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Trading trucks

Discussion in 'General Automotive' started by cbcs1987, Sep 18, 2011.

  1. Sep 18, 2011 at 12:32 PM
    #1
    cbcs1987

    cbcs1987 [OP] Redneck from the hills

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    Cody
    East Tennessee
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    Me and a friend are interested in trading our trucks straight up with each other, and I just have a few questions. Other than swapping titles over, what happens with the payments? Will I have to start paying the rate he is currently paying, or will my rates remain what they currently are but just for a longer period of time since he owes a little more on his current truck? I know this probably sounds like a stupid question but I'm new to this and wanting to learn from people who have experience doing this, thanks.
     
  2. Sep 18, 2011 at 12:34 PM
    #2
    Tigahshark

    Tigahshark Senior NEWBIE

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    On a volcano, literally!
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    You will most likely have to re qualify for his loan amount and he for yours if you are still paying
     
  3. Sep 18, 2011 at 12:41 PM
    #3
    georgeandkanoa

    georgeandkanoa the point is simply this

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    jeff
    calgary
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    better talk to your bank,they don't just let you do that basically they own your truck until its paid for, and (just in case)they want the truck back they definately want the truck they lent you the money for
     
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