If you are looking for a luxury vehicle that also has excellent off-road ability, Land Rover should be at the top of your list. And, if you recently got a nice tax refund, immediately you have money that can go towards Land Rover financing. Land Rover Jacksonville has tips that will help you best use your funds.
Start with a Strong Down Payment
Financing involves borrowing money to pay for your vehicle, so the bigger your down payment, the less you will need to borrow. Aiming to supply 20% of the purchase price is a wise idea, and your tax refund may be able to cover that. If it can do more than that, this will help you both in the short and long term.
Get Even More Money for Your Initial Payment
The more money you have on hand right away, the less you will have to pay back over time. This is why you should also consider using your current car as a trade-in. Even if it isn’t worth too much, whatever its value can help you cut your financing costs.
Consider a Shorter Loan Term
Because of the reduced loan amount due to a sizable down payment, you may want to think about going with a short loan term. While this will result in higher monthly payments, it allows you to pay back the loan faster. This will save you money, as you won’t have to pay as much accrued interest.
Get the Land Rover Financing Process Started in Jacksonville, FL
The first step in the Land Rover financing process is to get pre-approved. Land Rover Jacksonville makes this easy; just fill out our online application. Any questions or concerns? Feel free to contact us!