Boat trade, when you have a payment

Here’s my dilemma. It’s long so I apologize in advance.

I owe on my boat. My Boat is priced under NADA and is in good shape with 153 hours.

Other person owns his boat outright. His is 9 years older than mine, Boat is priced at twice NADA, but his asking price reflects the condition.

Him and I were interested in an even trade. My boat loan balance is $3K less than his asking price, but probably what he would get selling the boat outright, due to age, condition, etc.

I figured I could call my bank, tell them what I want to do, and it would be as easy as just swapping the loan against titles. I keep my payments but against a different boat and we swap.

No.

Bank says I need to get a loan for his boat (with 10% cash down), buy his boat, and he would use the money to buy mine. The trouble is, max loan value on his boat (due to NADA) is $3K less than what I owe on mine. So, I would have to come up with an additional $3K cash to cover the difference on my loan. Not to mention tax/tag xfer fees for both of us.

So, for me to swap boats (even) I would need to come up with over $5K cash in advance to make this happen. ($3K being the difference in what the bank max loan value on is boat is and what I owe) plus and additional 10% down I would need to do just to get a loan for his boat.

Is there any way for us to do this without me having to fork out so much cash?