Refinancing or Trading in: Which Should I Choose?

If you’re finding that monthly auto payments are stretching your budget to the breaking point, it may be time to consider refinancing or trading in your vehicle. Stokes Honda North is prepared to help you with either option, and we’re standing by to go over all the details with you today.

Refinancing your vehicle may be a good decision if you’re trying to lower your payments and your vehicle is still relatively new. By refinancing, you simply lengthen the time it takes to pay off the loan, and this can significantly reduce the amount that you pay out every month.

Using a vehicle as a trade-in is often a great idea if the vehicle is older or if you’re in need of a new-to-you vehicle for other reasons. Trading your vehicle in may not lower your payments, but it does allow you to tap into the equity that you’ve accrued in your current vehicle to use toward the purchase of a newer model.

 

 

Categories: Finance

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