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No, it is not possible. Your previous loan must be completed to get a new car loan
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∙ 10y ago
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If you trade in a car that you owe money on will you have to pay the previous car loan plus your new loan?
Yes. It is referred to as "upside down" financing.
Can a financed car be used as collateral for a loan?
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
Can you use a car loan as a down payment on a car?
ya of curse you can use the upside down car loan for buying a new car...
Can you add a co-borrower to an existing home loan?
No, you have to refinance the mortgage. The person you want to add to the loan needs to apply with you on the new one.
How does one obtain finance when buying a new car?
To obtain finance when buying a new car you can go to a bank and take out a personal loan or a car loan. Your local bank will be able to help you get financing.
If you trade in a car that you owe money on will you have to pay the previous car loan plus your new loan?
Yes. It is referred to as "upside down" financing.
How do you trade in your car when you are still paying the loan for the car?
The balance you owe on the car that is getting traded in will be added to your new car loan. Example You owe 10,000 for the car you want to trade in They give you 6,000 for trade in your new car costs 20,000 you will either have to pay that 4,000 or they will add it onto your new car loan from your car you traded in.
Do dealerships accept a trade in that has a title loan?
Yes, they will and they will add that to what you are paying for the new car
Can you roll the balance of a carloan into a new car loan?
No, it most cases you cannot roll the balance of an existing car loan into a new car loan.
Can a financed car be used as collateral for a loan?
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
Can you use a car loan as a down payment on a car?
ya of curse you can use the upside down car loan for buying a new car...
How do you finance a new car if you still owe on your present car loan?
You need to pay off the present loan. Most people do that by adding the balance on to their new car loan, getting deeper and deeper into debt.
You still have finance on your car but like a new car how can you do this?
The amount you owe on your old car is added to the loan on the new car,and that finance company is suppose to pay off your old loan.
How do i get a new car but keep my loan?
You don't need a loan you can just pay.
Can you add a co-borrower to an existing home loan?
No, you have to refinance the mortgage. The person you want to add to the loan needs to apply with you on the new one.
If bought a new car a few days ago with a car loan and now you have to leave the country what can you do to get out of the loan?
CALL the lender. they are the ones who can let you "come out" of the loan.
How can you get a new car if your previous car was repossessed?
I have seen it done, yes.
