I have seen this done only once before and that was 15 years ago. The problem with that arrangement was one car clunked over, and *****HAD***** to be replaced so a spouse could go to work. It litterally took an act of Congress to get the bank to release the title so it could be traded in because the remaining loan balance was greater than the loan value of the remaining vehicle, and the new loan couldnt be worked to pay off the old loan in full for both cars. The best person to ask this question of is the loan officer of the lender you are going to work with. I will point out the downside to this is if something happens to one of the vehicles there better be enough "equity" in the remaining car to carry the note otherwise you may find yourself in a similar situation of the previously mentioned situation.
EQ- 647, EX- 641, TU- 644
Sept `13 - ZERO Debt, 100% Liquid, AND a climbing credit score. Eat your heart out Dave Ramsey!
