How Your Tax Refund Can Supercharge Your Hyundai Financing Options

We all know that doing your taxes can suck, but a nice refund check can make it all worthwhile, especially if you are thinking about buying a new vehicle. In recent years, the average American has received a refund between $2,000 and $3,000, according to the IRS, which is more than enough to supercharge your Hyundai financing options. Learn more about the strategic moves you can make with your tax refund from our team at Blaise Alexander Hyundai of State College.

Lower Your Monthly Payment

One of the smartest things you can do with a sizeable tax refund is to apply it to your down payment. By boosting your down payment with it, you can seriously shrink your monthly payments and make your vehicle more affordable. This also means that you can potentially pay less interest over time and fully own your car sooner. But this isn’t the only benefit of using your tax refund to boost your down payment.

Strengthen Your Financing Application

The other great benefit of a large down payment is a stronger financing application because it is less risky to the lender. While a down payment is not the only thing that lenders look at, it can seriously help you with the approval process if you have a shorter credit history or other issues. It can also help you secure more favorable loan terms.

Secure Better Loan Terms or Rates

Finally, one of the best things your refund can help you do is secure better terms on your car loan. A larger down payment may help you get lower rates, shorter loan terms, or lower total financing costs, all of which allow the buyer to have greater flexibility when choosing a loan structure.

Talk to Our Hyundai Finance Team in State College, PA to Learn More

If you are interested in a new Hyundai vehicle, tax season might be the time to act by using your refund to supercharge your Hyundai financing options. Your refund may help you secure better rates, a lower monthly payment, or just financing itself. To learn more about your options, contact our team at Blaise Alexander Hyundai of State College today!

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