Refinancing vs. trading in your car

If you purchase a car and you start to feel like the payments are too much, there are a few options that you can turn to before things get out of hand. First off, you can always try to refinance with your loan company to see if the payments can be made smaller or change to a longer plan with smaller monthly payments. However, if you are finding that you want to get into a newer vehicle, then you can try to look at trade-in value for your vehicle and get into a car this way.

Most dealerships are happy to set up something to help you pay off your loan and get into a better vehicle. If you want to avoid repossession, you may need to trade in and refinance for a much smaller vehicle or something that fits your budget.

Want to get into a better vehicle that’s new with a good interest rate? Talk to the people at Honda of Salem.

 

 

Categories: Finance
;