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 the paperwork between you, the seller and the lender needs organising. This checklist covers cars, caravans, boats and motorbikes, from getting your pre-approval to driving away. Work through it in order. The steps marked 'We handle this' are the ones Morella Finance looks after for you.
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.
1. Before you start looking
YouGet your pre-approval. You'll know your budget before you talk price.
Let us know you're buying privately. The paperwork is different from a dealer purchase, so it helps to know early.
Have your details handy. Your driver licence, a recent payslip, any loans or cards you already have, and where you've lived for the last three years.
2. When you find the one
YouSave the listing. Keep the link or a screenshot of the ad.
View it in person. Have a good look over it before you commit.
Get the seller's name and number. We contact them for the ownership documents.
Note the rego and the VIN or HIN. They're on the listing, the rego papers or the vehicle. A HIN is a boat's hull number.
Check the build date. Lenders set age limits based on the build date, which can be earlier than the year it was first registered.
Ask if money is still owing on it. That's fine, it's paid out at settlement. We just need to know upfront.
Agree the price with the seller. Then send us the price and the seller's details.
3. Once you've agreed a price
We handle thisWe call the seller. We request the ownership documents.
We run a PPSR check. It shows whether finance is registered against it.
We arrange the lender's inspection. It's done as a virtual inspection.
We get a payout letter if needed. If money is owing, it comes from the seller's financier.
We prepare the private sale invoice. You and the seller both sign it.
4. Settlement and pickup
We handle this. The lender pays out. Funds go to the seller, and to their financier where money was owing.
You. Pick it up once the funds have cleared. We'll let you know when settlement is complete.
You. Transfer the registration. Rules and timeframes are set by your state or territory, so check with your transport authority.