A Quick Guide: Refinancing VS Trading in Your Car

FIAT of Vancouver is here to help you make wise decisions. Part of what you need to do that is knowledge, such as information about refinancing your vehicle or trading it in.

Refinancing vs Trading in the Car

We do not want the people of Vancouver to make decisions like these without understanding what they are getting into, so keep the following in mind:

Refinancing Pros
  • Interest rate could be lower
  • Paying less could increase cash flow
  • You can change the lender if you do not like the current one
Refinancing Cons
  • You may switch to a bad lender
  • Extending loans means paying for a longer period of time
  • Interest rate, even if lowered, adds up
Refinancing could be a good option if you want to keep your car. Trading in your vehicle is a good choice if you are tired of your vehicle, or are in need of a vehicle that can meet new needs, such as more seats.

Come on down to talk to us about your options, and take a test drive if you are ready to trade in your vehicle.

 

 

Categories: Finance
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