Should I Refinance or Trade In My Car?

If you've noticed it's getting harder each month to make your car payment, you might benefit from taking a look at your financial situation to see if you can refinance your loan. Securing a lower interest rate will result in a lower monthly payment.

Depending on how long you've been repaying your current loan, it may have positively impacted your credit rating. A higher credit rating helps you to get a better interest rate, so refinancing could pay off enormously over time. If your credit rating hasn't budged much, you can also trade in your car for another model and lower your monthly payment that way.

Don't try to make this decision alone. At Hugh White Honda, our loan experts can help you come up with a payment plan that suits you when you refinance your car with us. Sit down with us today, and we'll have a look at the numbers together.

 

 

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