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9240 S Memorial Dr., Tulsa, OK, 74133

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  • Mon - Sun12:00 AM - 12:00 AM
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  • Mon - Sat9:00 AM - 9:00 PM
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How to Buy a Vehicle with An Income Tax Refund

Are you thinking about using your tax refund to get a new car? Whether you are looking to purchase or lease a brand-new car, tax season is always a perfect time for upgrading your ride. Many dealers provide great income tax season offers. Typically, American taxpayers can receive up to $3,000 in tax refunds every year. This can mean smart car buyers can leverage this money as a substantial initial payment towards a new car or truck which generally gives customers with low interest rates and can even reduce regular monthly payments when financing.

how to use your tax return to buy a car

How to Buy a Car with Your Income Tax Refund

If you want to spend your return on a new automobile purchase or lease, we have some good news for you. The typical refund is typically enough to cover a big part of the down payment. If you’re not looking to get a brand-new vehicle, you could also use your refund to pay off a part or all of your existing car loan.

If you have questions about how to use your income tax refund to purchase a new car, truck, or SUV we have some recommendations and ideas from our automotive financing professionals.


  • Using Your Tax Return For a Down Payment:

  • Our financing experts suggest paying a significant down payment to help you get automotive financing for your next vehicle purchase. Even if you are choosing to lease your new vehicle, having a significant down payment can help decrease your month-to-month payments. By utilizing your income tax refund as a down payment, purchasers may get better auto funding choices.

  • Tax Returns For Pre-Owned Car Purchase:

  • While brand-new cars have their own set of advantages, a pre-owned vehicle is a cost-effective choice for many budget car shoppers. With a little research, it is easy to discover a good deal on a pre-owned automobile. And savvy buyers can use their refund as the deposit towards the purchase of that car, truck, or SUV.

  • Use the Cash Towards a New Car Lease:

  • Starting an automobile lease with a larger down payment could considerably lower how much the month-to-month payment will be. It is extremely beneficial also when customers wish to prolong the lease since most car dealerships will typically permit the customer to continue their present lease with a reduced monthly payment on a month-to-month basis.

  • Paying Down a Current Loan:

  • Using your return to pay off an existing automobile loan is an outstanding idea. Customers can make use of that extra money to substantially lower the existing balance on their existing car loan. And they can do this either by making a couple of extra payments or by paying off the balance completely. Paying off or considerably reducing the remaining balance will reduce the amount of interest that would have been paid over time.


How to Buy a Vehicle with An Income Tax Refund | South Pointe Chrysler Jeep Dodge Ram

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9240 S Memorial Dr. • Tulsa, OK 74133

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Today's Hours:

Open Today! Sales: 9am-9pm

Open Today! Service: 7am-7pm

Open Today! Parts: 7am-7pm

South Pointe Chrysler Dodge Jeep Ram 36.0286658, -95.887835.