If you’ve received your tax refund this year, consider putting it toward your Mercedes-Benz financing plan. Whether you’ve recently bought a car or plan to soon, the Fields Motorcars team can show you how to put your refund toward a vehicle. Here’s how you can use your refund for financing or leasing.
Financing Payments
First, a refund can help you lower your monthly payment burden if you’re currently paying off a vehicle. You can set aside some of your refund to pay all or some of your next monthly payment, letting you focus on paying off other debts and services this month. Or you can partition your refund to reduce your next few monthly payments to get you a step ahead.
Fees and Taxes
Another thing you need to do when financing is pay taxes and fees each month. When you explore your monthly statement, you’ll know how much of your monthly payment is accrued in interest, as well as the applicable taxes and fees. Many drivers use their refunds to pay these fees so they can put their attention on the principal or buy other things.
Down Payment
Drivers who haven’t signed a financing offer yet may want to use some of their tax refunds to increase their down payment. A higher down payment improves your chances of getting better rates. It will also lower your monthly payments since you’re paying off more of the principal at signing. If you’ve received a significant refund and want to spend it soon, this is a great option.
Learn About Mercedes-Benz Financing in Lakeland, FL
Our team can show you how to spread your refund across a Mercedes-Benz financing plan. Contact Fields Motorcars to discuss financing plans and get behind the wheel for a test drive today!
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