1. Use your tax refund as a down payment on your next BMW.
One of the most crucial components of getting an auto loan or lease is having a sizeable down payment. Using a tax return as a down payment might open some additional financing choices that might not have been possible otherwise. Also, as interest rates go up, the more you can put down on your next BMW can significantly lower your monthly payments.
2. Reduce your current BMW amount owed OR use it as several upcoming lease payments
You can either pay down the remaining sum or make one or more extra payments. Paying off the loan sooner will mean paying less interest and more to the cost of your vehicle. Over time, the amount of interest paid will be lowered by paying down the balance.
3. Repair or replace your current BMW
You may have heard the term, “upside-down” when it comes to a loan. This happens when you owe more than what you can sell your car for. That’s okay, you could use your tax return to offset some of that negative equity, or you can use it to complete some of the lingering repairs and maintenance your vehicle may need. Of course, if you are ready to upgrade, bring your car into our Macon dealership or value your trade online and get the best amount possible so you can get into a newer model.
Maybe you’re in need of new tires for your BMW. That’s a smart way to utilize your tax refund. A brand-new set of tires can significantly enhance fuel efficiency, lessen road noise, and enhance ride quality. A thorough tune-up increases fuel efficiency even more, smooths out a rough idle, and extends the lifespan of a car.
Whether you choose to use your tax refund for a new BMW, or a pre-owned BMW or simply use it for maintenance, you’ll be glad you used it to upgrade your driving experience.