Can i get a car loan for more than the car is worth?

Wednesday, August 5, 2009 9:00
car worth
If I have a truck thats worth 3000 less than what is left on the loan, can i get another car loan for 10,000 and use 3000 of it to pay the rest of the truck loan and use 7000 to buy a used car? Or would I need to take out a personal loan for that 3000?
What if I’m selling the truck to someone we know for what its worth. So we’re not really going through a dealer except to buy the used one.

By: denvergirl

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