How do I switch the car I have with the car I want with my auto loan company?

If she is going to sell it to you for exactly how much you owe on your loan, your bank can do a change of collateral.

You can't do it the way you want. A loan is for a specific vehicle. You can't just switch the vehicle listed on the loan.

You have to sell your your old car, pay off your old loan, and then buy the new car from your friend, and get a new loan to pay for it.

Just because you want it doesn't make this a good idea. You are way upside down on that car...probably by at least $4000....it's a 4 year-old car with high mileage. So you can sell it for as much as you can get for it, but you would have to pay off the remaining balance on the loan. So unless you have a couple of grand sitting around doing nothing I don't see how this would work. Why are you so excited over a 2 year-old car with almost 50,000 miles on it? Do you guys drive back and forth across the country 3x a month or something?

The finance company will make you get another loan but now you have a problem, it's up to you to sell your car. If you are not going through a dealership then you have to sell it on your own. If you don't you have two cars and two payments. The finance companies always change the loan when purchasing a new car. I think you are looking for the same rate and payment correct? I think that the Lexus will be more expensive but that depends on how much you can buy it for.

If you have been on time and your credit is good now is the time to get low rates. Rates on everything are at it's lowest right now. Good luck I hope this helps.

Yep, you have to get another loan and sell your existing car not necessarily in that order.

Since you are trying to buy a car from private seller, you will have to sell your current car and payoff the loan. If you can not sell it for your payoff amount, you will have to come up with the difference out of pocket before they will close the account.

You will have to get a new loan for the Lexus, you can not just transfer the collateral. If you make enough money, you might qualify to buy her car and keep yours. Good luck.