get a 0% APR loan?
Getting a 0% interest loan is not realistic for private vehicle purchases. At times, manufacturers do offer 0% APR loans on some new vehicles via their captive financing arm, but these 0% APR offerings come and go at the whim of the manufacturer based on the current interest rate and the company’s motivation to clear out specific inventory.
Can a good credit score help me get a lower interest rate?
Generally, the higher your credit score, the lower the annual percentage rate (APR) you can get on your used car loan. Keep in mind that car loan rates change over time.
What is the best vehicle loan term?
Shorter vehicle loan terms are better, so long as you can comfortably handle the monthly car payment. While longer terms may seem attractive due to the lower monthly payment, you end up paying more in interest over the life of the loan.
If you want to estimate your monthly payments for different loan terms, feel free to use our free auto loan calculator.
*Account services are provided by USALLIANCE Financial, a licensed and insured banking institution. PrivateAuto does not facilitate or handle any funds throughout the transaction. All funds are in the custody of USALLIANCE.