So you wish to traffic my automobile with my crony for their car. you have a loan upon my automobile whilst they do not. Is there divided you can traffic as well as have my loan send over to their car?
Can we traffic my automobile with someone else as well as take my automobile loan as well as send it to a automobile we traded with?
4 Responses to “Can we traffic my automobile with someone else as well as take my automobile loan as well as send it to a automobile we traded with?”
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yes ,if their car has a clear title and if your lender agrees to the deal,it’s called substitution of collateral.
No, the loan is attached to the car. If you trade cars someone needs to pay off the loan.
No. An auto loan is a contract between two parties and a specific vehicle. They cannot be changed, traded or transferred. Pay it off, then trade it.