Archive for February, 2019
Many will argue that new cars are more reliable, come with great warranties, and have updated tech and safety features. Others will say that if you buy used the purchase price won’t be nearly as expensive.
But, what about used trucks? While there are upsides and downsides to buying a used truck, there are three main reasons why buying a used truck is better than buying a new one. Continue reading to learn what they are!
Trucks are expensive, many of them have a starting MSRP of around $40,000 if you’re looking for a full-size version. This is not the case with a used truck, though. A used model is significantly cheaper, thanks to depreciation!
A More Durable Design
Reliability and durability are two different things, and with some of the trucks today, durability has gone downhill.
For example, a new F-150 is made mostly with aluminum. The frame isn’t, but most of the body is. This not only compromises the truck’s integrity, but it also compromises its safety.
But a used, older F-150? Those were made of steel.
Used Doesn’t Mean Old
Just because you buy used, doesn’t mean you’re purchasing an old vehicle! For instance, here at Drive Casa, we have used trucks and vehicles that are only a couple years old!
It’s tax return time! For some, that may mean paying down credit cards, while for others, it means putting it towards savings. No matter what you choose, you will want to ensure you’ve considered your options before making a final decision. Here’s a look at four ways to use your tax return!
1: Pay Off Your Debt
Having high-interest credit cards or loans can prohibit you from saving for the future. Using a tax return to pay down your debt may help you get caught up, according to Forbes. However, be sure to focus on loans bearing the highest interest rate — if you are currently on track with your payments, and the loan has a low interest rate, it may make more sense to allocate the money elsewhere.
2: Save For A Rainy Day
Even if you already have funds in a savings account, will it be enough if an emergency arises? You should have an emergency fund equal to at least three months’ worth of expenses saved, just in case, says The Balance. If you find that you’re behind on savings, consider depositing your tax return into your savings account.
3: Save For Your Child’s Future
Another way to put your tax refund to work is to start saving for your child’s education, or even your own. A 529 savings plan may be a good place to start, says U.S. News. You will have a few different options to consider, as you can typically choose between a a prepaid tuition plan or an education savings plan, according to the U.S. Securities and Exchange Commission — and both plans may offer you some tax benefits.
4: Invest In a Vehicle
If you need a new vehicle, it may be smart for you to use your tax return money as a down payment. This will lower the monthly payments of the vehicle significantly. It would also save you more money to purchases a gently used vehicle rather than buying a new one. Here at Drive Casa, we have a wide selection of great quality cars! To browse them, please visit our website.
Choosing how to spend your tax refund can be an important part of planning for your financial future. By considering and researching your options, you can choose how to put your refund to use in ways that work best for your lifestyle! How do you plan on using your tax refund? Tell us in the comments below!