Oftentimes, people use their tax refund to help pay off their credit cards or put it towards a savings account. But if your Lakeland and Valrico drives could use an upgrade, you can also lease or buy a car with your tax refund. Whether you use your tax refund for a down payment on a car or to pay off your current auto loan, you’ll be in a better financial position. Explore the various ways you can spend the refund this tax return season below.
Regardless of when you’re investing in a vehicle, you should always figure out your budget, so you can make a financially sound investment. Use Stingray Chevrolet’s calculator to estimate your monthly car payments, and then use our tool to calculate how much your current vehicle is worth when you trade it in.
Thinking about financing a new car? You can use your tax refund for the down payment on a car, so you’ll have to pay less down the road. In other words, the bigger the down payment, the lower the monthly car payments. Even if you plan to use some of your savings as a down payment, you can also use your tax refund to put down more money upfront. A bigger down payment can also mean more advantageous loan terms!
If you’re in the market for a pre-owned ride instead, you can buy a used car with your tax refund and enjoy an even better deal than you’re already getting. Check out our selection of used cars priced under $20K.
If you want to switch up your car every few years, consider a lease instead. Get a car with your tax refund, so you can put yourself in a favorable spot at the start of your new lease. When you use your tax refund for a down payment on a lease near Brandon, your monthly payments will be much lower and you confidently start the lease!
If you don’t need to immediately opt for a better ride this tax return season and you already have an outstanding car loan, you should apply your tax refund towards that loan. When you do this, you’ll be one step closer to financial freedom! Even if you’ve consistently made payments, putting the refund towards your loan will help you pay off the full amount quicker.
Now that you know the ways how you can get a car with your tax refund, feel free to get in touch with the team at Stingray Chevrolet if you’d like more information. We’d love to hear from you and help you get into a vehicle that’s worthwhile in Plant City!
