What if the vehicle is privately owned?

[S2_VR_]

hey guys... just trying to gather some info...

when a bank gives you a loan and asks for the dealers name, bsb, account, number etc..


wat happens if the car is privately owned? that you want to buy?..

or do you HAVE to buy from a dealer with a secured loan??>..

[STEALTHY™]

There are alot of conditions......

If the loan is a 'car' loan, or a personal loan. If a car loan, the actual car will have to be the collateral, and have full comp insurance.

When buying privately, all they'll do is make the bank cheque out to the current owner (or if the car is already under finance, out to the current finance company)

[blackdoggg]

When i went to get one thru comm bank, i could only get car loan if it was from a dealer, if it was preivate if had to be a personal loan. That was my case atleast.