Refinancing vs. Trading in a Vehicle

Are you falling behind on car loan payments? It can be difficult to get ahead when you are constantly fighting to pay your car payments. Refinancing and trading in your vehicle are good options to avoid repossession. Refinancing allows you to lower your interest rate and monthly payments, but you may end up paying more over time if your loan terms are extended. Trading in your vehicle is the second option.

When you trade in a vehicle, the equity that you have paid into the vehicle can go towards another vehicle. This works out to lower your payments if you trade in for a lower overall price. This is the best option if you want to pay off a car quickly and don’t mind trading in for a smaller vehicle or used vehicle.

It’s important to know the value of the vehicle as well as how much you have paid into your car so that you are able to bring the offer to Kia on the Boulevard. This is the best place to test drive and get a great rate on new vehicles.

 

 

Categories: Finance