Refinancing vs. Trading in Your Car

The Honda finance professionals here at Honda of Tysons Corner want drivers to make informed vehicle purchases this year, so we are going to help you to understand the differences between refinancing and trading in your vehicle.

When you refinance, you are able to get a lower payment, which can help those who are having trouble making ends meet. The one real issue is you shouldn't refinance if your vehicle is too old or hasn't any resale value left, it will be like taking out a whole new loan.

Trading in a car is a great way to get a new car on the lot for far less than the advertising sell price. Now you can get lower monthly payments, as long as you aren't underwater in your old loan. If so, you'll be adding all those future payments on to the new loan, costing you more each month.

Come by today and you can finance your vehicle through Honda of Tysons Corner.



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