Using Your Tax Refund to Buy a Car

The average income tax refund this year is going to be over $2,500. How are you going to make the best use of your tax return money? What better than a low-mileage used SUV or car from Major World, where your money goes further?

Your friends at Major World have some tips for turning that tax return refund into a hot, new low-mileage used SUV or car. 

Your tax refund can open the door to your next car.

Can I Use My Tax Refund Towards a Car Downpayment?

Absolutely. Using your tax return money to make a downpayment on a low-mileage used SUV or car is smart thinking. A healthy downpayment gets you a lower monthly payment.

Buying a low-mileage used truck, car or SUV at Major World saves you thousands of dollars because the original buyer bears the brunt of the depreciation in the first few years.

Most cars lose up to 20% of their resale value in just the first year and about 15% a year after that until year 5. When you buy a 3-year-old BMW 3-series or a 5-year-old Lincoln Navigator at Major World, you’re paying up to 50% LESS than the vehicle cost new just a few years ago.

Not having a reliable vehicle that you enjoy driving every day comes with its own costs. You work hard. You owe it to yourself to treat yourself to something nice every once in a while. The beautiful thing about buying a used car or truck at Major World is that it’s a practical decision you can feel good about.

Why Putting Your Tax Refund into a Fresh Vehicle is a Smart Money Move

The first owner has already absorbed 20-50% of that depreciation hit for you. You also get the peace of mind that comes from buying a vehicle that has undergone Major World’s rigorous inspection and approval process. We won’t even put a vehicle on the lot until it’s passed every test we’ve got and been nicely detailed for its next owner.

Lots of people use their tax refund for a car down payment. It’s not hard to see why when you think about it. The more you pay upfront the lower your monthly payment will be and the less you’ll spend on interest over the life of the loan.

Turning your tax refund into a down payment for a vehicle is smart because:

  • Buying used saves you money off the bat because the first owner eats the depreciation, not you!
  • Making a healthy down payment means lower monthly payments for you, which is always nice.
  • It’s always better to have a car payment than to be paying just to repair that tired old car you’re in now.

One Way to Get 20-50% More Value Out of Your Tax Refund Check

Once you get that tax refund check in your hot, little hands, your first instinct might be to use it as a small down payment on a new vehicle. But, before you do, consider this: The average new car loses up to 20% of its resale value in the first YEAR. Over the first FIVE YEARS, it can lose as much as 40% of the original price.

That may be bad news for new car buyers… but it’s good news for you if you shop for your next SUV or car at Major World. A Ford Explorer or Chevy Tahoe that’s a few years old still has plenty of life left in it. What’s better is that someone else has already eaten the bulk of that depreciation. That leaves you in the catbird seat, ready to swoop in and get a great SUV for a fraction of its original MSRP.

Why using your tax refund on a low-mileage used SUV makes sense:

  • A new SUV loses as much as 20% of its purchase price in the first year.
  • That new SUV loses as much as 40% of the initial price in 5 five years.
  • It’s looking like we may have a snowy winter, a fresh AWD SUV would be nice. 
  • The average tax refund this year will be $2,500+ — plenty for a nice downpayment. 

How much are you getting back this year?

How to Get up to $4,000 Back From The IRS and Cut Through Traffic in the HOV Lane!

The average price of regular gas on Long Island at the time of writing is $3.61 a gallon. While that’s lower than it was, it still sucks if you drive a lot like we do. What if we told you there’s a way you can get up to another 4 GRAND back from Uncle Sam, spend less on gas and slice through traffic by using the HOV lane, even when you’re driving solo?  Sounds too good to be true, right?

Well…it’s not. Here’s a secret a lot of people still don’t know about. If you buy a used plug-in hybrid soon you can get up to a $4,000 tax credit from IRS. The tax break won’t last forever though,

It gets even better though — in New York, you can also get a Clean Pass Vehicle sticker that lets you drive in the HOV lanes on the LIE, even if it’s just you in the vehicle. We currently have a killer selection of plug-in hybrids and EVs, including the Jeep Wrangler 4Xe! Does having a powerful SUV or luxury sedan that gets twice the MPG you do now, a $4K tax rebate, and driving in the HOV lanes on the LIE sound good to you? Yeah, we thought so! So, what are you waiting for? Get down to Major World!

How to save on gas, get up to a $4K tax rebate, and drive in the HOV lane:

  • Do your taxes and get your regular refund.
  • Go to the EPA’s fuel economy website about the tax credit here.
  • Go to the New York DOT Clean Pass website here
  • Come to Major World and pick out your plug-in hybrid! 

It’s Time to Step Up into the Luxury Car You Deserve

You worked hard this year.  The economy is climbing out of the crater it was in and optimism is on the rise. But… you’re still driving that same tired old vehicle to work, aren’t you? Look around the parking lot at what your co-workers are taking to work. BMW over there. Lexus. Infiniti. Cadillac. Audi… is that a Mercedes-Benz? How did that clown get a Mercedes E-Class?

Enough’s enough. You need nicer wheels. You know you do. You deserve a vehicle you can be proud to drive. Otherwise, what are you doing all this hard work for? But you’re too smart to get yourself upside-down on a loan for a new BMW or Mercedes. That’s where Major World can be of service to you. 

Major World Helps Your Tax Refund Go Further

We maintain a stable of low-mileage thoroughbred pre-owned luxury cars throughout the year. Your tax refund will make a nice down payment on a beautiful Cadillac, Audi, or Mercedes-Benz and Major World’s competitive, no-hassle financing makes the rest a breeze.

 Let your co-workers be the ones gazing jealously across the parking lot at your ride for a change. We offer a straightforward financing process that you can start online before you even get here (nope, it won’t ding your credit!). 

Check out our competitive inventory through our online search portal. Don’t settle for less than the very best used car dealership in Long Island. You deserve the Major World standard of customer care. Give us a call now at (866) 614-2884.

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