Tax Max: Putting Your Tax Refund to Work
At AutoMax, we offer much more than just a safe, reliable pre-owned vehicle. We also offer a unique seasonal program that makes buying a used car at AutoMax almost irresistible! We want to get you into the car that’s right for you as quickly as possible, and to help with that, we employ a philosophy geared toward making the most of tax season and tax refunds. We call it Tax Max: maximizing your tax dollars to make your life easier.
There’s no getting around it.
No matter where you shop for a new car, you’re likely to run into a down payment situation. Saving money is difficult for most Americans, and a cash down payment is hard to come up with, especially if you’re rebuilding after a devastating financial situation. At AutoMax, we get it. That’s why we created our $89 Down Program. You can use the power of your tax refund - before it comes in - to purchase a car from our Henderson or Youngsville car lot. You drive away having only paid $89!
Your tax refund can also be used as an extra payment on your car loan. This helps reduce the remaining balance and lowers the rest of your monthly payments. It’s a smart way to use what, for many, is an unexpected windfall.
Take a look at the details of our $89 Down Program and then give us a call. Our team of financial advisors can help you determine whether you qualify and will help you figure out the best way to put your tax refund to work.
$89 Down Program
It can be challenging to save up enough cash for a down payment. Under our $89 Down Program, all you need is $89 to get back on the road. It’s as simple as that! This program is a seasonal deferred payment program that makes good use of your anticipated tax refund. In essence, you’ll drive off in the car you want for a mere $89 and pay the rest of your down payment when you get your refund. Read on to learn more.
Here’s how $89 Down works.
AutoMax uses the Tax Refund Services (TRS) tax calculator to estimate the amount of your tax refund. You pay $89 down on your new vehicle and defer up to one-third of the tax refund estimate as a future payment to pay the rest of your down payment amount. It sounds complicated, but it’s really not.
Here’s a quick example.
Jane Doe wants to buy a used car. She is approved for financing at AutoMax but needs to make a down payment of $1,000. Under the $89 Down Program, Jane pays $89 today and makes the rest of her down payment ($911) on March 15 when her tax refund comes in.
Here’s why our customers love it.
- They drive off in a new car the day they walk into our dealership.
- It’s much easier to come up with a down payment of $89 than it is a higher amount.
- The program gives customers the ability to make a larger deferred payment when they get their tax refund, thereby reducing the amount of their regular monthly payments.
- Customers who use the $89 Down Program to defer an amount over $1,000 can get their taxes prepared free of charge through Tax Refund Services (TRS) at AutoMax.
Here’s how to qualify for the $89 Down Program.
Qualifying for AutoMax’s $89 Down Program is easy. Visit either our Youngsville or Henderson dealership and bring in your most recent pay stub showing tax withholdings and year-to-date totals. If you’ve worked more than one job in a tax year, you’ll need to bring in the most recent pay stub for each employer. AutoMax will use your pay stub(s) to estimate the amount of tax refund you’ll receive. Based on that calculation, we’ll then defer the amount of your down payment (less $89), and you can pay it when you get your tax refund. The remaining balance on your deferred down payment must be paid no later than March 15.
Here are a few other details about our $89 Down Program.
- This program is for new customers only and may not be combined with any other offer.
- Customers must qualify for auto credit under standard underwriting guidelines.
- An estimated refund of greater than three times the deferred amount is required to qualify.
- Customers may be asked to pay for taxes, tags, and license fees at the time of sale.
- A $299 document fee is charged on all cars sold at AutoMax but may not be collected at the time of delivery under this program.
- The $89 Down Program is available from November 1, 2019, through January 15, 2020.
Here’s what our legal team makes us include.
- The advertised down payments and corresponding biweekly payments that are listed on vehicle display pages are meant to be used as a guide when shopping for a vehicle. This guide shows customers what the down payment and biweekly payments could be and are intended to be used when the customer is considering affordability.
- Down payments listed are with approved credit only and include sales tax, license fee, registration fee, and a $299 document fee.
- All financing is offered at 24.99% annual percentage rate (APR) regardless of the term, down payment amount, or customer’s credit score. Customers may negotiate price and term, but the APR is not negotiable.
- All pricing and details are believed to be accurate. AutoMax does not warrant or guarantee such accuracy, and we reserve the right to make corrections at any time. Call or email for complete vehicle specific information.
Want to learn more?
If you want to learn more about our $89 Down Program, call or message one of our dealerships to get started.