5 Ways to Use Your Tax Refund at Casey Chevrolet

Believe it or not, there’s a good side to tax season. Utilizing your tax refund to invest in a new vehicle can be a strategic decision, offering both immediate satisfaction and potential financial benefits. Casey Chevrolet provides various options that align with your financial goals, ensuring your tax refund serves you in the best possible way.

Put it Toward a Purchase or Lease

Treat yourself to an outstanding vehicle by putting your tax refund toward buying or leasing a car at Casey Chevrolet. We have a vast selection of pre-owned, Certified Pre-Owned, and new Chevrolet cars, trucks, and SUVs, plus a friendly sales team who’ll be happy to help you pick out your next set of wheels.

Pay Down Your Existing Financing Package

If you recently bought or leased a model, consider paying down that Chevrolet financing package with your refund. A lump sum payment can reduce your monthly payments for the rest of your lease or loan life.

Upgrade or Customize Using OEM Chevrolet Parts and Accessories

Make the most out of every moment behind the wheel by buying and installing genuine Chevrolet parts and accessories into your favorite mode of transportation. Here are a few ideas:

• Roof racks and rails
• Cargo boxes and nets
• Specialized grilles
• Sporty spoilers
• Floor liners and mats

The expert technicians at Casey Chevrolet can also provide and install bed parts and accessories like caps, covers, and utility protectors.

Add Some Cutting-Edge Technology

Depending on the year and model of your current model, you might be able to upgrade your technology package. Use your tax refund to buy a subscription to OnStar®, upgrade the sound system, or discuss other enhancements with your Chevrolet dealer.

Take Care of Your Vehicle With a Casey Chevrolet Service Appointment

If you’ve been putting off maintenance or repairs, tax time is a great time to check them off your to-do list. Our mechanics are specially trained in Chevrolet models, and our cutting-edge facility is equipped with virtually everything your vehicle needs. We have everything you need, from preventative maintenance like oil changes and tire rotations to more extensive repairs and bodywork.

Ways to Defray Next Year’s Taxes

Maybe you didn’t receive a tax refund, or you’re already thinking ahead to maximizing next year’s. Here are some suggestions.

Section 179 Deduction: The Section 179 tax deduction allows businesses to deduct the full purchase price of qualifying equipment and vehicles placed into service during the tax year. For 2025, businesses can deduct up to $1,250,000, with a phase-out threshold at $3,130,000. Vehicles over 6,000 lbs Gross Vehicle Weight Rating (GVWR), such as heavy work trucks and vans, may qualify for full Section 179 expensing. However, certain SUVs between 6,001 and 14,000 lbs GVWR are limited to a $31,300 deduction.

Bonus Depreciation: In addition to Section 179, businesses can take advantage of bonus depreciation, allowing them to deduct a significant percentage of the cost of eligible assets in the first year they are placed in service. This applies to both new and used vehicles, provided they meet specific criteria.

Financing Options: Financing a vehicle for business use can also offer tax advantages. Interest paid on loans for business vehicles is typically tax-deductible, reducing your taxable income for the year.

Take Your Money Farther at Casey Chevrolet

Investing your tax refund in a Casey Chevrolet vehicle enhances your business operations and offers potential tax benefits. Understanding deductions like Section 179 and exploring various financing options allows you to make a well-informed decision that aligns with your financial strategies.