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Ukyo8
12-12-2012, 11:36 PM
Hi everybody,

I was hoping to get a little bit of info regarding a situation I've never been in before.

I have my car for sale (2008 BMW 328i)
While looking through Kijiji I found a newer vehicle that I am interested in.

Shoot the guy a message and the next day we meet up to look at each others cars.

We both agree that we would like to do the trade.

I don't owe any money on my car.
He owes about $20,000 on his car.

How would we go about making this trade happen? is it even possible?

Any help would be greatly appreciated!

shakalaka
12-12-2012, 11:40 PM
Tell him to pay it off and have a clear title. Then trade it.

ercchry
12-12-2012, 11:42 PM
he would have to remove the lean on his car... so basically payout his loan with another loan that isnt secured to that vehicle