Use Your Tax Refund as A Down Payment To Replace Your Old Car
Having an older car isn’t necessarily a bad thing. However, if your days are riddled with worry about whether your car is going to take you from point A to point B without breaking down, or you’re spending hundreds each month on repairs, it’s time to upgrade to a better vehicle. For the average American living paycheck to paycheck, it may be challenging to come up with a down payment for that new car you need. Fortunately, this time of year there is the option of using a tax refund as a down payment for your purchase.
Average Tax Refund Amounts
According to the Internal Revenue Service, the average tax refund amount is listed as $3,120. This figure may be more or less depending on factors such as the previous year’s earnings and tax credits available. The question that most tax filers have is how to better capitalize on this small financial windfall. In other words, how can you put this money to work for you?
From investments to home down payments, new appliance upgrades, to higher education, the list goes on and on. However, if you’re battling with securing a dependable vehicle to take you to and from work every day, using a tax refund as a down payment is a practical choice.
Buy Used Cars at A Dealer Vs. A Private Owner
Sure, you may be tempted to pay cash for a car found on Craigslist or from a similar source. The idea of not having a car payment for years to come is an appealing one; we agree. Nonetheless, in most cases when a used car is purchased from a private owner, there is no recourse if the car breaks down within a few days of spending your hard-earned tax dollars. On the other hand, cars that are sold from highly reputable dealerships like Fairless Motors, are carefully screened and inspected for quality, performance and reliability.
You can also benefit from the following:
• Warranties – Different used car dealers may offer personalized warranties, so if the car breaks down during the warranty period, the opportunity is generally available to make amends through an exchange, repair or refund, depending on the contract signed. A private car owner offers no such guarantees when selling used vehicles.
• Wide Selection of Inventory – Now that you finally have the funds and leeway to shop for a reliable vehicle, don’t miss out on a chance to get a real upgrade vs. settling for an outdated car, putting you back to square one after a while. It’s important for potential car buyers to complete due diligence and perform in-depth research before buying a car outright, especially if dealing with a private seller. Don’t make the rookie mistake of blowing your tax dollars on a “lemon”, possibly even featuring manufacturing defects.
Spare yourself the hassle by shopping with a reliable dealership who has your best interest at heart. Many of the used vehicles on sale at our dealership are just a few years old. Moreover, all the vehicles on the lot have been checked carefully and test driven to verify that it’s safe to get behind the wheel. A cash purchase from a private owner may save you money today, but in the long run, it could wind up costing you much more.
Improve Your Credit – If you have bad or no credit at all, taking out a car loan is one of the easiest ways to build or improve your credit over time. The key is making the payments on time. Many of our shoppers come in discouraged about their credit situation – and walk away with a renewed lease on life.
With a new car loan, you get the option to correct past financial mistakes or start building a more secure financial future. In a world that runs on credit ratings, Fairless Motors will often approve applicants with bad credit, even if you’ve been turned down elsewhere. So, whether you’ve been plagued by a bankruptcy, missed payments or other negative records on your credit report, we look at life through the windshield, not the rearview mirror.
As mentioned earlier, all our vehicles are carefully screened. As a promise to you, all the cars on the lot have undergone:
• A Series of Test Drives
• Complete Inspections
• Paint-Less Dent Repair (If Applicable)
• Professional Detailing
• Service and Maintenance
You will also get a complimentary Carfax or AutoCheck vehicle history report.
Types Of Cars On The Lot
Come in to see our top-of-the-line pre-owned vehicles, including:
Get all your favorites at a fair price!
Shift The Gears In Your Favor
This tax refund season, make a sound financial decision to spend your money wisely on an essential tool that will help move you forward. A reliable vehicle is not a luxury, it’s a practical way to complete day to day activities in less time and with fewer frustrations.
In Philadelphia, for example, the bus or subway lines are always available. However, a private and reliable vehicle provides the option to get from point A to B faster, easier, and in more comfort. Whether you’re a single professional or a family of four, Fairless Motors is driven to help our neighbors and friends experience the delights of car ownership, for less.
Accelerate Your Goals
To further leverage the current funds received from a tax refund, also consider making a bigger down payment to lower the interest rates or decrease the monthly notes due.
Get Back On The Road Again
Go through life with confidence and fearless independence behind the wheels of a stylish and comfortable pre-owned vehicle. Fairless Motors is a used car dealership based in Fair Hills, PA, and has been serving customers in Pennsylvania and New Jersey for more than 25 years. When you come into our dealership, there are no pushy salesmen on our lot. You’re in the driver’s seat at all times. Give us a call or stop in and leisurely browse through our extensive inventory and get answers to any questions you may have. We are conveniently located at 435 Lincoln Highway in Fairless Hills; our number is 855 560-9740.