I am young, I have limited credit, and I am trying to get a used car loan to buy a vehicle from a private party. What is the best way?

Get a pre-approved auto loan through your own credit union or personal bank. If they won't give you one...chances are you're not going to find one from a stranger, except at high interest rates. The pre-approved loan may take the form of a check with "not to exceed $12,345.00".

It requires that you write in the dealer/owner's legal name, then sign the check. I walked into a Honda dealership with mine. They were floored.

Had to call the sales manager, then the finance manager. They disappeared with the check for 15 minutes (presumably to contact somebody higher up and to verify that the check was legitimate). Drove out that night with a new car.

You have to start somewhere. Logically, this will be with the banking institution that handles your daily business.

I think you can solve your problem from the link which is given in the source. From here you can also get information about Vehicle Finance system. I have also got loan on my Vehicle from here.

Heritage South Credit Union If you are shopping for a car, why don’t you call them and get pre-approved for a loan or apply online at heritagesouth.org. Once you have found the car you want to purchase, you will need to go in and join the credit union. That requires two types of identification (one should be a photo ID), and a $5 deposit in your share account plus a non-refundable $1 membership fee.

Once your membership is established, They will need to verify your credit history and employment before terms for the loan can be established. Many lenders, like Heritage South, offer a “skip a payment” program that excuses a payment when you are in a situation such as yours and adds then adds the skipped payment to the end of the loan. (931) 680-3900 (931) 680-3901 FAX Main Office (Shelbyville) 763 North Main Street Shelbyville, TN 37160 Mailing Address: P.O.Box 1219 Shelbyville, TN 37162.

If you absolutely have to get a loan, then shop around for a pre-approved loan, just like aleghart said. Try your credit union/bank first.

You're best bet is to work with the seller privately. With a decent deposit they can extend a seller's note which is essentially a loan to you to be paid back on agreed terms. Before running all over town - enquire with sellers first to see if they'd be willing to offer private financing (along with a decent cash deposit from you) - I'm sure with you may get lucky via a private seller or a smaller dealer to secure the vehicle.

I'd would however be careful about sharing your plans to covert it to a vegetable oil run engine though as changing up the engine will make any lender reticent to fund you. Mainly since the vehicle is different to when you purchased it and less useful if they need to repossess. Good luck and great idea to convert the engine.

Go green - yeah! French fries always smell better than diesel exhaust anyhow!

I think that I might sit down and write up a business plan using some good business software. I would detail the cost of the van, the cost of the conversion and the estimated cost per mile of the business. Then I would decide how much I need to charge to cover those costs plus the other costs of doing business, plus a small salary for myself.

Once I had this, I would take my plan to some banks and present the plan. I think that you are a lot more likely to get a loan this way. I would also go to the local Small Business Administration office and talk to them.

They probably won't be able to get you a loan, but they may be able to direct you to local organizations that are making MICRO loans. You may not get enough money to cover the total cost of the van, the conversion and the startup costs, but you might use the commitment of a micro loan to get other sources to loan you the additional money that you need. Update; Check this site out; opportunityfinance.net/industry/industry....

Save cash and buy the vehicle with the cash. Why? You have bad credit scores and that will not be repaired quickly.

Save 3/4 of the value of the vehicle and offer them a cash offer or use the cash asset to acquire a loan from a bank. Cheap money is no longer available. You will have to earn your assets.

The poor are driven to predator loan lenders. They charge high interest and have hidden fees. I think you should stay clear of the pitfall.

Use cash.

Save the money, it is worth it in the long run. Getting into loans you cannot afford to pay got us into this horrible economic crisis. You could always make your band members pitch in as well!

It is a tour bus after all. And how expensive can an old van be anyway? Another good, and smart option, would be to get a sponsor for your van.

Try finding out what local businesses could help you out in exchange for publicity. This could work out great for you, if you find the right sponsor!

Try a hard money lender, they may charge you points, but you don't need good credit. Also research charity's or organizations that deal with the environment because it sound like you are trying to do something to help the planet and that would be a good cause for them to donate or give you money for a vehicle to you.

Try a credit Union instead of a bank. There usually much easier to deal with.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.