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GMC Financing Tips: Refinancing vs. Trading In

Toy car sitting atop GMC financing paperwork

If you’re looking for a new GMC financing plan, you can either refinance your current model or trade in your vehicle for a new one. Refinancing is a great option for keeping your current vehicle, but trading in lets you save money on a newer model. The team at McGuire Buick GMC outlines the key benefits of both options.

Refinancing

Refinancing is the process of starting a new loan for your current vehicle with a different lender. With this option, your new lender will pay off the rest of your current loan and set up a new financing plan with you to pay off the difference. Often, refinancing your loan can help you reduce your lower monthly payments or give you better interest rates.

Trading In

If you’re looking for a new model, trading your current GMC model in is the better option. You can trade your vehicle in to our dealership when you sign for a new vehicle and apply the trade-in value immediately to your new vehicle loan. We’ll take the vehicle off your hands and you’ll receive a discount on your new model to boot.

Which Is Right for You?

Depending on what you want to do with your current vehicle, either refinancing or trading could be the right option. Drivers who want to keep their model and have improved their credit score with on-time auto payments can reduce their monthly payments with a refinanced plan. But if you want to own a newer vehicle, trading in your current model provides you with a discount on the principal.

Compare GMC Financing Options in Little Falls, NJ

Want to find out more about GMC financing options for your model? Contact McGuire Buick GMC to explore refinancing plans or value your trade-in.

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