Trading in a vehicle means that you are willing to part with it to get something upgraded from a dealership. This is not a bad proposition except for the fact that the dealership is very likely to make a deal that is best for them.

Refinancing is another great choice if you can get it. Refinancing means that you can get a lower interest rate and even extend out the loan term in some circumstances. An extended loan term and lower interest rate mean that you pay less each month to drive that care around.

It is never easy to get a refinancing deal because lenders don’t really want to lend on something that they know loses value as time goes on. They avoid making such a deal and you will have a very difficult time trying to get that kind of situation to work out for you. Make sure you view both options with a critical eye.

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