Bernie is meticulous with paying bills on time and sending in tax returns long before they are due. Over the years, he occasionally gets tax refunds during the tax season.
However, this year’s refund was a windfall. A friend suggested that Bernie make a down payment on a car to aid his family’s mobility.
When Is the Right Time to Buy a Car?
Bernie happens to be a financial conservative and seldom makes any purchase without having spelled out the reason for making the decision.
However, his friend, who owns a car dealership, helped Bernie realise that this was the best season to buy a car. The refund could have gone into a savings account, paying off some bills, but Bernie eventually conferred with his wife and agreed to check out the available car deals.
Need a Car? Buy One
This tax season coincides with the period when most car dealerships choose to offload their winter surpluses.
For this reason, the season tends to come with multiple juicy offers from dealerships, which makes it a perfect cost-effective time to buy that car you have been longing to get.
Exquisite Car Deals
Some dealerships would beat down the interest rate on their car loans, while some offer substantial rebates on the car price.
Judging by these monumental and seasonal car deals, it is easy to understand why we think tax season is the smart time to buy that family car. We have gone a step further to spotlight seven hot deals from which to make your pick.
Ford F-150
This F-series pickup would be perfect for individuals and families who look off road experiences, have a hands-on job like construction, or need an added space for grocery shopping.
Judging by the 2024 Manufacturer’s Suggested Retail Price (MSRP) of an F-150, which is $36,570, a few tax return purchases will match the value you are getting for your money.
Honda Civic
Toyota Corolla is a car model breathing hard down the neck of the Honda Civic for market share.
However, judging by the performance of those two cars, Edmunds recommends that buyers opt for the Honda Civic. According to their analysis, the Civic has multiple merits like “rapid acceleration, fuel-efficient turbocharged engine and spacious, adult-friendly rear seat.” Also, its price oscillates around $23,950.
Mazda CX-5
Indeed, some other brands do way better in terms of towing capacity and cargo space. However, if you are working with a budget and want quality for that sum, go for Mazda CX-5.
Besides its multiple safety features, EchoPark Automotive has given the Mazda CX-5 design its stamp of approval. Its luxurious aura with a disproportionate MSRP of $29,300 qualifies this car for our list.
Subaru Crosstrek
Since its first unveiling, the Subaru Crosstrek has undergone a couple of design reiterations.
The Eyesight suite and other improved safety features, an optional power seat, an advanced infotainment system, and revolutionary improvements to the car engine and suspension are some of the upgrades the car has received. So, for a $25,125 MSRP, you are getting the best value for that sum.
Tesla Model Y
Its Tesla Model 3 sibling costs less, but the Y comes with multiple operational merits that make it worth every cent you part with to get one.
Edmunds gives the Tesla Y a thumbs up for its Supercharger compatibility and dynamic acceleration system. As an added plus, the Y remains one of the few cars that still enjoys the new-car tax credit, and that can be as high as $7,500.
Toyota Camry
The Camry is one of the top-grossing models in Toyota’s inventory, and the reason for that is not farfetched. The Camry has proven itself to be one of the best in its category.
Its MSRP is $26,420. Interestingly, Kelly Blue Book said of Camry that they are “comfortable, efficient and remain spacious enough to suit most of the driving population.”
Toyota Prius
Do you know Toyota has started making hybrid vehicles? If you don’t then get ready to be whao-ed by the Toyota Prius.
It is fuel efficient, and you can do without fuel altogether. In addition, the Prius is affordable, going for an MSRP of $27,950. Toyota Prius nabbed the MotorTrend’s Car of the Year award. The Prius is an amalgam of performance and sustainability.
Made Your Pick?
The seven cars listed above may cost way above the quoted prices after the tax season glides by.
So, if getting a car is a necessity for you or your family, then we recommend checking how much of the down payment you can Source from your tax refund. Next, take that leap and start enjoying the many leverages that a new car affords.