Using Your Tax Return

Tax season is here and while we are all dreading doing our taxes, we all enjoy the benefit of getting our returns back. If you happen to be in the market for a new car during tax season using your return can sweeten the idea of getting a new car.

The average tax return in recent years has been around $3,000 and buyers may use all or part of their return for a down payment. A large down payment can help you purchase a vehicle by lowering the amount of money being borrowed, can lower the monthly payments and the total cost of financing, as well as showing the lender you are a serious buyer.

Another way to use your refund is to pay down on an existing car loan. Paying down on an existing car loan can be a good use of your refund because you will be carrying less debt. You can do this is two ways; you can make an extra payment or two, or pay down the balance. Extra payments will pay off the loan sooner while paying off the balance reduces the amount of interested being paid over time.

Our finance team here at Nations Trucks wants to make the financing process are easy as possible. We want to work with you to find the best deal for you and you can start the finance process right from home. With the online application you can help speed up the process by getting you approved quickly. If you have any questions regarding financing or using your refund, please reach out to our finance team.

Categories: People, Finance

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