Should You Refinance or Trade in Your Car?

If your monthly car payment is breaking your budget, you may wonder whether you should trade your car in or refinance it. While the answer depends on your specific situation, examining these factors may help you find the right option in Southern Pines, NC.

Most car salespeople aren't concerned about your finances; they're only waiting to make sales. Ask yourself whether you got a good rate on your auto loan and whether the term is reasonable. If you've answered 'yes' to both of these questions, a trade-in may help you more than a refinancing arrangement.

Sometimes, a car simply won't last until the end of a loan term. If you've been told that your car is in extreme disrepair, you may not be able to refinance it. Trading it in for a reliable car may be your best bet.

Consideration of these factors will help you decide whether to refinance or trade in your vehicle. Whatever your decision may be, the finance team at Southern Pines Pre-Owned Superstore can help you find a refinance loan or a trade-in program that meets your needs.

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