Using your tax refund towards the down payment of a new vehicle at our dealership in Lawton comes with several financial benefits, from lowering monthly payments to reducing out-of-pocket costs for Chickasha area car buyers. Let's discuss these benefits in more detail:
- Lower Monthly Payments: When you put a larger down payment on a vehicle, you borrow less money from the lender. As a result, your monthly payments will be lower, and you'll have more financial flexibility.
- Reduced Interest Costs: A larger down payment can also help you save on interest costs over the life of the loan. By borrowing less money, you'll pay less interest overall, saving you a significant amount of money in the long run.
- Reduce or Eliminate Out-of-Pocket Costs: With a larger down payment, you can reduce the amount you need to finance, which can help you avoid the need for additional fees or expenses like gap insurance. This can help you save money and reduce the cost of your vehicle purchase or eliminate extra costs.
- Pay Down Your Loan or Buy Out Your Lease: If you have an existing auto loan, using your tax refund to pay down the principal will; reduce the amount of interest you'll pay over the life of the loan. This also allows you to pay off the loan more quickly. Alternatively, you can get your tax refund to buy out the lease to own it outright and avoid additional fees or penalties associated with breaking a lease early or exceeding the allowed mileage.
Start Shopping from Home
Browse our new inventory online or call us to chat with one of our helpful sales team members, who are ready to answer your questions and help you grab the wheel for a test drive through Oklahoma City.
You can explore your purchase options from home using the online shopping tools through our finance center or get help from one of our finance experts when you visit the showroom near Norman.