Here's What Cedar Rapids, IA Drivers Should Know About Refinancing vs. Trading in a Car

One question we often get from our customers here at Cassill Motors is how they can get a lower car payment. Sometimes life circumstances change, making it difficult to afford your current rate. Maybe you aren't happy with your loan terms. Regardless of the reason, it is possible to pay less per month. Two of these methods are refinancing and trading a car in.

You may opt to refinance your vehicle if you like it and hope to keep it. If you have a better credit rating than you did when you got the loan or if you have a co-signer, you may be able to get a new loan at a lower interest. This could significantly reduce your payment amount.

Perhaps you've come to realize that the vehicle you chose is simply more than you need or can comfortably afford. It might make sense to trade it in on one that is less expensive.