alright well hers my question i have someonw who wants to trade his car for mine we both have loans out on are cars and i was wondering if how that would work or if you can even do it. he told me its called change of collateral? dose anyone know anything about this?
anyone smart with loans and stuff?
- Thread starter 4doorcivic16
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He takes over your payments, you take over his...along with his interest. How much do you owe on your car? How much does he owe? Basically the bank or the creditor just wants their money, they don't care who pays it. I'm pretty sure that's right, never had to deal with it personally so if someone could confirm this.
his pay off is around 14k and mine is 17k his credit credit is better then mine
Kensai has the right idea. When you swap your loans they should (more than likely will) recheck your credit for the loan to see what your payments will consist of. Most of the time they will keep it the same unless they feel you are a high risk. Then they can raise your payments, interest, or just deny the swap. The hardest part will be getting both of your finical institutions to agree on the trade.
yeah im pretty sure its not gonna happen, damn i really wanted a s2k to = (
you owe 17k on a subie and are thinking about trading 
edit: age = 20.. wait till your a litlte older, you will understand
edit: age = 20.. wait till your a litlte older, you will understand
you owe 17k on a subie and are thinking about trading
edit: age = 20.. wait till your a litlte older, you will understand
I found out the hard way. I should've waited till I was older, now i understand. My credit is f**ked for being ignorant at a young age.well if i trade then i wouldnt o so much and carpayments wouldnt be as high either so i could drive this one lol insted of it sitting like my subie dose
when you transfer titles you will have to finance his car. If your credit is no bueno then obviously your payments are going to be high along with the interest rate. You cant just trade payments
Mr. Jollypants
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Well, you could, but you're both risking your credit if someone doesn't make payments.
i guess then that could work, but can you insure a car that is in someone else's name?
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I think you can, it's called Non-Owners Insurance
interesting. i didnt know that
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Learn something new everyday 
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Yes it does depend on the insurance.
Not to be a douche this post is trying to be helpful as im 21 and have 15k in car payments left too. I bought what I could afford, 2008 Mazda B2300 2wd reg cab. I could've bought a V6 4wd extended cab but I could not afford that in the long term and fuel efficiency. My payments are $150 Bi-weekly at 0%, I believe I made an awesome choice. It looks like you should've bought a regular Impreza or just a WRX or turboed your old 4g4d.
How would your insurance company rate the s2k? its considered a two seater convertible sports car. As fast and sporty as the STi is, its a 5 seater 4 door. Also maybe you should not keep spending all your disposable income on upgrades? I know we are all enthusiasts here and that what alot of us live and breathe but what it worth if you can drive the car or afford the payments? In your other thread you have a set of new rims and are looking into purchasing a COBB access port tuner and making an exhaust. I know it says your making one but even if that costs say $20, that's $20 that you can use on half a tank of gas.
You may want to look at selling the car for as much as you can and try to break even and buy an EK civic or something affordable that you can make low payments and have payed off in less than a year and have WAY cheaper insurance. Just some food for thought and my 2 cents.
How would your insurance company rate the s2k? its considered a two seater convertible sports car. As fast and sporty as the STi is, its a 5 seater 4 door. Also maybe you should not keep spending all your disposable income on upgrades? I know we are all enthusiasts here and that what alot of us live and breathe but what it worth if you can drive the car or afford the payments? In your other thread you have a set of new rims and are looking into purchasing a COBB access port tuner and making an exhaust. I know it says your making one but even if that costs say $20, that's $20 that you can use on half a tank of gas.
You may want to look at selling the car for as much as you can and try to break even and buy an EK civic or something affordable that you can make low payments and have payed off in less than a year and have WAY cheaper insurance. Just some food for thought and my 2 cents.
yeah i coulda bout a wrx but the sti was MUCH nicer and when i was make $17 a hour and didnt have anything els to payfor it wasnt a problem .now as for my car its all back to stock sold all the aftermarket s**t i got for free for it.. if i could go back to making 17 or even 15 a hour i would be fine. i guess it will just keep sitting keeps me out of trouble plus i dont mine driving my durango