buying a vehicle private party with USAA loan.

marcpalex
Contributor

I was wanting know the USAA process for purchasing a car private party. How does the seller get his money? Do I get mailed a check to give to the seller? I want to purchase a car from someone who has a clear title.

40 REPLIES

I'm wondering the same thing, especially for buying from private sellers who own their vehicles and don't require lien paperwork. Does USAA mail them a check? Wire the funds?

marcpalex and SolidStateTactical,

Thank you for posting your inquiry.  After you are approved for an auto loan, we request a copy of the title to verify the listed owner.  We will issue a check payable to the seller and mail the check to you the buyer.  The buyer will receive the title from the seller; you must take the title to your state department of motor vehicles so you can transfer the title into your name and to record USAA as lien holder.  

Once you have agreed on a price for the vehicle, how do you cover the tag office fees?

Good afternoon,  BashawJ. That's a great question. In a private party situation, the buyer covers any tags, registration fees and taxes at the DMV when the title is transferred. Please let us know if we can be of further assistance! -Meredith

do we cash the check and then give the buyer the money?

Hello @Coastie14, I appreciate you reaching out to us today. I was able to locate your profile and will share your concerns with a subject matter expert. Once reviewed they will contact you. Thank you. -Emily

How long does it take to verify a dealer? I gave the neccessary info to finish up the process but still have not received a confirmation email from fedex. It is a really stressful process due to timing. I keep getting told to call back the next day.

@timmyturner25, I appreciate your patience. Currently, there are no loan specialists available to address your concern. We will reach out to you as soon as a specialist becomes available. Thank you for your understanding. Tricia

@Coastie14, thank you for your patience while we located a loan representative to answer your question. When you purchase a vehicle from a private seller and finance with us, USAA will issue a check payable to the seller but mailed to your address. This is completed once we've received all the loan documents. You would need to provide the check to the seller and they can deposit it for the funds. I hope this helps. ~Michelle