Refinancing vs a Trade-in: Which is the Better Option for Your Needs?

There are many reasons why you may be considering refinancing your car or trading it in for another one. If your car payments are too high, you have high interest rates, or if your credit score has improved, you may be considering a trade-in or refinancing your car. At Tom Scott Honda in Nampa, ID, we want you to be informed about both options, which is why we welcome you to read our content below.

Refinancing and a trade-in both offer lower interest rates and lower monthly payments. However, if your vehicle is too old or not worth enough, you may not be able to refinance. On the other hand, a trade-in may not be a suitable option if you are upside-down on your automobile loan.

We invite you to stop by our showroom to speak with one of our representatives and learn more about your options.

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