Tax season can be a time of dread, but – as many filers are finding out with larger-than-usual refunds this year – it can also be an opportunity. Heritage Subaru Owings Mills has some timely tips to make the most of that extra cash, and a few reasons that tax season is an excellent time to buy. Learn how you can save, turning today’s savings into vehicle value for the future at our dealership.
Boost Your Credit Score
One of the best ways to improve your vehicle financing terms is by improving your credit score. You can boost your credit score by paying down credit usage, ideally to below 30%. This means more vehicles will be available within your budget, and it also means you’ll likely qualify for lower interest rates, so you spend less on accrued interest over time.
Increase Your Down Payment
When you put more money down on your vehicle on the day of purchase, you save on financing in the long run. That’s because you’ll have smaller monthly payments, so there’s a lower chance of falling behind. When you pay your vehicle off more quickly, you’ll also spend less money on interest, so any sale or trade-in of your vehicle will net you more value.
Purchase Pre-Owned
You can truly make the most of your tax refund when you purchase a pre-owned vehicle. That’s because pre-owned vehicles have a lower rate of depreciation than new models, and already return significant value during the selling process. Combine that will a large down payment and associated smaller interest costs, and you’ll enjoy value that lasts.
Finance Your Next Subaru Vehicle in Owings Mills, MD
When it comes to Subaru financing, there’s no team like Heritage Subaru Owings Mills. We provide the tools and resources that make the financing process easy, and insight into ways to save during tax season and beyond. Visit our dealership to get started today.
