I have a 07 suzuki forenza i owe about $12,000 on and theres a 04 mercedes i

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TeLee

New member
want for about $13,500? Is there any way i could switch the car on my loan with some kinda collatoral or something and then just add the difference the loan i have?
 
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PeterGriffin

Member
You mean swap your car for the Mercedes on the current loan? No you can not.

You can trade it in and get a new loan for the Mercedes. But you will pay far more than $13,500 because the dealer won't give you anywhere near $12k for your Suzuki. More like $7000. Which leaves you with $5k negative equity which will be added to the Mercedes. Making it $18,500 + tax, title, license.
 
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