Trading In Your Vehicle at Mercedes-Benz of Annapolis During Tax Season

There’s never a bad time to visit Mercedes-Benz of Annapolis, but some times are a bit better than others, and tax season is near the top of that list. With tax refunds rolling in, it’s a great time to finance a new vehicle. It’s also an excellent time to trade in your old one, giving you a one-two punch that gets your loan or lease off to a great start. Here are a few ways that your refund can help you during the vehicle trade-in process.

You’ll Extend Your Down Payment

The more you can put down on the day of purchase, the more money you’ll save on your new vehicle over time. When you trade in a car, the value of that vehicle goes toward the down payment, which is why it’s such a good financial choice to trade in. When you combine that trade-in value with your refund, you’ll be able to save even more on monthly payments, as well as accrued interest costs, since you’ll pay the vehicle off more quickly.

You Might Increase Your Credit Score

While your credit score doesn’t factor into your trade-in value, it’s crucial for financing. One alternative is to use your tax refund to lower your credit utilization, thereby lowering your credit score and paving the way for more favorable financing options. Lower interest rates can return considerable value over the life of the loan, making this strategy money well spent.

You Can Set Aside Money for a Rainy Day

Conversely, you may be in excellent financial shape – no debt to speak of, an excellent credit score, and plenty available for a down payment. What then? Having the combination of your refund and trade-in value at your disposal gives you flexibility for other priorities, be they your emergency fund, your retirement nest egg, or a little something extra for your next vacation.

Begin the Mercedes-Benz Trade-In Process in Annapolis, MD

No matter what your Mercedes-Benz trade-in or financing needs might be, Mercedes-Benz of Annapolis is here to help. We’ll make sure you get your vehicle’s worth during trade-in, and help you find the next great car. Call or visit to take the first step today.