TMCnet News
Consumers Could Pay Cash for More Than 13,000 Different Vehicles with the Average Tax RefundATLANTA, April 15, 2015 /PRNewswire/ -- With Tax Day on the horizon for millions of Americans, the lucky ones who receive refunds are likely debating how to best maximize their financial windfall. While the majority of consumers say they'll use the funds to pay bills or shore up their savings accounts, according to Autotrader poll data, 14 percent plan to put their refund toward the purchase of a new vehicle. According to the most recent information from the Internal Revenue Service, the current average 2014 tax refund is $2,800 – and new data reveals that amount will give car shoppers plenty of choices. Currently, there are more than 13,000 listings of vehicles for sale at or below $2,800 on Autotrader, comprised of 41 brands and 513 different models. "For those in need of basic transportation to bargain hunters to those just looking for a fun project, our research showed that consumers have a wide array of vehicles to choose from this tax season," said Autotrader Senior Analyst Michelle Krebs. Autotrader analysts found a few notable insights among the thousands of listings:
"Even if you can buy a car right when the check arrives, it's important not to skip the research phase of the process," says Autotrader Site Editor Brian Moody. "Use sites like KBB.com to make sure you're getting a fair price, cross shop cars in your area in similar condition and take the time to get a mechanic's inspection, especially when dealing with cars in this price range. True, it's just an inexpensive car, but taking the proper steps before buying can keep you from spending a lot more money in the future." About Autotrader Logo - http://photos.prnewswire.com/prnh/20150316/181852LOGO To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/consumers-could-pay-cash-for-more-than-13000-different-vehicles-with-the-average-tax-refund-300066004.html SOURCE Autotrader |