Finance Question

[Ben73]

I know you cannot sell a car you owe money on. But is it possible to trade the finance to a new car and sell the one that you originally financed.

E.g. My car is currently worth 20k as a trade in. I also owe about 20k on it. I want a different car that is 30k at a car yard.

So if I give the dealer my current car worth 20k. Give him 10k cash then take the new car home, change the finance to the new car and continue to pay off the 20k I owe like nothing has changed, is that possible?


I know the only way to find out 100% is to call the finance company, but I would like to hear if anyone knows anything about it.