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8015 IH 35 S., San Antonio, TX, 78224

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  • Mon - Sun12:00 AM - 12:00 AM
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  • Mon - Sat9:00 AM - 7:00 PM
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Buying a Car with Your Tax Refund

Are you hoping to use an income tax refund to get a new vehicle? Whether you are looking to buy or lease a new car, truck, or SUV, tax season is always a good time for purchasing a new ride. Many car dealerships have great income tax season deals. On average, American taxpayers can receive up to $3,000 in income tax refunds each year. This can mean smart car buyers can use this windfall as a nice initial payment towards their next car, truck, or SUV which typically provides customers with low interest rates and can even lessen monthly payments when financing.

how to use your tax return to buy a car

How to Use A Tax Return for Buying a Vehicle?

If you want to invest your refund on a new car purchase or lease, we have some excellent news for you. The average return is usually enough to cover part of the down payment. If you’re not wanting to get a new car, you could also use your tax return to pay off a part or all of your existing auto loan.

If you have questions about using your tax return to purchase a new vehicle we have some recommendations and tips from our automotive financing experts.


  • Using Your Tax Return Towards Down Payment:

  • Our financing experts recommend paying a significant deposit to help you get a car loan for your next car purchase. Even if you are opting to lease your new vehicle, having a significant down payment can help decrease your month-to-month payments. By utilizing your income tax return as a down payment, customers may qualify for better automobile financing choices.

  • Tax Return For Pre-Owned Vehicle Buying:

  • While brand-new cars have their own set of advantages, a pre-owned automobile is an economical option for budget car buyers. With a little research, it is very easy to find a great deal on a pre-owned automobile. And savvy car buyers can utilize their return as the down payment towards the purchase of that car, truck, or SUV.

  • Use Your Refund On a New Car Lease:

  • Starting an automobile lease with a bigger down payment can significantly lower how much the month-to-month payment will be. It is very beneficial even when customers want to prolong the lease because most car dealerships will typically allow the customer to extend their existing lease with a lower monthly payment on a month-to-month basis.

  • Paying Down Existing Auto Loan:

  • Using your tax refund to settle an existing car loan is also an excellent idea. Customers can use that extra money to significantly decrease the existing balance on their existing automobile financing. And they can do this either by making a few extra payments or by paying off the balance completely. Paying off or considerably lowering the remaining balance will lower the amount of interest that would have been paid with time.


Buying a Car with Your Tax Refund | Fernandez Honda

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8015 IH 35 S. • San Antonio, TX 78224

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Today's Hours:

Open Today! Sales: 9am-7pm

Open Today! Service: 7am-6pm

Open Today! Parts: 7am-6pm

Fernandez Honda 29.3476913, -98.5439394.