Use Your Tax Refund for a New Car

When that tax refund cash hits your account this month (if it hasn’t already), you probably have a dozen ideas on how to spend it. However, we urge you to consider using such a lump sum to better the everyday quality of life for you and your family with a new method of transportation.

With your tax refund, you could potentially pay for more than half of a pre-owned model or put a huge dent in the principal if you’re more interested in financing one of our new Nissan cars. Investing in a vehicle is a good idea for obvious reasons, one such reason is that you likely need reliable transportation. And when you choose to sell or trade your vehicle later on, some of those funds come back to you – unlike leasing or renting.

Even if you’re not required to give a down payment, it’s always a good idea to provide at least 10 percent down to cut a bit off the principal of your loan. This means the initial amount you’re borrowing is lower, and you’ll be spending less on interest over time. Additionally, your monthly payment can be made lower with a down payment and the gap will be shorter.

You may recall our post about gap insurance. Essentially, this coverage comes into play when your vehicle is deemed unsalvagable due to an accident or theft. Normal insurance covers the current cost of the vehicle, but if you owe more than what it’s worth, you’re responsible for that difference. When you opt for gap insurance, it helps cover that difference.

We look forward to helping you with excellent service and professional Nissan auto financing here at Sansone Nissan. See how you can put your tax refund to use at our Nissan dealership serving Woodbridge, NJ. We can’t wait to see you soon!

Tags: Nissan auto financing, Nissan cars
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