Glad I could help. Thanks for the feedback.

"Jay Baker" <jaycsco[at]myway.com> wrote in message
news:41AA4EB6.6090605[at]myway.com...
- quote -

Dick,

That sure wasn't what I'd have expected, but it worked. I actually had to create
a special transfer cash account to transfer the worth of the old asset to,
before I could then transfer that toward paying down the loan. I then used the
same special account to transfer the extra financed amount from the new loan
over to the old loan to finally close it out.

Thanks for the help!
Jay

Dick Watson wrote:
- quote -

The secret is to make the money form the loan show up in some transaction. I
call it Other Income:Loan Proceeds Received. Then you can use the $25k to
payoff the old loan and transfer the balance to the auto asset. See
http://umpmfaq.info/faqdb.php?q=86 for how mortgage refis can be done. This
case is similar.

"Jay Baker" <jaycsco[at]myway.com> wrote in message
news:1101653609.124422[at]sj-nntpcache-3...
- quote -

Trying to figure out the best way to handle this kind of transaction. I just
traded in one car for another. The old car was worth about $13k, but I owed
around $18k. The new car cost around $20k. The dealer paid $13k for my old car,
paid off the old loan, and rolled the extra $5k into the new loan, putting it
around $25k.

I have the old car as an asset account for the $13k, and the old loan is still
at $18k. I created a new loan for $25k and a new asset for $20k.

What's the best way to transfer the $13k from the old asset to the old loan
being paid off, and to transfer the $5k from the new loan to pay off the
remainder of the old loan?

Using M2005 Premiere...

Thanks,
Jay