Should you refinance your current vehicle loan or trade in for something new? Both Ford financing strategies offer distinct advantages depending on your current loan terms, vehicle equity, and driving needs. Folsom Lake Ford helps drivers evaluate their situations to determine which path makes better financial sense.
When Refinancing Makes Financial Sense
Ford financing through Ford Credit allows qualified buyers to refinance existing auto loans, which can be beneficial when market interest rates have dropped or your credit score has improved significantly. If you’re paying seven percent interest but now qualify for four percent, refinancing your vehicle could save thousands over your remaining loan term. This approach works best when you love your current vehicle and want to reduce monthly payments.
When Trading In Creates Better Value
Trading in your current Ford vehicle works well when you need different capability, when repair costs are climbing, or when newer safety technology becomes important. Our Ford financing specialists help calculate your trade-in value, which can serve as your down payment on a new Ford F-150 or Ford Bronco Sport. This strategy makes sense when your vehicle has accumulated 80,000-plus miles and upcoming maintenance costs loom or when your life circumstances have changed and you need something more spacious.
Which One Is Right for You?
The right decision ultimately comes down to your individual circumstances. Refinancing typically involves minimal fees while keeping your familiar vehicle, which can be great for drivers who don’t want to get into an entirely new loan. Trading in resets depreciation, but you get access to more current technology like Co-Pilot360® and FordPass Connect®.
Explore Your Ford Financing Options in Folsom, CA
For personalized support to find the right option for you, visit Folsom Lake Ford to discuss Ford financing options with our experienced team. We evaluate your current loan, assess your vehicle’s value, and explain how Ford Credit programs can help you achieve lower payments or upgraded capability to fit your lifestyle. Contact us today!
