Okay, here's my deal.... My credit sucks (hence the reason I hang around this place) and I found a car that I am interested in buying. It's NOT from a dealer, its from the owner.... Is there any way to get any kind of loan from ANYWHERE!?!?! My bank only offers LofC's and SECURED loans--Now if I had the $4K to use as collateral, I wouldnt need to borrow the moeny from them! I dont so much care about APR's as I can pay back the $4k in about 6 months...I just need access to that cash now.... Any advice or am I just basically screwed?
Ask the owner if he/she will finance it for you. If so, draw up an agreement with the interest rate, paymets, and other terms. They will stay as a lienholder on the title of the car, and your insurance would list them as first for a decreasing amount based on the balance still owed on the car. Not many people would do this, but you never know. Can't hurt to ask them. L
You can ask the bank if they would secure the loan with the car title.Depending on the value of the car they might consider it.
try your insurance agent.many insurance companies can make auto loans.i bought a truck through a local loan shark/auto dealer and then refinanced through my insurance co.
