Checklist
Buying privately with finance. Your checklist.
Buying from a private seller works a little differently from buying from a dealer. There's no finance desk, so we organise the paperwork between you, the seller and the lender. This checklist covers cars, caravans, boats and motorbikes. You've only got four things to do, and Morella Finance looks after the rest.
Checklist
Buying privately? Use our checklist.
The steps from finding a vehicle to picking it up, including what you do and what we organise with the seller and lender.
Before you start looking
YouGet your pre-approval. Tell us you're buying privately, and you'll know your budget before you talk price.
When you find the one
YouView it and agree a price. Have a good look over it in person first.
Send us the ad and the seller's number. A link or a screenshot is fine. We take it from there.
Tip. Send us the ad early if you can. We'll check it fits the lender's rules before you commit.
We handle the paperwork
We handle thisWe call the seller. We get the ownership documents, rego and the VIN or HIN.
We check it fits the lender's rules. That includes the age limit, which is based on the build date.
We run a PPSR check. It shows if money is still owing. If it is, we get a payout letter from the seller's financier.
We arrange the lender's inspection. It's done as a virtual inspection.
We prepare the private sale invoice. You and the seller both sign it.
The lender pays the seller. Their financier is paid too where money was owing.
Pick it up
YouCollect it and transfer the rego. We'll let you know once the funds have cleared. Rego transfer rules are set by your state or territory.
Common questions
Yes. Private sales can be financed, subject to the lender's assessment and criteria. The steps are different from a dealer purchase, which is what this checklist covers.
That's not a problem. We get a payout letter from the seller's financier, and their loan is paid out as part of settlement. The balance goes to the seller.
The lender pays the seller directly at settlement, and pays the seller's financier too if money was owing. You pick it up once the funds have cleared.
The lender needs an inspection, and we arrange it as a virtual inspection. Some vehicles also need a valuation, such as ones that have been heavily modified.