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Buying a Car with Your Tax Returns? Don’t Make this One Mistake

by Admin - Posted 1 month ago

For many of us, tax return season is like an oasis in the middle of the desert. A big check that shows up just in the nick of time, right as we’re recovering from all the holiday shopping and trying to imagine how we’re going to afford the things we need this coming year. And for people without a vehicle, or maybe driving an old car that could die any day, a big tax return is especially handy. But before you get that check and head off on a car buying rampage, it’s important not to make the same mistake that so many car shoppers have made in the past.


Avoid the temptations of private sales


To save money on the price of a vehicle, but also fit their taste in cars, many people will turn to private sales. Maybe it’s a car you see listed “for sale by owner” online, or maybe it’s your neighbor selling their ride for a good price. So you go and take a look. Sure, it’s got almost 200k miles on it, but it’s a hot ride. And for that price, you can cover it with your tax return.


The purchase price is just the start


Unless it’s your first time buying a car, you probably know that paying for the actual vehicle is just the first of a number of expenses you’ll have to cover when owning a car. Cars need gas, vehicle registration, insurance and regular maintenance just to stay on the road. That’s easily hundreds of dollars a month, depending on how much you drive. But if your car breaks down and requires major repairs, it could cost you just as much as the price you paid for the car itself.  


When you purchase a vehicle from a private sale, it might save you a couple of bucks on the cost. But without a warranty, if the car breaks down then you’re on the hook for the repair bill. And if you spent all your tax return buying the car, then you’re back in the same spot, waiting for the bus.


A better option


At Cincinnati Auto Credit, every vehicle comes with a 12-month/ 15,000-mile limited warranty. That means that you’ll be covered in the event of a mechanical issue that pops up in the first year or 15,000 miles after you drive off the lot. And we back each warranty ourselves, which means no dealing with faceless third-party companies. Just come right back to where you bought your car, and we’ll take care you.


When it’s all said and done, buying your vehicle at Cincinnati Auto Credit just makes more sense. As always, we invite you to stop by either of our locations, and give us a chance to give you a chance!