Editor’s Note: First published in January 2020 and updated in December 2023; this blog was refreshed again in October 2025 with new details and helpful updates for our customers.
In this article, you’ll learn:
- How to make your tax refund work for you, whether you’re buying your next car, catching up on payments, or planning for maintenance
- How Car-Mart can help you create a personalized plan that fits your budget and long-term financial goals
- Tips to build credit and save money
Tax Season is almost here and if you’re expecting a refund, it’s a great time to get ahead of the game.
The Internal Revenue Service reports that an average tax refund is $2,700 – $3,000, providing consumers an excellent opportunity to save time and money on their personal vehicles. If you’re a new or current customer at America’s Car-Mart, you can utilize your tax refund to make larger down payments or shorten the terms of a current note.
When you’re filing taxes, think long-term
Don’t think about the big screen TV and don’t impulse buy. New customers should really consider larger down payments to save on the overall cost of their vehicle. Current customers can work with our dealerships to shorten their term length, lower their regular payments, or handle mechanical concerns.
Tax refunds are a great opportunity for us to partner with you and create a solid plan based on your needs.
Develop a plan for your tax refund – America’s Car-Mart can help
Whether you’re an existing customer, or in the market for a new vehicle, visit your local Car-Mart dealership before you receive your refund. Associates are also available to assist you with your filing.
Each dealership is ready to work with you to develop a solid plan for your tax refunds that will benefit you long-term. America’s Car-Mart partners with TaxMax in preparing and processing tax returns for customers.
Customers can bring in their last paystub or their W-2 and create a personalized plan, whether they’ve already filed or not.
Having a plan helps customers alleviate the anxiety and stress associated with vehicle purchases. Each deal is structured based on individual customer needs.
Existing customers – Modify your current payment plan
If you’re currently behind on a car payment or find yourself running short in your budget each month, tax refunds are a chance to get caught up or adjust your terms.
When a customer finds that they’re consistently overextended in their budget, using their tax refund to restructure their current note for lower payments on the same terms can make a significant impact. Customers who are comfortable with their current payment amount can use their refunds to shorten their total number of payments and save a considerable amount of interest charges.
Maintenance and repairs are another area customers should consider when seeking refunds. Existing customers also need to consider the vehicle’s mechanics. Setting aside a refund for new tires or general maintenance is an investment in the vehicle’s equity. Again, keeping the end in mind, a customer should have a safe and reliable vehicle for their daily needs and that retains value for a future trade-in.
New Customers – Save money
Using your tax refund as a down payment on a new purchase allows Car-Mart to better structure payment terms that work for each customer’s individual situation.
Simply put, the larger the down payment, the smaller the amount financed. This can mean lower payments or a shorter term, both of which save our customers money and set them up for successfully completing their contracts. That starts with quality vehicles and then structuring deals that can be consistently paid on time.
All Customers – Build your credit score
Credit reporting shows potential lenders what kind of borrower you tend to be. Positive credit reporting can help you with lower interest rates or better chances of credit approvals.
Car-Mart reports to multiple credit bureaus, helping our customers build a credit history. New and existing customers can leverage their tax refunds to improve their contract terms and create positive credit reporting, improving their access to future financing. Customers who partner with their local dealerships to make timely and consistent payments can watch their credit score rise significantly.
Your success is key – Partner with America’s Car-Mart
Finding a financial solution for your vehicle needs shouldn’t be something you try to navigate on your own. America’s Car-Mart takes a unique approach to finding solutions that adjust with their customers when life changes occur.
Tax season may be a dreaded time of year for some, but with a bit of change in perspective, there’s an opportunity to take advantage of those refund dollars and keep your money working for you.
If you need a new vehicle, you can use your tax refund as a down payment.
This will give you peace of mind and help you get the car you need. Come to America’s Car-Mart, and we’ll be happy to assist you in finding the perfect vehicle for your needs.
Financing Made Simple at America’s Car-Mart
Getting financed at Car-Mart is stress-free and straightforward. Start by getting pre-qualified online with no credit hit, then gather your income and identification documents. From there, you can choose a vehicle that fits your budget, take a test drive, and drive away with confidence.
Take Control of Your Tax Refund
Get pre-qualified* today — with no hit to your credit — and drive your dream car.
*Get pre-qualified, which is a soft credit inquiry only, with no impact to your credit score. A hard credit inquiry that may affect your credit score will be required for the purchase of a vehicle. Pre-qualification does not guarantee loan approval or specific terms.
