Refinancing vs. trading in your car
You can get into a better vehicle or stay in your old one for a new price. Which one sounds like the better deal? Well, it actually all depends on your equity and interest rate. If you are upside down in your vehicle, meaning that you owe more than the car is worth, then you may want to see if you’re eligible to refinance. However, if you don’t owe more than the car is worth, you are in a great position to trade-in your vehicle for a newer one.
You can also refinance your vehicle to lower payments if the car is worth more than the amount you owe. You want to make sure that you always get a good rate that’s going to satisfy your needs. You’ll need to be careful about refinancing with companies that have higher interest rates and penalties.
Want to get into a newer car today? Talk to the customer service team at Greenwich Honda.
Source: Greenwich Honda Blog