The next vehicle that you own can be a choice that you make, but you need to decide between refinancing it or trading something in for an upgrade. There are advantages and disadvantages to both approaches, but you have to decide which way to go about things.

One advantage of refinancing is that you save money on a vehicle you already own. The downside is that you don't get to upgrade the vehicle that you have now. It is also difficult to find a lender to do this deal.

The advantage of trading in the vehicle is that the deal can be done today, you can get something newer than what you have now, and you can make the transaction happen at almost any dealership that you can possibly find. There are a lot of upsides here, but understand that you will not get anywhere close to full value for your trade-in. The dealerships have to make their money as well, and they will make their money no matter what.

 

Categories: Finance