If you’re like many Americans, you’ll be receiving money from your tax refund. While there are many ways you can spend your refund money, why not use it toward your next new or used vehicle? Spending any amount on your vehicle, whether it’s a current model or you’re preparing to purchase, will benefit you in the future, making your financial burden much lower. Here are a few ways you’ll want to consider using your tax refund toward your next new or used vehicle.
- As a Down Payment – Whether you’re purchasing a brand-new Ford vehicle or you’re looking into buying a used vehicle, using your tax refund as a down payment is a great way to lower overall costs. A down payment not only lowers your overall purchasing price, but also lowers your monthly payment, lessens the amount of interest you receive, and more. Vehicle financing experts recommend a 20 percent down payment on any vehicle purchase, which could very well be your tax refund amount.
- To Pay Off Your Current Vehicle – If you already have a car loan, you may want to use your tax refund to lower or pay off your remaining balance. Although you won’t get a new car out of the deal, you’ll be reducing your monthly bills and earning more equity in your vehicle when you do decide to use it as a trade-in.
Contact Duval Ford to Learn More About Your New and Used Car Options
Whether you’re looking for a new Ford vehicle for your Jacksonville, FL, or MacClenny area drive, you’d like to purchase a used vehicle near Callahan, FL, Hilliard, FL, or Kingsland, GA, or you’re more interested in talking about your current financing options, our Duval Ford dealership is here to help. Feel free to reach out to our team or stop by our Jacksonville, FL, dealership today.
