Elevating Your Drives During Tax Return Season

Are you one of the many people who plan to buy a car with your tax refund this year? It’s a savvy choice to use your tax refund for the down payment on a car! No matter what size tax return you’re expecting, it can help you get one step closer to an upgraded ride in Monroeville. Read ahead to check out Spitzer Toyota’s tips for ways you can utilize your tax refund to get a new or pre-owned vehicle this year.

Budgeting for Your Vehicle Purchase

A car upgrade is always exciting, but before you get too far ahead, you should figure out the financials. Budgeting is key to ensuring your financial stability while treating yourself to an elevated ride near Murrysville. Start with calculating the monthly car payments, and see how much your current vehicle is worth when you trade it in.  

Use Tax Refund for Down Payment on a Car

You can use your tax refund for the down payment on a car if you’re thinking about financing a new vehicle. You might’ve noticed that the bigger the down payment, the lower the monthly car payments. Even if you have some savings set aside that you were going to use as a down payment, consider also using your tax refund, so you can put down more money upfront. A bigger down payment can mean more advantageous loan terms. 

Buy a Used Car with Your Tax Refund

Are you considering a pre-owned vehicle instead? You can still have many great options at Spitzer Toyota! Plus, when you buy a used car with your tax refund, you can enjoy an even better deal than you’re already getting from our new-to-you selection near Irwin.  

Get a Car Lease with Your Tax Refund

Besides getting a car with your tax refund by financing, another option is to start a new car lease. Get a car with your tax refund when you use your refund to begin your car lease on the right foot. When you use your tax refund for a down payment on a car lease, your monthly payments will significantly reduce and you can drive around your brand-new car in North Huntingdon while knowing you’re off to a great start! 

Apply Your Tax Refund Toward an Existing Auto Loan

What if you already have a car loan? You are probably better off paying off your current loan amount with your tax refund if you can hold off upgrading to a different car. This way, 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. 

Need Car Finance Help During Tax Return Season? We’ve Got You! 

Whenever you’re ready to buy a car with your tax refund, our team will be here to help you find the ideal new or used vehicle for the right price. Get in touch or stop by our showroom in Monroeville when your tax refund arrives!