What To Do With Your Tax Refund?

Invest Your 2018 Tax Refund in A New or Used Lexus at Lexus of Las Vegas

It’s that time of the year again when you start looking forward to your tax refund! What better way to invest that money than in the purchase of a new car or quality used car from your premier luxury authority – Lexus of Las Vegas! A third of Americans spend their refund on an auto-related purchase. With a number of new 2018 vehicles on our lot, we’d like to see that your dollars go further. We’ll work to put you in the vehicle you deserve and a price you can afford! View our 2018 vehicles online or, if you’d rather, to stop by our dealership on Sahara today for a test drive when you’re considering purchasing or leasing a 2018 Lexus vehicle in the Vegas valley. Put those refund dollars to good use this year and get the Lexus you’ve always wanted from Lexus of Las Vegas!

There are many ways to spend your refund, but here are just the most popular ones.

1. Use Your Tax Refund for A Down Payment on A New Car or SUV

This is one of the most popular ways to spend your tax refund. If you’re like many Americans with shaky or bad credit, tax season is a great time to lay down a substantial down payment. This will also open up car financing options that would otherwise not be available. A substantial down payment will show the dealership that you’re a serious car buyer and can also help you get a loan with lower monthly payments, which makes buying a car even more financially feasible.

2. Get Repairs or Upgrades on Your Current Car

Whether it’s a new set of tires to improve fuel economy or a much-needed tune-up, a well-maintained car can last well past 100,000 miles. Routine maintenance and the occasional upgrade might not be as thrilling as driving off the lot in a new car, but it’s a great way to stretch a dollar…and the life of your car. Schedule a service appointment to get your car looked at right now.

3. Save Money: Buy a Used Car

A quality used car from Lexus of Las Vegas is a great option when you’re looking to own a luxury vehicle but don’t want to spend too much money. Used cars used to have a bad reputation, but lately, that’s no longer the case, especially at a respectable dealership like Lexus of Las Vegas. Don’t let the miles on the odometer fool you. Those miles prove that with proper care and maintenance a used car can also be a reliable car. Often high-mileage cars probably have mostly highway miles, and those miles put less wear and tear on a car. It’s unlikely that a used car will still be under warranty, so it’s important to make sure you buy your used car or SUV from a trusted dealer, like Lexus of Las Vegas. That way you can rest assured that you’re getting a car with a great price/quality ratio, and one that will last for years to come. Check out our fantastic selection of used inventory, and give us a call at (702) 945-0498 or contact us if you see something you like!

4. Lease a Car in Las Vegas

The general rule of thumb on car leases is that if you put down a larger down payment, your monthly payments will be a lot lower. With a larger down payment, your lease payments are more manageable, so if you do decide to extend your lease, you can negotiate to keep the same low payments.

5. Pay Down Your Existing Loan

Having the ability to put down a big payment on an existing car loan can help you get one step closer to becoming debt-free. You can either make an extra payment, which will help you pay off the loan quicker, or pay down the balance, which will reduce your interest over time. It’s also a good idea to call your lender to see what they think is the best thing to do in your particular circumstances.

6. Refinance Your Car Loan

Did you know you can sometimes restructure an existing car loan? If your car loan has a high-interest rate or you’ve improved your credit score since getting the loan, you could use your tax refund as leverage to structure a better loan with lower monthly payments. You can even use a portion of your tax refund to reduce the principal and get a better interest rate on the balance, saving you money in the long run.

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