Whether to Refinance or Trade In Your Vehicle

If you are deciding between lowering your monthly car loan payments through a refinance or trading it in for a new car, your decision should be based on how long you want to keep your car. Refinancing your vehicle lets you drive it longer without committing to a new car purchase. You need to be aware that you will pay more money in interest over the term of the new loan.

Trading in your car is a way to lower monthly payments on your new car loan if you get more in trade-in value than what you have left to pay on your loan. This means that you start off with more equity in your new car and might be able to save up to pay off the new car loan faster.

Explore your trade-in or refinancing options at Reynolds' Subaru to get the great rates and good deals.