The best part about tax season: getting your tax return. The average tax return for 2014 was around $2,650 and this year the average return is supposed to near $3,000. With all that extra cash in your bank account, it's easy to make a big purchase like a car possible.
Buying a new car, using your tax return as a down payment is a smart financial decision.
Reasons why using your tax refund as a down payment is smart:
Reduce your monthly payment: The more money you are able to put down up front, the cheaper your car payments will be. An average down payment of $3,000 can lower your car payment by $60 a month.
Shorter loan agreement: Making a larger down payment can decrease the total amount you owe against the car, resulting in an available quick pay off time.
Smaller interest rates: Paying more up front means you are borrowing less money. Depending on your situation, this could mean lower interest rates, which saves you money in the long run.
Afford a more expensive car: Having extra cash can allow you the freedom to get the premium package instead of the standard. That means a premium sound system, larger rims and added safety features.
These are some of the benefits of using your tax refund as a down payment on a new Volvo. Remember, your tax return is your hard earned money! Whatever your situation is, you can't go wrong using your tax refund as a downpayment.
Fall in love with our Volvo lineup at Volvo of Tulsa, proudly serving the Tulsa, Bixby, Broken Arrow, Jenks, Catoosa, Coweta, Broken Bow and Sapulpa area.
If you're looking for a smart, luxurious vehicle built around the priority of safety, come to Volvo of Tulsa and test drive any of our 2014 and 2015 Volvo models.