Are you shopping for a new or pre-owned Mercedes-Benz model here at Mercedes-Benz of Owings Mills? Your tax refund could be the key to making Mercedes-Benz financing a reality, and our friendly team is here to explain how to leverage your refund for financing advantages. Consider these approaches.
Boost Your Down Payment
The most obvious way to use your tax refund check is to increase your down payment on a new Mercedes-Benz model. Doing so has the advantage of lowering the total amount financed, which in turn reduces the overall cost of the car.
Reduce Your Loan Term
Instead of aiming for the lowest monthly payment with your financing plan, consider shortening your loan term. This means that you’ll pay more upfront in the form of a down payment, but you’ll save on interest payments over time.
Choose a Certified Pre-Owned Mercedes-Benz Model
Your tax refund can provide access to high-quality, Certified Pre-Owned Mercedes-Benz models. These vehicles offer the luxury and long-term reliability of a new model, and also include benefits such as roadside assistance and an extended warranty.
Use Refund for a Mercedes-Benz Lease
If you prefer to lease a new Mercedes-Benz vehicle, you can also use your down payment to reduce the cost of the lease. Use your refund check to offset the capitalized cost of the lease, which is the amount you pay upfront. Doing so will reduce your monthly payment. You can also use your extra cash to cover upfront leasing fees, such as the acquisition fee.
Use Your Tax Refund at Mercedes-Benz of Owings Mills
At Mercedes-Benz of Owings Mills, our team of finance professionals is ready to help you maximize your tax refund. Contact us today or visit our showroom to explore your Mercedes-Benz financing options.
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