As we're in the midst of tax season, you may be wondering what you will ultimately do with your return. If you're currently looking to upgrade your vehicle, one of the best things you can do with your return is to apply it to an auto loan or lease.
Depending on how much your return is, you could apply it to your down payment. The more money you put down, of course, will alleviate the amount of money that you need to borrow to drive a new Subaru model or pre-owned vehicle. If you already have your down payment saved, you could apply your refund to your monthly payments. Keep in mind, however, the higher the down payment you have, the lower the monthly payments could be. This amount will continue to decrease if you have a vehicle you would like to trade in.
If you plan on leasing, you may not be required to put down a down payment at all. Instead, you could put your tax return aside for the first couple of monthly payments. This is a great way to stay on track with your payments without having to take away from your monthly income.
Are you ready to get started with the car-shopping and financing process? Have any questions before you get started, such as questions surrounding poor or unestablished credit. If you hail from Providence, Cranston, Pawtucket, South Kingston, RI or Attleboro, MA, consider joining us at our 561 Quaker Lane location in West Warwick.
