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Understanding Basic Financing Terminology

Here at Wholesale Investments Inc., we want all of our customers to be as well-informed as possible. Some of the phrases that you hear throughout the car buying process might be confusing, and that is why you should spend some time familiarizing yourself with basic financing terminology.

One of the most important terms that you are going to come across is APR, or annual percentage rate. That number indicates the total interest that you are going to pay over the course of a year. Cosigner and creditor are two other terms that you might hear or see when signing your…

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Refinancing or Trading In Your Vehicle Depends on Your Situation

Should I refinance or trade-in my car to get another one? That's the question that many drivers face when their financial circumstances change. There's no definitive answer to that question as it really does depend on your situation.

Refinancing works well if your credit has improved significantly from the time you first purchased your vehicle. You can get a better loan rate and end up saving significant money that you can put toward something else. Trading in your vehicle is a better option if your monthly payments have suddenly become a hardship. 

 

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