Your vehicle is due for a change, or perhaps not. You might decide that you want to keep it. If you do, then you need to go with a refinancing deal. That can lower your interest rate and perhaps stretch out the loan terms for a lower monthly payment. You will probably have a difficult time finding a lender who is willing to do the deal.

Trading-in your vehicle is not nearly as burdensome, but you will not get the kind of deal that you want for it. You will end up taking the price that the dealership is willing to offer.

The nice thing about trading-in the vehicle is that you can get an upgrade on your vehicle. The new one can have all of the bells and whistles that you need from it. You will lose a lot of value in the trade-in part of the deal. Just do this if you really want out of the vehicle you have now.

 

Categories: Finance