Key highlights
- Private-sale purchases are commonly financed
- Lender verifies the seller, vehicle and clear title
- Arrange indicative finance before you commit
- One broker arranges finance across 80+ lenders
Private sales can offer good value, but financing one works a little differently from buying at a dealer. Lenders take extra steps to verify the vehicle and the seller. Here is how to approach a private-sale purchase.
Why is financing a private sale different?
With no dealer in the middle, the lender handles verification directly, including confirming the seller, the vehicle details and that it is free of existing finance. This is a normal part of the process and protects both you and the lender, subject to lender criteria.
What do you need to finance a private sale?
Expect to provide the seller's details, the vehicle's information and a description of how it will be used in your business. The lender usually pays the seller directly on settlement rather than handing funds to you, which keeps the transaction clean.
How do you time private-sale finance?
Because verification takes a little longer than a dealer deal, it helps to arrange indicative finance before you commit to a private seller. That way you know your position before money changes hands.
How do you finance a private purchase?
Found a vehicle privately? Simon at Overdrive can arrange finance across 80+ lenders and guide the process. Request an obligation-free quote. It is a soft check that will not affect your credit score.
Ready to compare cheap rates?
Free quote in minutes, decisions in 24–48 hours. No credit-score impact to enquire.