Refinancing vs Trading in Your Vehicle

Your car is a valuable possession that you want to try and keep at all costs, but when your loans get difficult to pay, you may think that repossession is coming for you. There are ways to avoid repossession and keep your credit intact. For one, you could refinance with your loan company. Finance companies will often offer a refinance option if you have paid a lot into the vehicle and want to get a lower interest rate.

However, for many who are upside down in their car loan, you can get a trade-in offer where you use the equity in the originally purchased vehicle to help you pay for a less expensive car. This typically gets into a lower loan rate and a cheaper vehicle, but it also means that you save your credit from repossession.

Want to see all of your options? See the value for your trade-in at Wagner Kia of Shrewsbury located in Shrewsbury, MA.

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