The practical answer
Potentially, but the existing lender’s settlement and the dealer’s part-exchange allowance must be reconciled before the replacement purchase completes.
Obtain a dated settlement figure and a written allowance. If the allowance is lower, identify how the shortfall will be paid; do not assume it can automatically be added to the next agreement.
Ask who settles the old lender and how clearance will be evidenced. Keep repayments current until the lender confirms settlement, and check whether the figure expires before delivery.
Commercial finance is subject to status, lender approval and the specific asset and transaction. The right structure depends on the complete circumstances of the business.
What should I do next?
Have the asset details, supplier information and an outline of what the business needs ready. DCF can then discuss the requirement and identify which lenders may be suitable.
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