It's Tax Time! Use Your Refund to Invest in a Truck
What are you thinking about doing with your tax refund? Every year your tax refund comes and goes, and sometimes you might not have anything to show for it. Rather than making random purchases, consider making a real investment in your future and your enjoyment — consider buying a truck.
Using Your Refund to Invest in a Truck
There are a lot of ways you can use your refund to invest in a truck. Many dealerships require a down payment, so if you've been saving up, you'll be able to get a bigger, better, and newer truck with your refund. But even if a down payment isn't required, it still reduces the amount of your loan. By putting more money down towards the truck, you'll be able to pay less in interest — and that means that more of your monthly payments can go towards the principle. It's up to you whether you want to pay off your truck faster or get a more expensive truck.
Not only that, but many dealerships know that people are going to be heading out to the lots during tax time, and that means they run some of their best deals during this period. When tax time rolls around, many dealerships are still trying to get rid of their perfectly good, brand new models from the prior year. A prior year model can save you a lot of money.
How to Use Your Refund to Get a Truck
- Send in your taxes to the IRS. There are tons of ways to do it online, and you don't need to wait until April 15th! Get it done early and you'll get your return early.
- Receive your return. Most returns are now automatically deposited into your bank account! Otherwise, you might have to wait for a check.
- Figure out what you can afford. Calculate how much you can afford based on your income. Try to give yourself a little room as a buffer, but don't try to spend all the money.
- Take a look at some of the trucks you'd like. You should have an idea about towing capacity, size, and so forth before you start browsing the lots.
- Arrange for financing. Some dealerships even offer their own. You can then visit the dealership and pick out a car!
The Advantages of Getting a Better Truck
It isn't just about having a flashier vehicle. A better truck will be more reliable, which means you'll be able to get to work more reliably and maybe even pick up some jobs on the side. A reliable truck will cost less in repairs and maintenance, in addition to being more convenient overall. Is your 'tax money' really 'truck money'? If not, it should be!
Ready to start searching for a truck? Stop by and see us today at Cambridge Truck! We have a variety of options to choose from, and we're sure you'll find something you can't live without.