Have you been thinking about getting a new Ram 1500, a new Jeep Grand Cherokee or a new Jeep Wrangler? Maybe the price seems just a bit out of reach but it doesn't have to be. By using your tax refund as a down payment, you can make that new car, truck or SUV a lot more accessible. Use that money wisely and you can create some exciting possibilities when you shop with us at Carl Hogan Chrysler Dodge Jeep Ram in Columbus MS.
Your federal tax refund can help you increase the size of your down payment
About 75% of US taxpayers get a refund from the IRS every year at tax time and the average refund is about $3,000. Of course many people here in Mississippi withhold more aggressively and will get refunds of $4,000, $5,000 or even more. Imagine using that refund to make a larger down payment on a new Ram 1500 truck or a versatile Jeep Grand Cherokee. That cuts down the price of the vehicle you want and makes it more affordable.
Use your tax refund to reduce the amount you pay every month
The more money you put down on a loan, the lower the amount of money you’ll have to borrow. When you reduce that amount, you're lowering the amount of your monthly car payment and that frees up more cash flow for your family. A lower monthly payment will make it easier to pay off your car loan and might allow you to shorten the length of that loan so you can pay it off faster.
Let your tax refund pave the way to a better loan
By using your tax refund to reduce the size of your loan, it makes your loan application that much more attractive to every lender who reviews it. A bigger down payment tells lenders you're serious about paying off your loan and that makes them more likely to approve your application. You might even get a lower annual percentage rate. Ask us about other good tax tips at Carl Hogan Chrysler Dodge Jeep Ram in Columbus MS.