The only problem with getting a tax refund is figuring out how to spend it. If you need a new car, however, buying a Mercedes-Benz model is an easy choice. Mercedes-Benz of Orange Park has tips to help you maximize your refund for Mercedes-Benz financing.
Don’t Focus on the Total Price
When shopping for a vehicle, it can be easy to get stuck on the price tag. But, when you finance, you pay off the car over time, so that big number will end up being a series of smaller numbers. The important sums to pay attention to are the down payment and monthly payment.
How Much Do You Want to Put Down?
Your tax refund could supply you with a good down payment for your vehicle. You should aim to contribute at least 20% of the sale price, but if you can go higher do it. Not only will a bigger down payment result in a smaller loan, but it may also get you a lower interest rate.
Calculating Your Monthly Payment
Once you have your down payment figured out, you can determine your monthly payment. It’s a wise idea not to exceed 10% of your income. This should encompass all expenses related to your car; along with the payment, this includes things like fuel, maintenance, and insurance.
Start the Mercedes-Benz Financing Process in Jacksonville, FL
Once you get your check from Uncle Sam, it’s time to find your perfect Mercedes-Benz model. Mercedes-Benz of Orange Park makes this simple, as we always have a big stock of new and pre-owned models. Plus, we make the financing process easy, and you can start it now by filling out our online application!
