At Twin City Hyundai, we are aware that many drivers in Alcoa, TN are unsure of whether refinancing their vehicles is the appropriate option. Perhaps trading in the aforementioned vehicle could provide greater benefit. Naturally, this dilemma's answer is heavily dependent on each driver's unique financial situation. A few key factors should determine a driver's ultimate decision to either trade in their current car or pursue refinancing instead.

The first factor that most drivers will recognize is that being unable to keep up with a vehicle's payments is not practical. If that vehicle's purchase included a loan with relatively reasonable terms with regard to its interest rate and time limit, then refinancing will rarely solve anything, and a trade-in is the appropriate alternative.

The changes in a driver's credit score, as well as their car's longevity, will similarly impact decisions. With either a lower credit score or an aging vehicle, a trade-in is once again superior to refinancing.

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