Buying a car from a private party. What info do I need about the car to secure a loan?
Question by mike: Buying a car from a private party. What info do I need about the car to secure a loan?
I’m buying a car from a friend of mine for $ 25,000. I’m paying $ 10,000 of my own cash and securing a loan of $ 15,000 from my bank. What info do I need to bring to the bank tomorrow to secure the loan? Do I need any info on the car itself? If so, what exactly? My friend has the car financed, so do I need info on his finance company? Thanks!
Answer by Uncle Jed
All you need is the info on the car. Make ,model, year and mileage. Also the vin# And you may need info about where he has it financed depending how your bank wants to make out the check……………md
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