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  Home >> Lending >> Vehicle Loans  
Multiple Banks and Compounded Loans

I have a loan on a vehicle with a bank. Could I try to get a loan at another bank by getting them to pay off that loan to take out another one for more?



If the value of the car and your credit qualifications meet the lender's requirements, they can certainly pay off an existing loan and provide you with additional funds. It depends on the value of your collateral and how well qualified you are to borrow.

Published on BankingQuestions.com 7/21/10