Anyone know how to buy a car through a private party with auto loan?

I'm purchasing a used vehicle from a friend of mine who is still making payments,.I'm buying it it for exactly how much left he has to finance on it (in the neighborhood of 15,000), he will make no profit off this transaction (monetarily) and I'm just paying off the lien. How does his credit union get the money and how does USAA get the title? I have no idea how this works. I tried calling usaa to get some advice but I've been met with very rushed, brisk answers that imply I'm being annoying. Plus its nice to have it in writing.




I am sorry you did not get the support you deserve. Here are some answers for you.


1. You could use a USAA Used Car Loan to buy your friends car. Click here for more information.


2. If approved by USAA, the current "Lien Holder" (i.e. your friends Credit Union) will be paid by USAA.


3. USAA will work with appropriate agencies to have a "new title" created putting your name on the "new title" and putting USAA on the "new title" as the current "Lien Holder".


4. Call 1-800-531-USAA (8722) and speak to one of USAA's Member Service Representatives whom will be happy to assist you.


I hope I have answered some of your questions.


Is it possible to pay for a used car that has already been payed off by previous owner with an auto loan?

Dear sins,

If I understand you correctly, you should be able to use an auto loan. For an in depth answer that is catered to you personally I recommend you call 1-800-531-USAA (8722) (say auto loan to skip the menu) to talk with an auto loan specialist! Thank you!

First of all: Just because he or she is making no profit on this transaction doesn't mean it's a good deal.

I would be very cautious during this transaction. Just because they owe around $15,000 doesn't mean that it's worth that.

1. I would first get all the options and the miles that the vehicle has and go to or to determine the fair market value of it.

2. I would then go to and make sure it has a clear and unwrecked title on it.

3. Then you need to get pre-approved with USAA or your local credit union to see who has the best rate for the term that you want to finance it.

4. Then you need to get the exact payoff from his or her financial institution and look at the title to make sure it doesn't have a second lien on it. I would also call the county clerks office to make sure it only has that one lien on it and make sure the taxes are paid up to date.

5. After you are approved for the loan (make sure you get enough for your states taxes included), then have your financial institution cut a check to their financial institution.

6. Go test drive the car and then get a bill of sale (Google and print off for buying a car) and have them and you sign it and come up with a deal between you two.

7. Show the seller the check and both of you put in the mail

8. Get title from seller and bill of sale.

9. Go to county clerks office with both parties and they should be able to do the rest for you

10. Make sure you get an insurance quote before you buy it because it varies a lot from car to car

Good luck and God Bless