Overhaulin'

If I have an existing car loan can I trade for a new car?

If I have an existing car loan can I trade for a new car with a new company other than the one I have the car loan with? Would the new company buy the loan, how would that work? How would this affect my credit score? Thank you

Public Comments

1. The existing loan has to be paid off, and a new loan obtained for the new vehicle. So, if you owe less than your current vehicle is worth, you might be able to make this happen.