We're still in the winter season but spring is just around the corner, and that means it's time to be thinking about a new Hyundai Tucson or Santa Fe that can put new spring in your step. Uncle Sam can help you with that goal by sending you a sizeable tax refund this year. If you've got one coming, you can use it to help you pay for the new SUV or sedan you've been dreaming about and turn those dreams into reality at D’Arcy Hyundai in Joliet IL.
Use your tax refund to increase the size of your down payment
Did you know that about three out of every four American taxpayers will get a federal tax refund this year? If you're one of those people who's looking forward to getting a check in the mail, the size of that check could be in the neighborhood of $3,000, the average tax refund. You can use that money to make a bigger down payment on a new Hyundai Elantra or a Hyundai Santa Fe and put your next vehicle within easier reach.
Your tax refund can lower the amount you have to pay every month
When you put more money down on a car loan, that reduces the amount of money you'll have to borrow. When that number is lower, you’re giving yourself a lower monthly car payment and that helps free up more cash for your family. A lower monthly payment will make it easier to pay off your car loan and might let you shorten the length of your loan so you can pay it off faster.
Your tax refund can help you get a better car and a better loan
With several extra thousand dollars to spend, you might be able to upgrade and add special features that weren't quite affordable before. By making a bigger down payment, you convey to lenders that you are a better risk and that makes them more likely to approve your application. You might even get a lower APR. Ask us for other good tax ideas at D’Arcy Hyundai in Joliet IL.
