Maximize Your Tax Refund
When Buying a New or Used Car

Let the Team at Pollard Auto Group Show You How to Maximize Your Tax Refund by Buying or Leasing a New Vehicle

Have you filed your tax return? Are you wondering what you should do with your tax refund? According to the IRS, the average American receives a tax refund in the neighborhood of $3,000. It is money that you probably aren't counting on, so that means that it is free to spend in any manner you wish. Many folks choose to use their tax refund for a major purchase, like a car. If you are thinking of using your tax refund toward a new vehicle, get  pre-approved at Pollard Auto Group, located at 3301 South Loop 289 in Lubbock TX, has some tips to help you make your tax refund go further.

Use Your Tax Refund Toward the Lease of a New Ford Model

When you get your tax refund, an option you will have is to use it toward the lease of a new Ford car, truck, or SUV. You may be wondering what kind of advantages it might afford you to put a down payment on a Ford lease agreement. The team at Pollard Auto Group has the answer to that question.

The biggest reason to put money down on a Ford lease agreement is to reduce your monthly payment. We know that many folks who are interested in leasing their new Ford model are very conscious about the monthly payment. They like the idea of getting behind the wheel of a new Ford vehicle with a lower cost than they would have if they were taking out an auto loan for the same length of time. Using some of your tax refund toward your next lease will lower your monthly payment to a spot where it is affordable to you.

You might also be able to use your tax refund as a down payment in an attempt to extend your lease agreement. If you are interested in extending your lease, you should contact the finance team at Pollard Auto Group to get more information.

Make a Huge Payment on Your Current Car Loan

Do you currently have a car loan? Some folks use their tax refund to make a lump sum payment on their current auto loan. Going with this strategy can help you pay off your debt in a quicker fashion. When you make a lump sum payment, you have the opportunity to reduce the principal balance faster, which means that you will pay less in finance charges over time. In short, the auto loan will cost you less over time.

It is possible that the financial institution you have your financing with might have a prepayment penalty, so you should contact them before you make a payment to ensure that this is the right move for you financially.

Use Your Tax Refund to Refinance an Existing Auto Loan

We know that there are some folks out there who have an auto loan that has unfavorable terms. In some cases, it is because they had a lower credit score when they got approved, so they got a higher interest rate from the bank or credit union. The good news is that you don't have to be stuck with that monthly payment for the entire term. You can refinance your car loan and use your tax refund to help.

If your credit score has improved because of on-time payments, you might be eligible for better terms. This means that you could enjoy a lower monthly payment. By using your tax refund as a down payment, you can reduce your monthly payment even further and make your application look better.

Our finance professionals can help you with the process of refinancing your current car loan, as well as using your tax refund to help with the process. Feel free to contact them with any questions you might have about starting your refinancing application.

Pollard Auto Group is Here to Help

The finance center at Pollard Auto Group is here to help you with all of your auto financing needs. We are the experts when it comes to assisting you with maximizing what your tax refund can do for your financing goals. Our dealership also has many other ways that we can assist you with your auto loan or lease:

  • Pollard Auto Group has a payment calculator to help you determine whether a vehicle is in your budget
  • We have an online trade-in form to help you discover what your current vehicle is worth
  • Our team has experts on staff that have many years of experience in the realm of auto finance, so you can count on getting all of your questions answered

Reach out to the knowledgeable Pollard Auto Group team so we can help you make the most of your tax refund!

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  1. Pollard Auto Group

    3301 South Loop 289
    Lubbock, TX 79423

    • Sales: (833) 476-5581
  2. Certified Used Cars by Pollard

    3301 S Loop 289
    Lubbock, TX 79423

    • Sales: (866) 216-8971
  3. Pollard Friendly Ford Co

    3301 South Loop 289
    Lubbock, TX 79423

    • Sales: (806) 797-3441
  4. Pollard Friendly Ford Co

    3301 S Loop 289
    Lubbock, TX 79423

    • Sales: (806) 797-3441
  5. Pollard Pre-Owned

    6530 Frankford Ave
    Lubbock, TX 79424

    • Sales: (866) 237-8878
  6. Pollard Used Cars

    4101 Avenue Q
    Lubbock, TX 79412

    • Sales: (866) 239-3735
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