As tax season approaches, many vehicle owners eagerly wait for their tax refund. At Fields MINI of Glencoe, we recommend setting a budget before using your tax refund for financing or other scenarios, depending on the amount you receive. We’re highlighting three ways you can use your tax refund for your MINI vehicle.
Use It to Make a Down Payment on a New MINI Vehicle
If you’re interested in purchasing a new MINI vehicle, you can use your tax refund to make a down payment for the model you want. Depending on the size of your down payment, you can secure a lower interest rate that suits your budget. It can also help increase your chances of getting approved for MINI financing and secure better loan terms.
Use It to Purchase a Pre-Owned MINI Model
If you want to save extra when choosing your next MINI vehicle, a pre-owned model is an optimal alternative. You can use your tax refund to make a down payment for a pre-owned MINI vehicle. This can also help you lower your monthly payments.
Use It to Cover Taxes and Fees for Your Vehicle
Another way you can maximize your tax refund is to use it to cover several fees when purchasing your MINI vehicle. This includes coverage for the sales tax for a new or pre-owned MINI vehicle and its registration. Using your tax refund to cover these expenses without building extra interest.
Test Drive a MINI Cooper in Glencoe, IL
Regardless of what you use your tax refund for, the team at Fields MINI of Glencoe is here to assist you. Schedule an appointment at our MINI dealership in Glencoe, IL, today. We look forward to meeting with you.