In case you think about purchasing your own car, but you do not have the necessary funds, applying for an auto loan is a smart choice.  Applying for an Auto Loan is not a very complicated process, but some car loan lenders may have some restrictions you need to analyze.  First of all, you have to purchase your vehicle from a dealer the lenders work with.  You do not have the possibility to purchase your car from your friend or for a neighbour.  This signifies that an auto loan is not available for private sales that have nothing to to with the specialized dealerships.