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Private Party Auto Loans

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Social media, online classifieds and auction sites, newspapers, friends or neighbors all provide car buyers with more opportunities to find used vehicles for sale.

With all of these opportunities, there may be more need for private party auto loans–sometimes called person-to-person auto loans–now than ever before.

Private party auto loan tips

  1. Consider completing a bill of sale
    • Provided by your state Department of Motor Vehicles
    • Documents transfer of ownership
  2. Run a vehicle history report at With only the vehicle’s VIN, the report will tell you:
    • If the vehicle was salvaged, stolen or recalled
    • The number of previous owners
    • If the vehicle ever failed inspection
    • If the odometer was ever set back
  3. Ask your mechanic to inspect the vehicle

Three easy steps to private party auto loans

Step 1: Determine your budget

After you decide what kind of vehicle you need, you’ll want to determine how much to spend.

In addition to the price of the car, remember to factor ownership costs into your budget.

Besides monthly payments, what other costs are there to owning your vehicle?

  • State taxes (where applicable)
  • Title and license fees
  • Registration fees
  • Insurance
  • Fuel
  • Maintenance and repairs

Consider these costs, and use our auto loan calculator to help determine what you can afford and how much private party auto loan financing you’ll need.

Step 2: Find the right person-to-person auto loan lender

If you’re not paying in cash, you’ll need to look at private party auto loans.

Private party auto loans are a convenient way for buyers to find the auto financing they need. Unlike dealer financing, private party auto loans allow you to choose and work directly with your own lender to buy your car.

Step 3: Apply for private party auto loans

It’s quick, it’s easy and there’s no application fee to apply. Call us at 1-866-452-3413 to talk with our private party auto loan specialists, or start your online application now.

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With private party auto loans from Wells Fargo, you’ll get:

  • Fast credit decisions and loan processing
  • Competitive rates
  • Secure online account access at Wells Fargo Online®