Should You Refinance or Trade In Your Car?

Your financial situation might have changed since you signed on to your car loan or perhaps you're wondering if there's a better option for making your monthly car payment than the one you currently have. You can refinance your loan or trade in your vehicle, with certain benefits for each choice.

Refinancing is your best option if your credit rating has improved to the point that it will allow you to get a better interest rate when you refinance. The lower rate will reduce your monthly car payment, making it an excellent financial decision. Trading in your vehicle is the better option if it's getting older or if your interest rate and payment schedule won't be markedly improved by refinancing.

We'll help you make your decision to refinance your vehicle at Blue Knob Auto. Sit down with our loan experts to come up with a payment plan or trade in option that's right for you.

 

 

Categories: Finance