Refinancing vs Trading in Your Car

Have you thought about how high your loan payments are? Has it been difficult to make the payments on time? If this is the case, then you know you have to act fast. Technically, a finance company can repossess a car the day after you miss a payment. You don't want to have a repossession on your record. In these cases, it's best to look at refinance or trading in as the best option.

Refinancing would mean changing your loan terms to either have a lower interest rate or a lower monthly payment. However, most places are not going to let you get out of the loan completely and you may end up paying more than the car is worth. There are also some people out there who believe that trading in is better because it gets you out of the loan while getting you into another car that you can afford.

You can see all of your options when you visit Hatfield Kia.



Categories: Finance