It is a new year, and you know what that means… tax season is upon us. And that means tax refunds are right around the corner. According to the Wall Street Journal, a third of all Americans spend their refund on auto-related purchases. With that, the Internal Revenue Department reports that the average tax refund is around twenty-eight hundred dollars. That is a pretty sizable amount of money to have fall back in your lap at the first of the year. Some people feel that its money that can be spent on frivolous things such as sixty-inch televisions and shopping sprees while others use their refunds to pay down debt or get ahead on rent or mortgage payments. But this year, why not look at buying a new vehicle with your tax return?
Along with commercials for tax preparation, you will also see plenty of auto commercials. If you are in need of a new car, this is probably one of the better times to purchase. However, that does not mean just walk up to a dealership ready to sign your check away. That can send the wrong message to a sales representative as well and cause them think you are not prepared for the car buying experience. Do your research and come prepared to discuss your questions with a salesman. That will also send a signal that you are serious about the purchase.
Having a sizable down payment for a vehicle plays an important factor when applying for an auto loan piratically for someone with less than perfect credit. It can open options that may not have been available to the buyer otherwise. A larger down payment not only helps the buyer to show the lender they are serious about taking on the loan, but it also reduces the monthly payments which can make the payments more affordable. The more affordable the payments are, the less likely the borrower is to default on the loan. All of this combined makes a lender much more likely to approve the loan and for you to drive your new car off the lot.
One of the biggest things to remember is to slow down and look at the vehicles within your budget. Talk with the salesman about what type of payments you would be looking at and what you can do to make those payments lower and use that to start making your decision. One of the biggest problems that can arise when someone uses tax returns to purchase a vehicle is that they tend to think they can afford a more expensive car since they are putting money down. This generally results in the car having to be taken back later in the year so make sure you stay well within your budget.
So, this tax season, if you are looking to put your refund towards bettering your circumstances come over to Mike Duman Automotive Super Store. Our representatives are here to answer questions and help you to make the best decision for your personal situation. Choose from over 9 acres of quality, low mileage vehicles all priced below market value. Plus, with over 25 cars priced below $10 thousand dollars, payments start as low as $120/month with no money down and approved credit.
Why wait!! Stop by or shop on line and submit an application on our web site at Mike Duman.com. Let our credit specialist go to work for you to get you approved on the right car....right now!
Buy with confidence. Mike Duman has been satisfying automotive needs since 1980.