Key highlights
- Plenty of lenders fund private sales for eligible applicants
- Lenders confirm the vehicle is free of encumbrances
- Payment is often arranged directly to the seller
- Private sales rarely include a dealer warranty — do your checks
- Simon arranges finance with a no-impact soft-check quote
Buying privately can mean a better price, but many business owners assume finance is only available through dealerships. In fact, plenty of lenders will fund a private sale for eligible applicants. Overdrive helps you navigate the process and compares lenders who support private purchases.
Can you finance a private-sale car?
Many lenders accept private-sale vehicles for commercial finance, though the process involves a few more checks than a dealer purchase. Expect verification of the seller, the vehicle and any existing finance owing on it, subject to lender criteria.
How does a private sale differ from a dealer?
With a private sale, the lender typically confirms the vehicle is free of encumbrances and may arrange payment directly to the seller. Having the vehicle details, a roadworthy where required and the seller's information ready helps things move smoothly.
What to watch with a private car sale?
Private sales usually do not include dealer warranties, so due diligence on the vehicle is important. For any GST or tax questions on a private business purchase, check with your accountant or registered tax adviser.
Found a private deal you like? Simon can arrange finance and provide an obligation-free quote, a soft check that won't affect your credit score. Contact Overdrive to make your private purchase happen.
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