This time of year is when many people decide to buy a new car, whether it’s a brand new car or just something new to them, either way, it is a busy season for dealerships! The main reason for this is due to tax returns, they help take a large dent off the purchase price of your next vehicle! The average refund in the USA is over $2,500 so that is a good amount to help lower your monthly payments or even take a chunk off if you are buying it outright with cash.

Things to consider

  • Be sure to not spend the entire refund on the car, set some aside for fees and taxes so those are covered.

  • Just because you can put a little more down on a vehicle, make sure you are still within your budget.

  • Does this vehicle need to last you a long time? If so, this is when you should invest in a better quality vehicle.

  • If you are financing, make sure you aren’t going to be penalized for early payoff. Then each year take your tax refund and apply it towards your loan. This helps with saving interest and paying it down faster!

  • Check your credit. Make sure your credit is where it needs to be so you can get a decent interest rate. If it is not, consider using that refund to help your score by paying off debts first. This will save you a lot of money later on with a lower interest rate.

  • Be smart about your purchase, meaning don’t go crazy and buy a sports car you can’t and won’t drive daily if what you really need is a sedan!

As always, Check Out Dallas Lease Returns Inventory Day or Night HERE for Over 300 Vehicles!