Bank Loan for used car purchase from private seller?
My credit score is good and there are lots of dealer financing available however the vehicles are about 4-5 grand difference between a user dealer and private seller hence Im thinking about buying a car from a craigslist/kijiji deal. Since Im preapproved from my bank for a 5% interest I thought I would take a car loan from the bank. However Im kind of confused on how I can pull this off because the private seller may ask me for cash funds.
Has anyone ever done this before?