If your car payments are causing you financial stress in Shelburne, VT, you may already be considering whether you should refinance or trade-in your vehicle. MINI of Burlington is going to share how both refinancing and trading in your car can save you money. We’ll also cover what you should consider when choosing between the two options.
Refinancing your car is a method that allows you to change the terms of your car’s payment schedule. This can allow you to decrease your monthly payments and/or lower your total interest. If either or both of these opportunities are present, refinancing your car allows you to keep your vehicle and decrease your financial burden with less demanding monthly payments.
When you trade your car in, you are choosing to replace your car with another one. This option comes into play when you recognize that choosing a new vehicle is better for your financial health. If you trade your car in for one that has better fuel economy, lower taxes, and more favorable insurance rates, you can save considerable cash on your regular automobile expenses.
