It is always nice when you find out that you will be getting a tax refund — the only question is how should you spend it. If you are in the market for a luxury vehicle, using it for Land Rover financing is a wise choice. Land Rover Bellevue offers these tips that will help you get the most out of it.
Start with the Down Payment
The first thing to think about when buying your vehicle is exactly how much of the refund you want to spend on it right away. A sizable down payment will help you cut costs, as you won’t have to take out as big of a loan. You should supply as much as you can for this — but aim for at least 20% of the purchase price.
Create an Affordable Payment Plan
Once you have the down payment figured out, the next step is to think about how much you want to pay every month. A good rule of thumb to follow is to not exceed 10% of your income for all vehicle-related expenses, which include fuel and maintenance, along with the payment. While it’s not technically income, your tax refund could give you more money for a bigger monthly payment, which could let you pay back the loan faster.
Begin the Land Rover Financing Process in Bellevue, WA
Extra money is always great, especially when you can use it for a fantastic vehicle. If you’re ready to buy a new or pre-owned Land Rover model, you can start the financing process now by filling out our online application. You can also come down to Land Rover Bellevue to speak to a financing professional in person, so get the ball rolling today!
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