Refinancing or a Trade-in: Which one is the Better Option?

Are you thinking about refinancing or trading your vehicle for another one? If you are, then both have benefits, but which one offers more benefits for your situation. At Barnes Crossing Auto Group, our goal is to help you make an informed decision, which is why we have summarized the pros and cons of refinancing and a trade-in below.

Refinancing and a trade-in both offer lower interest rates and lower monthly payments. With a trade-in, you can get in a car that better meets your needs. However, if you are upside-down on your current automobile loan, your payments will have to be rolled into your future payments. If your vehicle is old or worth little value, refinancing may not be an option.

We invite you to stop by our showroom and speak with one of our representatives about which option is better for you.

 

 

Categories: Finance