If your car payments are starting to put a strain on your budget, then you want to refinance it or trade it. There are several factors that should play a role in the decision that you make. Your overall financial situation is one of the factors that you should consider.

If you are having trouble making the monthly payments, then refinancing may not necessarily improve your financial situation. It may be best for you to trade it in. Your credit score is something else that you may want to consider. If your credit score has improved since you got your original car loan, then you may be able to refinance and get a loan with better interest rates.

Additionally, if your car is on its last leg, then you may want to trade it in. Keep in mind that if you get a new car, then you can finance it through the dealership.

 

Categories: Finance

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