PRIVATE SALE CAR LOAN COMPARISON
PRIVATE SALE CAR LOANS AUSTRALIA
Found a car being sold privately?
Buying a car from a private seller can help you find a better vehicle at a more competitive price. However, arranging finance for a private sale can involve a few more steps than buying through a dealership.
iCREDIT can help you compare private sale car loan options from a panel of Australian lenders. We’ll explain the interest rates, fees and repayments so you can make a more informed decision before applying.
Loans available from $5000
Loan terms from 1 to 7 years
Cars, SUVs, utes, 4WDs, hybrids and electric vehicles
Loan comparison without affecting your credit rating
Start Your Loan Comparison
Tell us what you’re looking for. We’ll review suitable options from our lender panel and contact you with an indicative comparison.
This is an initial enquiry—not a lender application.
We will not submit your information to a lender without your approval.
What Is a Private Sale Car Loan?
Private sale car finance may be available for vehicles advertised through
Carsales
Facebook Marketplace
Gumtree
Online classifieds
Car clubs
or private local sellers.
Because there is no dealership involved, the lender will normally need to check the vehicle and confirm that the person selling it is the legal owner.
iCREDIT can help you understand the lender’s requirements and coordinate the finance process between you, the lender and the seller.
Compare More Than the Interest Rate
Interest Rate
Comparison Rate
Lender Fees
Repayments
Total amount repayable
Loan flexibility
How to Finance a Car From a Private Seller
1.
Request a loan comparison
Tell us how much you want to borrow and provide some basic information about your situation.
Requesting an initial comparison through iCREDIT does not affect your credit score and does not automatically submit an application to a lender.
2.
Review your options
We compare suitable options from our lender panel and explain the available:
- Interest rate
- Comparison rate
- Lender fees
- Regular repayments
- Loan term
- Estimated total repayment
3.
Apply for pre-approval
If you are happy with one of the available options, you can choose to proceed with a formal application.
A pre-approval may help you understand your purchasing budget before you find a car.
4.
Sign and settle the loan
Once the loan receives final approval, the lender will issue the loan documents for you to review and sign.
For many secured private sale car loans, the lender pays the approved funds directly to the verified seller.
Private Sale Car Loan Options
Secured Car Loan
Vehicle used as security
With a secured car loan, the vehicle is used as security for the loan. This type of loan may offer a more competitive interest rate, but the car must meet the lender’s requirements.
The lender may place limits on the vehicle’s age, condition
Unsecured Car Loan
No vehicle security
An unsecured personal loan does not use the car as security.
This may be an option for an older or unusual vehicle that does not qualify for a standard secured car loan. However, unsecured loans may have higher interest rates or different lending requirements.
Business Vehicle Finance
Work Related
If the vehicle will be used mainly for business, commercial car finance may be available to eligible ABN holders, companies and trusts.
Speak with your accountant or registered tax adviser before choosing a business finance structure.
Estimate Your Car Loan Repayments
Loan Calculator
Estimate repayments instantly with adjustable interest rates.
Compare Your Loan Options
See how repayments may vary across different credit profiles. These examples are indicative only.
Excellent Credit
OK Credit
Below Average Credit
Loan Snapshot
Private Car Finance Australia-Wide
iCREDIT assists eligible customers across Australia, including:
Queensland
New South Wales
Victoria
Western Australia
South Australia
Tasmania
Australian Capital Territory
Northern Territory
Whether you are buying a car in Brisbane, the Gold Coast, Sydney, Melbourne, Perth, Adelaide, Hobart, Canberra, Darwin or regional Australia, most of the application process can be completed online.
Buying interstate may involve additional transport, inspection and registration costs. Make sure these expenses are included in your total budget.
CUSTOMER REVIEWS
Trusted by Australians nationwide for car loan comparisons, helping borrowers find competitive rates and suitable finance options
Customer Reviews
Why Compare Private Sale Car Loans With iCREDIT?
Every lender assesses applications differently, but common factors include:
- Access to more than 50 lenders
- No credit impact for comparison
- Understand the full loan cost
- Help with the private sale process
- Personal & Business Loan Options
Car Loan Frequently Asked Questions
Yes. Many Australian lenders provide finance for eligible vehicles purchased privately. The lender must assess both your application and the vehicle before granting final approval.
Yes. iCREDIT will need to verify the vehicle, seller and transaction regardless of where the car was advertised.
No. Requesting an initial comparison through iCREDIT does not affect your credit score. A formal lender application may involve a credit enquiry after you authorise it.
For many secured car loans, the lender pays the approved funds directly to the verified seller. If the seller has finance owing, some of the funds may be paid directly to their current lender.
Not always. Some eligible customers may be able to borrow the full accepted purchase price.
You may need a deposit if the purchase price is higher than the lender’s accepted vehicle value or approved loan amount.
Some lenders may consider customers with previous credit problems or limited credit history. Approval, rates and conditions will depend on the lender’s assessment.
If the car is too old for a standard secured car loan, a specialist secured loan or unsecured personal loan may be considered.
Approval time depends on the lender, your circumstances and whether all required documents have been supplied.
Some lenders may require an inspection for older, modified or higher-kilometre vehicles. Even when it is not required by the lender, arranging an independent mechanical inspection is strongly recommended.
The seller will normally need to provide a payout letter.
At settlement, the outstanding loan may be paid directly to the seller’s lender, with the remaining purchase amount paid to the seller.
Private sale car loan rates are not the same for every customer.
The rate offered by a lender may be affected by:
- Your credit history
- Your income
- Your employment stability
- Your existing debts and expenses
- The amount you want to borrow
- Your deposit or contribution
- The age and value of the vehicle
- The length of the loan
- Whether the loan is secured or unsecured
Do not compare loans using the advertised interest rate alone.
The comparison rate, establishment fees, monthly fees, early-repayment conditions and total amount repayable can all affect the true cost of a car loan.
A PPSR search can help identify whether a vehicle:
- Has a registered financial interest
- Has been reported stolen
- Has been recorded as written off
You will need the correct VIN to complete the search.
The Australian Government recommends completing a PPSR search before buying a used vehicle and conducting another search on the day of purchase.
The documents required can vary between lenders.
As the buyer, you may need to provide:
- Driver licence or other identification
- Recent payslips or proof of income
- Bank statements
- Employment details
- Details of existing loans and expenses
- Proof of your residential address
The lender may also request the following vehicle and seller information:
- Current registration certificate
- Vehicle identification number or VIN
- Make, model, year and kilometres travelled
- Photos of the vehicle
- Seller’s identification
- Signed private sale invoice or purchase agreement
- Seller’s verified bank account details
- Current finance payout letter, if money is owing
- Roadworthy certificate or mechanical inspection where required
Compare Car Loans Before You Apply
Review suitable options from iCREDIT’s lender panel with no obligation to procees.
A private sale car loan pre-approval can help you understand your budget before searching Carsales, Facebook Marketplace, Gumtree or other private vehicle listings.
Call: 1300 350 118
