If you're on the lookout for a new car, this is the perfect time to give it a go. It's tax season, and that means tax refunds. Here in the United States, many taxpayers get substantial payouts back from the government. You can use this payout towards a car.

Ways to Use Tax Refund

There are multiple ways that you can use your tax return to help you with your vehicle goals. Here are some of these methods as a place to start.

Initial Down Payments

If you need a down payment for the new car you're planning on purchasing, you can just use your tax return. Even if it's not enough to cover all of it, this is certainly a good place to start. Plus, it can give you an extra boost to your initial payment which could reduce your monthly payments, in the long run, making your new car more affordable. Plus, this could also reduce interest over the term of the loan as well

Paying Off Loans

Also, if you still have a loan on your existing vehicle, you could instead use your return to help pay that off. It's nearly always useful to reduce debt when you can. You may also be able to reduce interest by paying it off early if this is allowed in your loan.

Pre-owned Cars

Another possibility instead of purchasing a new car is to buy one that's pre-owned with your return. This has the advantage of making it so that your tax return will go much further since the cost will be less. Plus, since our dealership checks all vehicles for safety and performance, this is a great option.

Servicing Your Vehicle

Another option that may work well for you, depending on your situation, is to instead repair a vehicle you already have. If you like your vehicle, but it needs work, your tax return is an excellent way to help get your vehicle running the way you want.

For more information about using your return towards a vehicle, please don't hesitate to contact us at our dealership today.