The Differences in Refinancing vs. Trading in Your Car

State College Used Cars is trying to help our audience to make an informed vehicle purchases by explaining the good and the bad of refinancing versus trading in a vehicle.

When you come to the dealership and refinance, you will lock in at a better interest rate and be able to get your monthly payments lower. The one drawback, the vehicle needs to have some value. If the car is too old and has little in the way of resale value, this is not the best option for you.

On the other hand, consider trading in your vehicle when you want a low rate on a car you have been looking to purchase off our lot. The only thing, this option doesn't work well if you are still upside-down in your loan because those future payments need to be added to the new loan.

You have the option to finance your vehicle through State College Used Cars when you are ready!



Categories: Finance