Can you buy a new car and add on the remaining balance for another car loan?
June 12, 2007 11:27PM
It is the discretion of the lending institution. When the dealer is processing the transaction they will show all the numbers in the document but it is up to the lending institution to accept. Most dealers are very "savy" and what they will do is inflate the price of the purchased vehicle in order to inflate the value of the trade in. They knowthe maximums the lending institutions will go and they play with the numbers.The lending isntitution will decide based on your credit worthines and the loan ratios.