At Hall Mazda Virginia Beach, we’re here for every stage of the vehicle ownership process. This tax season, our guidance goes further than helping you take home the perfect new vehicle. Learn about the top questions you’ll want to ask before using your tax refund on the next car with help from our expert team.
Should I Buy New or Pre-Owned?
When you buy a pre-owned car, your tax refund will go further than with a new car, as pre-owned vehicles have lower down payments and monthly costs. You’ll also see more of your vehicle value returned to you when you sell, since most depreciation affects new vehicles. If you’re interested in a car with specific features, purchasing new might be the right option for you.
Should I Repair or Replace My Vehicle?
You may also be deciding whether to use your tax refund toward vehicle repairs. Scheduling regular service can be a very useful way to extend vehicle life and save on future repairs and replacements. If your vehicle is totaled, however, meaning the value of the car is less than the cost of repairs, you’ll want to consider replacing it.
Should I Increase My Credit Score or Down Payment?
Increasing both your credit score and your down payment can be useful practices for improving your financing options, and a tax refund can help with both. If you are able to use your refund to get your credit usage below 30%, that can go a long way to increasing your score and options. You do want to try to put down 20% of your vehicle’s value on the day of purchase, so consider your budget before allocating your refund.
Begin the MAZDA Financing Process in Virginia Beach, VA
No matter what your Mazda financing needs might be, Hall Mazda Virginia Beach is the dealership for you. We provide the insight and resources that make the difference during tax season and beyond. Visit our dealership to get started.
