Gas prices are at the lowest they've been in nearly eight years. Combine these low gas prices with a hefty tax return creates one of the best years to use a down payment to buy a new car.
The average tax return for 2014 was around $2,650 and this year the average return is supposed to near $3,000. Households can also expect to save nearly $750 with low gas prices this year. Between all that extra cash from your tax return and low gas prices, it's easy to make a big purchase like a car possible.
Why Should You Use Your Tax Return to Buy a New Car in 2015?
More money in 2015 means you can afford a larger down payment on a new car.
Lower Car Payments
By putting more money down upfront on a new car purchase, the less you will have to pay long term, resulting in lower monthly payments.
Shorter Loan Term
The less you owe long term, the shorter your repayment period is in effect.
Lower Interest Rates
When you borrow less money from a financial institution, the easier it is to get a lower interest rate.
These are some reasons why 2015 is the best time to use your tax refund as a downpayment to buy 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 in combination with savings 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 and efficiency, come to Volvo of Tulsa and test drive any of our 2014 and 2015 Volvo models.