- Location
- Michigan
Got a question, call me dumb for it if ya want lol.
I've got a guy wanting to trade straight up for the Bonny for a nice WJ. Now I've got a loan on the Bonny, I owe about $1700 (paying off with taxes). So i have a lien on it obviously.
My question being do you think the bank would transfer/change the vehicle I have for collateral? The WJ is worth like $500 less than the Bonny on NADA, but still worth more than what I owe ($5,200).
K "and it's not a 4.7" man
sorry K, went to bed early last night if this was your question for me.
yes, the bank will do a new loan on the wj for the balance of the loan on the bonnie, or if you want you can get a loan for the 'loan value' of the wj and use some of that money to pay off the bonnie and have cash left over for travel money to Attica IN in March.
