Land for new car trade-off: Is this hypothetical deal even possible?

[gratefulcrimson]

What is the name of your state (only U.S. law)? Arkansas

I've been making payments on a new vehicle, for over a year, that I wish to soon sell and pay off the loan difference. I'd rather be making payments on actual acreage property as a long-term investment. The vehicle is in great shape and under a 100,000 mile warranty. However, it is a little bit difficult to fit three car seats into.
I've found 10 acres of rural land I'd like to purchase.The asking price is $14,994 The owner will not finance to me due to personal circumstances, but is considering a trade for my newer vehicle. If he deems it worthwile. I have a 2014 Kia Soul, which appraises anywhere from $10,000-14,000, depending on the estimating website.
*My question*:
Could I trade him the car for the land, using that land for collateral against my current loan, as I continue to make the monthly payments on said vehicle? Therefore, absolving the current land owner from any liability should I become seriously injured or incapable of continuing the car payments.
If this is a possible trade, how would I go about initiating this?
Thank You!

 

[Zigner]

What is the name of your state (only U.S. law)? Arkansas

I've been making payments on a new vehicle, for over a year, that I wish to soon sell and pay off the loan difference. I'd rather be making payments on actual acreage property as a long-term investment. The vehicle is in great shape and under a 100,000 mile warranty. However, it is a little bit difficult to fit three car seats into.
I've found 10 acres of rural land I'd like to purchase.The asking price is $14,994 The owner will not finance to me due to personal circumstances, but is considering a trade for my newer vehicle. If he deems it worthwile. I have a 2014 Kia Soul, which appraises anywhere from $10,000-14,000, depending on the estimating website.
*My question*:
Could I trade him the car for the land, using that land for collateral against my current loan, as I continue to make the monthly payments on said vehicle? Therefore, absolving the current land owner from any liability should I become seriously injured or incapable of continuing the car payments.
If this is a possible trade, how would I go about initiating this?
Thank You!

You can't - it's against the terms of your contract with your lender.

 

[tranquility]

How much do you owe on the vehicle?

 

[OHRoadwarrior]

You cannot sell a vehicle you owe money on, without paying of the vehicle. Therefore you could get him a marketable title.