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How to Buy a Car with An Income Tax Return

Are you hoping to use your tax refund to purchase a new vehicle? Whether you are looking to buy or lease a new car, truck, or SUV, tax season is always a good time for upgrading your ride. Lots of dealers provide excellent tax season offers. Generally, American taxpayers can get around three thousand dollars in tax refunds every single year. This means smart car buyers can leverage this cash as a nice down payment towards a new vehicle which generally gives customers with low interest rates and even decrease regular monthly installments when financed.

how to use your tax return to buy a car

How to Use Your Tax Return to Purchase a Vehicle

If you wish to invest your tax return on a new automobile purchase or lease, we have some good news for you. The typical tax return is usually enough to cover a substantial part of the down payment. If you’re not wanting to get a brand-new car, truck, or SUV, you could also utilize your return to pay off a part or all of your existing car loan.

If you have questions about how to use your income tax refund to get a new car we have some suggestions and ideas from our automotive financing specialists.


  • Using a Tax Return Towards Down Payment:

  • Our financing specialists suggest paying a significant down payment to help you get an auto loan for your next car. Even if you are choosing to lease your new vehicle, having a significant down payment can help reduce your month-to-month payments. By utilizing your tax refund as a down payment, purchasers might qualify for better car funding options.

  • Income Tax Return For Pre-Owned Vehicle Buying:

  • While brand-new cars certainly have their own set of advantages, a pre-owned vehicle is an affordable choice for many budget car shoppers. With a little bit of research, it is very easy to find a good deal on a used automobile. And smart buyers can utilize their refund as the deposit towards the purchase of that vehicle.

  • Use Your Tax Refund On an Auto Lease:

  • Beginning a car lease with a larger down payment might substantially reduce how much the monthly payment will be. It is extremely helpful even when customers wish to prolong the lease since most dealerships will usually permit the customer to extend their current lease with a lower monthly payment on a month-to-month basis.

  • Paying Off Current Car Loan:

  • Using your tax return to pay off an existing car loan is always an outstanding idea. Customers can use that extra money to substantially lower the existing balance on their existing automobile loan. And they can do this either by making a couple of extra payments or by paying off the balance in full. Paying off or considerably decreasing the remaining balance will decrease the amount of interest that would have been paid with time.


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Phone: (505) 797-3600

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5010 Alameda Blvd NE Albuquerque, NM

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Land Rover Albuquerque
Land Rover Albuquerque
5010 Alameda Blvd NE
Albuquerque, NM, 87113 United States
(505) 797-3600
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Land Rover Albuquerque 35.1838378, -106.5886568.