How to Buy a Car During Tax Season

Car buying during tax season is common, and for good reason! From dealership sales to tax returns, there are tons of great opportunities to stretch your dollar. But, what’s the best way to buy a car during tax season? Find out with Kiefer Kia, and feel free to schedule a test drive with us in Eugene.

Why to Buy a Car During Tax Season

Car buying during tax season offers tons of unique benefits. Here are some reasons you should consider a springtime upgrade:

• Sales: Many dealerships buy new inventory during the winter months in anticipation of the holiday season, and by the springtime, they want to unload that surplus to make room for new models. That means more options for you at a better price.
• Interest: Interest rates are often lower during the tax season to the tune of 1-2%. This can make a huge difference in the amount you spend over your loan period.
• Tax Return: A sizable tax return might be just the budget boost that you need to get into a better car. And because of tax season sales, your tax return can stretch even further!

How Should I Use My Tax Return When Buying a Car?

Let’s say you lucked out and got a great tax return this season. What’s the best way to utilize your tax return when you buy a car during tax season? For many Springfield and Salem, a tax return makes the perfect down payment. Plus, a larger down payment allows you to make smaller monthly payments moving forward.

Is a Car Tax Deductible?

There are a surprising number of potential tax-deductible benefits when you buy a car.

• Car Sales Tax: Many states allow you to deduct car sales tax, listed as TT&L (tax, title and licensing) fees on your purchase order.
• Property Taxes: In addition to car sales tax, some states also allow you to deduct personal property taxes on vehicles.
• Business Vehicles: Vehicles used for business purposes are also subject to tax-deductible benefits of their own, including operating expenses and fees.

Find Out More with Kiefer Kia

Want to buy a car during tax season with Kiefer Kia? Contact us with any questions or just stop by Eugene. Whether you want to know more about tax-deductible benefits in Corvallis or the latest new models, our team is happy to help.