Refinancing Versus Trading In Your Car

Being an informed car buyer is important. It can save you thousands of dollars throughout your lifetime. That is why our team of experts at Gillman Honda San Antonio located right here in Selma want to be sure that you understand the pros and cons of trading in your car versus refinancing it.

The biggest downfall to trading in your car is that, if you still have a few months until you pay it off, the cash you receive for the car must be used towards the remaining balance. The biggest upside is that, if you do have the car paid off, you can put its full value towards the purchase price of a brand-new car. The biggest downfall to refraining is that it can cost you more money as you will be paying interest for a longer time. The biggest upside to it however is that it lowers your monthly payment.



Categories: Finance