How Does Buyer Financing Work?

This article walks the buyer and seller through how a deal looks when buyer financing is involved. The buyer must apply for a loan and be approved before seeing any of the following in a deal flow. To learn how to apply for a loan, click here.

If the buyer is financing, you will want to wait for the loan to be approved before completing Steps 1-2 in the deal flow as shown below.

  1. Before approved buyer funds are available for use, the buyer and seller need to agree on the purchase price and e-sign the necessary documents.

  1. Once both parties have agreed upon the price and have signed the necessary documents, USALLIANCE will review those steps and release the approved funds into the buyer's PrivateAuto Pay account.
    • Review and approval takes 0-2 days.

  1. Now that the funds are available in the buyer's PrivateAuto Pay account, the transaction can be completed instantly.
    • Click here to view how to transfer funds to a seller via PrivateAuto Pay.

*Account services are provided by USALLIANCE Financial, a licensed and insured banking institution. PrivateAuto does not facilitate or handle any funds throughout the transaction. All funds are in the custody of USALLIANCE Financial.

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