I still owe $10,000 on my car loan and can't afford it anymore. My mom is willing to trade cars with me (hers is paid for) and take on the rest of my loan. Is that possible?
You might be able to simply swap cars for awhile if you and your mother both live in the same state, but your respective insurance companies won't like it. If you try to exchange ownership of the cars, the lender will likely require that something be done about the loan. Lenders don't take kindly to people just swapping loans and collateral without the lender's knowledge. Ask the lender about the possibilities for doing what you're contemplating, but don't be surprised if you don't get a positive response.
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You might be able to simply swap cars for awhile if you and your mother both live in the same state, but your respective insurance companies won't like it. If you try to exchange ownership of the cars, the lender will likely require that something be done about the loan. Lenders don't take kindly to people just swapping loans and 