I want to trade in my car and my boyfriend and I each want to get a new car. Would a dealership finance them together or would we be forced to have to have two separate loans?
Can a car dealership finance two cars in one loan?
Two things wrong with this scenario.
No you can't finance two cars on one loan. Each car must have it's own contract.
And you should never finance ANYTHING with your boyfriend. I don't care how solid your relationship is, until there is a ring and a vow your finances should remain separate. Not for moral or religious reasons, but for legal reasons.
Reply:No, you can not get two cars and have a single payment. You can trade two and get one car...It does not work that way....You may be able to trade your car, and split the equity on the car for both cars...kinda like splittin the down payment.
Reply:Just to make matters cleaner and easier, even if they can do it, don't! If something happened between you and your boyfriend, it would be an absolute mess to try to get your car separated from the loan.
Reply:No. You must get a separate loan for each car. For each loan, a specific car is identified by VIN number and description and there are no provisions for multiple cars on a single loan.
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