The Difference Between Trading In Your Car and Refinancing

At Seminole Chevrolet Buick GMC in Seminole, OK, we always want to make sure that our customers have a great idea of the financing process. Whether you are buying, trading in, or refinancing, we want you to know all the facts.

If you are ready to trade in your vehicle, it is usually because it is paid off or almost paid off. You probably want to put the trade-in value of the vehicle toward your next new car. Using your current vehicle as a trade-in will help you save money on coming up with a down payment, or you may not have to come up with anything for an additional down payment at all.

Refinancing is usually because you want lower monthly payments. When you refinance, there is typically and lower interest rate, which gives you lower monthly payments. You may have a longer loan, but the monthly payments are usually drastically lower, giving you a better financial cushion.

Tags: new Buick inventory in Seminole OK, new Chevrolet inventory in Seminole OK, new GMC inventory in Seminole OK, refinance or trade in
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