Buying a used car from a PRIVATE seller who still has a LOAN?

If you want the car inspected before purchase, you will need to select a garage and make arrangements to have the seller bring the car to the garage. You would also be responsible for paying for the inspection (even if you decide not to buy the car). If you choose to buy the car, I would recommend completing the purchase at the bank that holds the existing car loan. That way, you can validate the amount of the loan and make sure the loan is paid.

You should get a 'Bill of Sale' signed by the seller and witnessed at the bank. It can take a week or two for the Title to be released and sent to you. If you are getting a loan, your bank or credit union can also help you.

Thank you so much, Gary! How long does a car inspection *usually* take? Is it reasonable to expect to finish the inspection, payment at bank, and take the car home in one day (maybe within 5 hours)?

*Also: this car is from another state, how will I obtain a license plate to drive it home on the same day?

The inspection depends on how detailed you want the mechanic to be. You will need to ask the garage how long. They usually drive it, then put it on a lift and check tires, brakes exhaust, underside for leaks, etc. Again, you have to talk to the mechanic and see what his level of effort will be and what he will check.

As for the license plates; you will have to check with your state's Department of Motor Vehicles. In Virginia, you can purchase a 5 day temporary tag to drive the car home. Make sure you make arrangements with your Insurance agent so the car is insured when you drive it home.