Many Americans use their tax refunds to boost their savings or pay off pesky bills, but this money can also be a great down payment for new cars. Car dealerships often offer big deals, like discounts and lower interest rates on loans. They do this during tax season to sell off their extra winter inventory. This makes tax time an excellent opportunity to buy a car. Below are seven top-rated vehicles to consider when purchasing a car.
Honda & Ford
Ford F-150
Manufacturer’s Suggested Retail Price (MSRP) in 2024: $36,570
For many people living in America, owning a Ford F-Series pickup is almost inevitable. It’s a popular choice due to its powerful performance, fuel efficiency, comfort, and overall capability. These characteristics make it a favorite purchase, especially during tax season.
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Honda Civic
Manufacturer’s Suggested Retail Price (MSRP) in 2024: $23,950
The Honda Civic competes with the Toyota Corolla, but Edmunds prefers the Civic. They highlight its fast acceleration, fuel-efficient turbo engine, and a roomy back seat that comfortably fits adults.
Mazda CX-5
Manufacturer’s Suggested Retail Price (MSRP) in 2024: $29,300
A lot of cars might offer more room and towing ability, but the Mazda CX-5 is different.
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The Mazda CX-5 is easy to drive; it has excellent handles and lots of safety features. EchoPark Automotive gave a review on the cars. They said the Mazda CX-5 “feels luxurious without the high cost.”
Subaru Crosstrek
Manufacturer’s Suggested Retail Price (MSRP) in 2024: $25,195
The updated Crosstrek has improved with a better engine and transmission. It has a newer infotainment system and an optional power seat. It also has an enhanced EyeSight safety feature set.
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This feature makes the car even more attractive. According to Consumer Reports, the Subaru Crosstrek is excellent for both city driving and outdoor adventures.
Tesla Model Y
Manufacturer’s Suggested Retail Price (MSRP) in 2024: $42,990
Although the Model 3 is cheaper, the Model Y was the most popular electric car in the U.S. in 2023, according to Edmunds.
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Americans praised its fast acceleration and compatibility with Tesla’s Supercharger network. It’s also one of the few cars still eligible for a new-car tax credit of up to $7,500.
Toyota
Toyota Camry
2024 Price: $26,420
This popular sedan is often considered one of the best in its category. According to Kelley Blue Book, Camrys are “comfortable, efficient, and roomy enough for most drivers.”
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Toyota Prius
2024 Price: $27,950
If you’re not ready to go fully electric, the hybrid Prius is a budget-friendly option. It’s been named Car of the Year 2024 by MotorTrend. They call it the first hybrid that’s really fun to drive. They also say it shows a promising future where great fuel efficiency, very low emissions, and exciting performance can all come together.