At MileOne Autogroup, you’ll find more than just safe, reliable, and powerful vehicles. You’ll also find the financing tools and resources that will help you take home a vehicle you love at the right price to fit your budget. This tax season, get the answers to your pressing financing questions at our dealerships.
Should I Buy a New or Used Vehicle With My Tax Refund?
Using your tax refund toward the purchase of the next vehicle can be a smart decision. The more you can put down on the day of purchase, the more you’ll save on monthly payments and accrued interest costs. If your tax refund allows you to purchase the perfect vehicle without going over budget, that might be the right option for you. If you’d like to stretch the refund further and see more of its value returned due to the lower rate of depreciation in pre-owned cars, you may want to consider buying pre-owned.
Should I Replace or Repair My Vehicle?
A tax refund can be a useful resource for repairing your vehicle if you have been holding off. That said, you want to make sure repairs are the right option. If the cost of repairs is more than the value of the vehicle, meaning the car is technically “totaled”, it might be time for a replacement.
Should I Put My Refund Toward My Credit Score or a Down Payment?
Both your credit score and your down payment are important factors to account for when financing. A higher credit score means more favorable term options, and paying your usage down can increase your score. Consider if your refund will be able to get your usage to below 30%, in which case, you may benefit more from increasing your credit over your down payment.
Begin the Vehicle Financing Process This Tax Season
A tax refund can make all the difference when applying for new car financing. Let MileOne Autogroup guide you through the process. Visit our dealerships to explore your savings options today.