How to buy a car from a private seller

What to know when buying a car from a private seller

You’ve shopped around and found the perfect car. Now what? There are key steps in the process but finding financing and getting pre-approved – or better yet, approved – is always top of mind. Get tips on buying a car from a private seller and consider a personal loan for your purchase.

Personal loan details and benefits

Quick and easy

A personal loan can give you quick access to funds for your car-buying needs. We consider your credit score, debt-to-income, credit history and other factors when making approval decisions. The final loan amount, annual percentage rate and estimated monthly payment may vary based on your credit score and other credit qualifiers.

If you’re a U.S. Bank customer, you may borrow at least $1,000 up to $50,000. Not a U.S. Bank customer? You may be able to borrow up to $25,000.

As low as 8.99% APR1

If approved, you'll pay the same amount every month for a term of 12 to 84 months (maximum 60 months for non-customers), with a fixed annual percentage rate (APR), ranging from 8.99% to 24.99% APR.1

No hidden costs or fees

When you take out a personal loan, you’ll pay no origination fees and there is no prepayment penalty. You’re always free to make loan payments ahead, in part or in full.

No collateral required

A personal loan doesn’t require your home or car as collateral, so you won’t have to deal with inspections or appraisals.

Not a U.S. Bank customer? Explore our checking account options.

Use this personal loan calculator to estimate your monthly payment.

Just answer a few quick questions and we'll give you a personalized estimate.

What’s your desired loan term?

Enter a loan term from 12 to 84 months.
Choose a credit score range.

How do you get a personal loan?

Follow these 3 easy steps to help you get a personal loan.

Step 1: Check your rate.

Check your personalized rates. We’ll use some information about you to do a soft credit check, which will not affect your credit score.

Check your rate
Previous step Next step

Already applied? Get more answers about personal loans.

Featured articles

Find out more about buying a car and other financial resources.

How to choose the best car loan for you

Shop around and other tips to help put you behind the wheel.

Buying a car: new vs used?

Common considerations before grabbing the keys.

What’s a good credit score?

Know your score range before applying for loans and lines of credit.

Get started or contact us.

Check your rate
Apply now
Request a call
Use personal loan calculator
Start of disclosure content

Disclosures

  1. Footnote 1

    As of February 12, 2024 the fixed Annual Percentage Rate (APR) ranged from 8.99% APR to 24.99% APR, and varies based on credit score, loan amount, purpose and term. Minimum loan amount is $1,000 and loan terms range from 12 to 84 months (up to 60 months for non-customers). The lowest APR in the range is available on loans of $10,000 or more with a term of 12-36 months, a credit score of 800 or greater, purpose of auto purchase and includes discount for automatic payments from a U.S. Bank or external personal checking or savings account. Automatic payments and U.S. Bank personal checking or savings account are not required for loan approval. Electronic funding to a non-U.S. Bank account requires verification and can take one to four business days. Not all loan programs are available in all states. The Consumer Pricing Information disclosure lists fees, terms, and conditions that apply to U.S. Bank personal checking and savings accounts. This disclosure can be obtained by visiting a U.S. Bank branch or calling 800-872-2657. Loan payment example: on a $10,000 loan for 36 months, monthly payments would be $317.95 and APR of 8.99% with automatic payments from a personal checking or savings account and for the purpose of auto purchase. Maximum loan amounts may vary by credit score. Loan approval is subject to credit approval and program guidelines. Interest rates and program terms are subject to change without notice.

    Return to content, Footnote 1

Installment loans are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.