Is it time for a new vehicle, or at least one that’s new to you? If you’ve got a tax refund in hand, financing a pre-owned Lexus car is a smart way to use it. Here’s how to use your tax benefit toward your next pre-owned or L/Certified model from Keyes Lexus.
Monthly Payments
A classic way to spend extra cash on an auto financing plan is to put it directly towards your monthly payments. You can put all or some of your tax refund on the next monthly payment so you can focus on paying other loans or financial obligations. Or you can set aside a specific amount of refund money each month to pay a little extra at a time while still keeping some cash on hand for a rainy day.
Down Payments
You can also put your refund towards your initial down payment, or add to the money you’ve already saved. This is an excellent option for drivers who want to improve their financing rates. A higher down payment improves your chances of securing better loan terms.
Paying Down Existing Financing
On the other hand, perhaps you’re a recent customer, or your vehicle is within a few months of the end of a lease or loan term. Here, using your check to pay off your loan or pay down the principal makes sense. If you leased and your vehicle’s nearing the end of the lease term, you can use your refund toward its lease-end fees or the initiation of your next lease.
Explore Pre-Owned Lexus Car Financing Options in Van Nuys, CA
Want to learn more about pre-owned Lexus car financing or see which models are currently available? Contact Keyes Lexus today to schedule a test drive or compare financing rates.
