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A second car is harder to get. but not impossible. First of all, consider having the person who will need the car apply for it on their own, or if you need it, transferring your current loan to the name of your spouse or partner.
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Using a Personal Loan To Pay Off Your Car | LendingTree – Using a personal loan to pay off an upside-down car only makes sense if it’s part of a bigger financial strategy. Your budget should be able to comfortably absorb the new loan so that you’re still able to meet your other financial obligations while making progress on your money goals.
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Yes, it is possible to get financed for a second car loan, but there are a few things that can make this process a bit tougher than just getting one car loan. Lenders take on more risk loaning on a second vehicle and the way that they look at it it is much easier for a customer to walk away from one of the loans, because the customer has another vehicle to drive if they give one back to the bank.
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