If you’ve received a tax refund recently, you may consider putting it towards Honda financing. Drivers looking for a new vehicle will find several uses for their refund, and the Heritage Honda Parkville team can recommend how to spend your return. Here are some tax-time Honda financing tips straight from the financial experts.
Improving Your Down Payment
One way you can use your tax refund for Honda financing is by increasing the amount of your down payment, which is a great option if you’re planning to buy a vehicle in late spring. A higher down payment reduces your monthly payment since you’re putting more toward the loan principal at signing. If you want better rates and payment requirements, this is the option for you.
Handling Monthly Payments
Another way drivers can benefit from a positive tax return is by putting some of the money towards your monthly payments. This is great for drivers who need to put money towards other loans or costs. Depending on your tax return amount, you can spread your refund across multiple payments to reduce your financial burden over the next few months.
Paying Vehicle Fees
Fees and taxes are a significant part of every vehicle financing plan. These are typically fixed over the course of your loan, so you can plan out a way to divide your refund to pay all of those fees over a set period of time. If you want to focus more on the vehicle principal and monthly payments, this option can help you stay on track.
Get Honda Financing Tips in Parkville, MD
Want to learn more about how you can put your refund towards a Honda financing plan? Contact Heritage Honda Parkville today to schedule an appointment with our financial experts or get your application started.
