I have an auto with an associated loan, and I am
purchasing a new car. I want to payoff the existing loan
and transfer the remaining principle to the new asset
(car)without it looking like the car cost more than I
paid. The transaction consisted of paying off car1 and
putting money down from a checking account along with the
remainder coming from the new car loan. Money does not
make this simple.

Re: Auto Loans by Dick

Dick
Wed Oct 15 20:20:06 CDT 2003

Maybe it's not simple, but it is certainly possible.

It may take several transactions. You might want to read the FAQ on mortgage
refinances and extrapolate.

"MikeF" <anonymous@discussions.microsoft.com> wrote in message
news:0ae101c3937f$391a2410$a101280a@phx.gbl...
> I have an auto with an associated loan, and I am
> purchasing a new car. I want to payoff the existing loan
> and transfer the remaining principle to the new asset
> (car)without it looking like the car cost more than I
> paid. The transaction consisted of paying off car1 and
> putting money down from a checking account along with the
> remainder coming from the new car loan. Money does not
> make this simple.