Sometimes your personal finances change significantly after you buy your vehicle at Galpin Volvo. When this happens, you should consider whether trading in your vehicle or refinancing it is better suited for your current situation. Here is what you need to know to make an informed decision.

If you are struggling to make your car payment because of additional expenses or a reduced income, you're better off trading it in. Buying a less expensive vehicle will reduce your payments, and possibly even eliminate them, while also reducing your insurance payments. Being better able to meet your payments will reduce stress too.

For buyers who have improved their financial situation, refinancing may be a better choice, especially if your car is fairly new. Check your credit score. If it has improved significantly, you can get a lower interest rate, which also reduces your payments and provides extra working funds.

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