Tips for Spending Your Tax Return on a Car
When you get your tax return, there are lots of thing you can do with the money. One thing to do with it? Finance a new car! Here are some tips on how to spend your tax return on a car and do it wisely.
If you want to use your tax return money on a new car, you should do some shopping around. First, you’re met with a couple of options: new car or used car?
Do you want to go without a car payment? Cutting out your car payment every month seems tempting, but you have to weigh the pros and cons. If you want a pay for a car, in full, you’ll need to look at used cars. But don’t just buy a junker. Look for reasonably-priced cars with low mileage. These will give you the most bang for your buck.
If a new car is for you, then just think wisely about it! Look at cars that you know you can afford. The shorter your loan terms, the less your car’s value will depreciate during that time. Pick cars you’ll be able to use your tax return on that will shorten your loan term so that you’re never upside-down on the car (paying more than it’s worth).
Just come down to Haddad Nissan today and we’ll help you out!