Refinance or Trade In Your Car?

If you're beginning to feel that making your car payment each month is a bit of a stretch, you might benefit from refinancing. A lower interest rate could lower your monthly payment and give you some breathing room.

If your credit rating has improved since you first took out your car loan, you may be able to qualify for a lower interest rate loan. If your interest rate isn't enough to lower each payment, trading in your car for another model is an excellent option. You'll be able to lower your payments this way while improving your credit rating. If your car is older, you may not be able to refinance its loan, as banks tend to view this as a high-risk situation. Trading it in for another model is a better option.

At Wyoming Valley Kia, we want to make it easier for you to refinance your car loan. Sit down with our loan specialists and we'll work on a plan together.



Categories: Finance

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