Buying a new vehicle is an exciting moment. However, sometimes, unexpected events make the payments a budget problem. Owners wrestle with whether they should have the remaining balance refinanced or trade-in the vehicle for a more affordable option.

Consider if the loan comes with a decent interest rate and if the months allowed to pay the loan are appropriate. If the answer to both factors is yes, then refinancing is not a good option. It would be better to trade the vehicle in for a more budget-friendly choice.

On the other hand, if the interest rate is high due to a bad credit score. Determine if the credit score has improved. If the answer is yes, shopping around for a better loan with lower interest may be an option. Before refinancing the load or trading in the vehicle, visit with one of our Charlottesville, VA CMA's Volvo Cars of Charlottesville representatives.

Categories: Social, New Inventory