Can I buy used Car from friend through Bank Car Financing?

[monie-ahsan]

My friend is selling 2004 Toyota corolla in 7 Lac. I can pay a down payment of upto 2 lac and monthly installment of about 25000-30000. My question is Can I apply for a car financing to a bank as I am buying it from my friend instead of some showroom. Secondly, my company offers a cash payment instead of deposit our salaries into our account. So will it create any issue for me?

[azfarnb]

Yes you can. Apply to a bank for finacing and buy from whoever you want to. Cash payment is going to be an issue but an employment certificate from your company mentioning your salary in it would do.

[fastian04]

Not older than 5 years in case of local car. No bank would lease a 12 year old car as insurance won't be feasible for them. Get a loan to get this car..if u wanna have this

[MuhammadHassan]

Banks dont allow lease of cars which are older than 7 years. You can apply for personal loan from bank and use it to pay for the car