Here at Volvo Cars Pensacola, we are standing by to help Pensacola, FL car shoppers. Are you wondering if you should refinance your vehicle or trade it in? Deciding which option is better for you will depend on your personal situation. Here is some useful information that can help you decide.

If your credit score has gone up since you took out your car loan, then refinancing may be an ideal option. You should ask yourself if you can get a payment that's more affordable. Getting a lower interest rate can help you save on monthly payments.

If you find yourself struggling to make payments, then a trade-in may be a better option. A trade-in may also be beneficial if your vehicle is on its last leg. Although you may not get much out of your vehicle, trading it in for a dependable model may be a better option than paying for expensive repairs.

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