Originally Posted by SpectorV
I dont think the bank will just "swap loans" its more like a you refinance the loan in your name and the other party does the same kind of thing.
Ok, so I read his first post as "trade in" with 2 cars...not 2 people swapping. Oops.
To "trade" cars with someone , you will basically need to buy each other's cars. Probably be easier to go to the bank together and if you both qualify, then you can swap.
Or, if you trust the person, you could each take over each others payments and just continue on your merry way...but, not a recommended route unless it's a close family member.
"When I know more, I'll be forthcoming. Or I won't be forthcoming, and I'll be honestly deceptive." - Les Miles