Adding more money to a loan? - Mustang Evolution

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Old 04-03-2010, 03:00 PM   #1
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Adding more money to a loan?

I have a loan out at my local credit union for a mustang. I need another car for winter because I obviously cant drive a mustang in the winter. Is it possible to add onto the loan, say like $1500-2000? I have perfect credit and have never missed one payment.
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Old 04-03-2010, 03:39 PM   #2
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Adding more money to a loan?

A Mustang cannot be driven in the winter? OMG - when did this happen? I have been driving mine every winter for years.
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Old 04-03-2010, 03:50 PM   #3
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Adding more money to a loan?

You could ask them to refinance your car and take cash out if the value of your car is at least $2,000 more than the amount you now owe on the loan.

Otherwise, see if they will give you a second loan for the purchase of the second car.

Or, see if someone will carpool with you in the winter in exchange for rides in your mustang during the nice weather, so you don't have to pay for payments and insurance on two cars.
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