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9250 Beverly Boulevard, Beverly Hills, CA, 90210

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  • Mon - Sun12:00 AM - 12:00 AM
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  • Mon - Fri7:00 AM - 5:00 PM
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Purchasing a Car with Your Tax Return

Are you thinking about using your income tax return to get a new car? Whether you are looking to buy or lease a new car, truck, or SUV, tax season is always a perfect time for upgrading your ride. Lots of car dealerships offer fantastic income tax season deals. Usually, American taxpayers can receive up to $3,000 in tax refunds each year. This can mean smart car buyers can utilize this money as a good payment towards their next vehicle which typically gives customers with low interest rates and can even lessen monthly payments when financed.

how to use your tax return to buy a car

How to Use A Tax Refund for Purchasing a Car

If you want to invest your return on a new car purchase or lease, we have some good news for you. The typical refund is typically enough to cover a substantial part of the down payment. If you’re not looking to get a brand-new car, you can also use your return to pay off a part or all of your existing auto loan.

If you have questions about using your refund to purchase a new vehicle we have some recommendations and ideas from our automotive financing professionals.


  • Using Your Income Tax Refund Towards a Down Payment:

  • Our financing professionals suggest paying a considerable down payment to help you get a car loan for your next vehicle purchase. Even if you are choosing to lease your new car, having a substantial deposit can help decrease your month-to-month payments. By utilizing your tax refund as a down payment, buyers might qualify for better automobile financing options.

  • Income Tax Return For Used Car Buying:

  • While brand-new cars have their own set of benefits, a used car is a cost-efficient option for many budget car buyers. With a little bit of research, it is very easy to find a good deal on a pre-owned vehicle. And smart car buyers can use their refund as the down payment towards the purchase of that vehicle.

  • Use the Cash For a New Car Lease:

  • Beginning a vehicle lease with a larger down payment can substantially reduce how much the month-to-month payment will be. It is very advantageous also when customers wish to prolong the lease because most car dealerships will typically permit the customer to extend their existing lease with a lower monthly payment on a month-to-month basis.

  • Pay Off a Current Car Loan:

  • Using your income tax refund to repay an existing automobile loan is a superb idea. Customers can utilize that extra cash to significantly decrease the existing balance on their current automobile loan. And they can do this either by making a few extra payments or by paying off the balance completely. Paying off or significantly reducing the remaining balance will decrease the amount of interest that would have been paid with time.


Purchasing a Car with Your Tax Return | Mercedes-Benz of Beverly Hills

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9250 Beverly Boulevard • Beverly Hills, CA 90210

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Mercedes-Benz of Beverly Hills
Mercedes-Benz of Beverly Hills
9250 Beverly Boulevard
Beverly Hills, CA, 90210 United States
(310) 659-2980
https://di-uploads-pod8.dealerinspire.com/mercedesbenzofbeverlyhills/uploads/2016/08/beverly-hills.jpg
Mercedes-Benz of Beverly Hills 34.0769641, -118.3946635.