Private Sale

Private Sale Buyer FAQ

Yes! We have lending program that works for every level of credit, good, bad or no credit. 

We have extensive resources, special finance lenders and experience in helping people with less than perfect credit. Even if you have been turned down recently for a car loan, we may have access to lenders others don’t.
Yes, less than perfect credit is what we specialize in. Gateway Loans works by matching you up with the best possible lender, based on your credit situation giving you the best chance of an approval.
Yes as we have many lending programs dedicated to people who are new to credit.
Yes. Many dealerships view bankruptcy as a bad thing. We view it as a fresh start and there are excellent programs available to help you into your next vehicle. Auto Loans with 99% Approval whether you have no credit, bad credit, or good credit, we’ll get you into a great vehicle today with our fast & easy process!
There are specific programs available through our lender partners to help with people while still in bankruptcy/consumer proposal. This will take a little extra time as we will require some information from your trustee, but there are still great options available.
Every time you apply for a loan it will be reported on your credit bureau. When you apply for a pre-approval we target the lenders that are most likely to give you favorable response – reducing the total inquires to your credit file.

Once you submit your credit application, from there they will work as quickly as possible to secure an approval for you. Often times you are able to pick up a vehicle within a few days.

If your looking to get a pre approval for a unit you seen on this site, then simply apply.  Once we get your approval in place you will know what budget you have to shop with. 

Interest rates vary depending on a variety of factors, however our rates do start as low as 9.99%. The easiest way to know exactly what you’ll be looking at is to apply online and one of our credit specialist will contact you and go over all the details.

The total amount that your loan will be pre-approved for, depends on several factors. Our financial specialist will work hard with you to find a vehicle that fits comfortably into your monthly budget.

Qualifying for a vehicle, motorcycle, atv, travel trailer or snowmobile is easy.  You will need at least the following;

  • Be at least 19 years of age or older. 
  • Have a valid drivers license 
  • Have a verifiable source of income from any of the following but not limited to.  Full time, Part Time, Casual, seasonal or self employed income.  Pension or retirement income, disability or maternity income and we do accept child tax credit or court ordered child support income.
  • Have a monthly gross income of at least $1800 per month. 

Now that you qualify for a loan the next step is to provide the lender with at least the following to get your approval.

  •  A copy of your valid drivers license with your current address.
  • Proof of Income and depending on your income source can be any of the following.  Current paystub or letter of employment, if seasonal then T4, T4E, bank statements or other supporting documents.
  • bank account in which your payments will come from and a copy of your void cheque or pre authorized payment form.
  • Proof of full coverage insurance for the unit you are purchasing.
  • lenders also require personal references just incase you change address or contact info and forget to inform them.
  • Your consent to conduct a credit check which enable the lender to give you the best rate based on your credit.
In most cases a down payment is not required.
Applying Online is free! If and when you decide to purchase a vehicle whether it be cash or taking advantage of one of the finance programs, we will go over all costs associate with buying a vehicle.
We work with all the major non-prime lenders who specialize in: bad credit, no credit, slow or late repayments, repossessions, good credit, bankruptcy, divorce, consumer proposals, new to country, R9’s, self-employed, and many other unique situations.

Great News!  If you already know what you want to purchase, then the next steps is as follows.

  1.  We structure the deal and review the numbers with you.
  2.  You tell us if the  numbers such as payments and term work within your budget.
  3. You sign the loan contracts.
  4. we purchase the unit from the seller at the negotiated price.
  5. You pick up the unit from our office or from the seller, depending on arrangement made.
  6. we will take care of all the paperwork such as transfers, reg etc.

Here are a few things to consider when buying private sale.

  • Go see the unit in person and if possible take a test drive. 
  • Its a good idea to  have the unit checked out  to make sure their are no surprises.
  • Depending on unit, Ask for a Carfax history report
  • Ask if their is a lien or outstanding loan balance on the unit.
  • Negotiate price with seller 

No!  the selling price is negotiated between the seller and the buyer.  We provide financing for the agreed selling price.  

Of course you can.  If at any point you decided you don’t want to move forward with the loan process, no problem.  Simply let us know before you sign any loan documents

Depending on what is being financed, paperwork can be sign online, at your home or at our Moncton office.  

Depending on what is being financed and where the unit is located will determine payment method.  In most cases we pay the seller directly.  

The whole process from the moment you apply typically can take up to three days to finalize, of course many factors come in to play.  We have deals done within hours and other times it extend beyond three days. 

We work with so many lenders which all have their own unique programs and requirement’s.  The following is simply a guideline.

The vehicles we can finance are as follows.

  • Vehicle that are not older then 10 years old from current year.  For example in 2023 we can finance a 2013 or newer.
  • Any vehicle with less then 180,000 kms on the odometer
  • vehicle must not have had any damages showing on a carfax greater then $7500 or a current lien. We offer a service to verify for you.
  • The vehicle registration must not be branded as rebuild, salvage or written off.
  • We can only finance consumer units and not commercial vehicles like taxi’s, tow trucks, plow truck etc.  
  • vehicle must be road worthy and have a valid motor vehicle inspection.