Should You Refinance or Opt for a Trade?

If you are looking to lower your monthly car payment, it may be tempting to trade your current vehicle in for one that is less expensive. However, in some cases, you could reduce your car payment by refinancing your current loan. You can do so by visiting us here at Autoline of VA in Chantilly, VA or contacting a local financial institution.

A dealer lender or other organization may offer a lower interest rate than the one you currently pay. Private lenders may also be willing to offer terms that help to reduce your monthly payment. The terms that you receive largely depend on how old your car is, its features and its condition.

If you have an older car that has sufficient equity, a trade can be a smart decision. Using a refinance vs. trade calculator may make it easier to see which option makes the most sense in your situation.

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