Are you finding yourself facing a costly technician’s bill as soon as your tax refund arrives? If so, this situation can force a difficult decision here at Hall Hyundai Elizabeth City. The good news is that you can use the money from your tax refund to either boost your down payment on a new car or use it to cover repairs on your existing ride. Here is a guide to help you decide which route is best for your situation.
When It Becomes Time to Upgrade
A general rule of thumb is that if a single repair bill exceeds half of your vehicle’s current market value, it is time to upgrade. However, even if you’re spending a lot of time at our Hyundai service center for smaller, more frequent repairs, this could be a sign of trouble. Visiting the service center every few months for different issues – suspension one month, brakes the next – can cost you the equivalent of a new car payment, without building any equity. Using your tax refund to make a large down payment on a new Hyundai allows you to drive away from our showroom in a vehicle with the latest technology and safety features.
When to Schedule Hyundai Repairs
If your current Hyundai car is newer and mostly in good condition but just needs regular maintenance or a few minor repairs, that’s typically a better use of your tax refund. For example, if you’re due for scheduled maintenance such as a brake job or a fluid flush but your car is in good shape otherwise, your tax refund is a great way to pay for this maintenance.
Evaluate Your Options at Hall Hyundai Elizabeth City
Stop by our showroom to let our team take a look at your current vehicle and help you make a decision. We are ready to help you determine if your tax refund is best spent on a new Hyundai model or a service appointment. Visit us today!
