Should You Refinance or Trade in Your Car?

It is a common misconception that simply trading in your car will net you the most value when you are looking to upgrade your vehicle. Refinancing your car loan is a great alternative to trading it in because it gives you the flexibility you need to keep your car while lowering your monthly payments.

When you refinance your car, you will get lower monthly payments on your vehicle, although you may end up paying more in interest over the life of the loan. If the interest rate has gone down since you first took out your car loan, you may end up paying a lower interest rate after you refinance.

Come to Honda City Chicago to check out what vehicle refinancing options may be available for you. Whether you are looking to trade in your current vehicle or hang onto it by refinancing, our friendly staff is ready to discuss options.



Categories: Finance