Is Trading In My Car a Better Option Than Refinancing?

There are times when you will need to consider trading in or refinancing a vehicle. This may occur when you are short on money and need to get a lower car payment. Acura of the Rio Grande Valley wants you to be able to make an informed decision about whether refinancing or trading in is your best option.

There are times when you will want to refinance. If you can get a better interest rate to lower your payment, refinancing makes sense. When you refinance, you can also extend the length of your loan repayment. This will also lower your car payment.

There are reasons not to refinance. If your credit is bad, the interest rate may be higher. You may not want to pay longer on your car. At these times, trading in is the best option. You can get a quality vehicle that will lower your payments to an affordable level.



Categories: Finance