Should I Refinance or Trade Out?

Stuck with a high car payment? Compare refinancing vs. trading out your vehicle — and how to know which makes more sense for your Florida situation.

Written by Dustin, General Sales Manager at Lee Auto Group Tampa, FL. About Dustin · All Articles · Get Pre-Approved

Call or text Dustin directly at (813) 727-7168. Visit Lee Auto Group at 4027 S 50th St, Tampa, FL 33619.

Frequently Asked Questions

How do I know if I'm upside down on my car?

Get your current loan payoff from your lender, then get an estimate of your vehicle's value from a dealer or market comparison. If payoff > value, you're underwater (upside down).

Can I refinance with bad credit?

Yes, though your options are more limited. If your credit has improved at all since your original loan, refinancing may still save you money. Even going from 22% to 17% is a meaningful improvement.

How long does it take to refinance a car in Florida?

Most refinances close in 2–5 business days. Your new lender pays off the old loan and you begin making payments to the new lender.