Getting a new 2023 Nissan Rogue or a new Nissan Altima might seem like a mountain you can't climb. But the reality is, you might be just a little bit short in terms of putting together the money you need to make something great happen. We're in the season of tax refunds and you might be able to use yours to bridge the gap between what you have and what you need. Here are examples of how it could work at Napoli Nissan in Milford CT.
Use your tax refund to enlarge the size of your down payment
The amount of the down payment you make on a new Nissan car loan says a lot to the people who review your loan application. In general, they like to see a down payment that's about 20% of the selling price of the car. Your federal tax refund might be just enough to get you over that hump. With a bigger down payment, lenders are more inclined to approve your loan and they might even give you a lower APR.
Honey, I shrank our car payment
About 75% of US taxpayers get a refund every year in the springtime. The amount of the average tax refund is about $3,000, but many people are more aggressive about withholding and will be getting a check for $4,000 or more in the mail. When you make a bigger down payment, you're not only reducing the size of your loan but you're also reducing the size of your monthly car payments. Congratulations to you.
Investing your tax refund in a new Nissan Rogue, Nissan Altima or Nissan Sentra means you multiply its effectiveness and help make driving fun again. Let's talk about the possibilities at Napoli Nissan in Milford CT.