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Whether you bought a new car within the last year or you are hoping to buy one soon--there are some important tax benefits we think you should know about that could save you hard earned cash.
Tax Benefit #1: Buying a New Car
Tax season is officially upon us heading into April. While this can be a stressful time for many, it can also hold the opportunity of a hefty tax return that you can use towards the purchase of your next vehicle with us. Since the tax return is technically money you have already paid, you can save your hard earned cash and use the return as a down payment with us!
Tax Benefit #2: Vehicle Tax Deductions
Drivers who already purchase a car last year can also benefit from this tax season. When you bought your vehicle, you may have noticed that you paid a sales tax on it. In the event that your state and local sales taxes ended up being higher than your state income tax last year, you can claim a vehicle tax deduction. By using the online IRS sales tax tables, you can calculate the value of your deduction and simply hold on to the receipts as proof.
Next Steps?
If you're ready to move forward with buying a new car with us, we recommend browsing our new inventory for a selection of premium Volvo vehicles like the Volvo XC90 or the Volvo S60 and our pre-owned inventory for quality vehicles at a lower price point. Once you have found a car that matches your needs, use our online finance forms to begin the process from home, or set up a meeting with one of our finance experts today.
Those who would like more information on the tax deduction process should begin with available online IRS resources. If you would like more clarification, please call our team at (877) 800-9751.