Often in life, timing is everything. If you are in the market for a new BMW and just happen to be getting a sizable tax refund, the situation couldn’t be much better. Plus, when you add your trade-in to the mix, this offers an even bigger financial benefit. BMW of Catonsville wants to help you get the most for your money with these tips.

Value Your Trade-In

The first thing to do is to figure out how much your old vehicle is worth. Our online car trade-in value tool is based on the Edmunds True Market Value Report^®, so you know you’re getting a reputable estimate. It is important to remember, however, that we will need to examine your car to verify its mileage and condition before paying you for it.

Calculate Your Down Payment

Once you have a good idea of what you can get for your trade-in, think about how much of your tax refund you can add to it for your down payment. It’s smart to supply 20% of the total sale price, but the more you have above that number, the better off you will be down the road.

Manage Your Financing Costs

If you have a sizable amount of money to spend on your BMW model, there are things you can do to manage your expenses. We’ve already seen how increasing your down payment is a good tactic, as this can result in a smaller loan. Choosing a shorter loan term is also helpful, as this lets you pay less interest during the life of the loan. Conversely, having more money up front also opens up the possibility of upgrading to a better-equipped model but keeping payments in line with your budget.

Start the BMW Financing Process

If you are eager to find your perfect new BMW car, you don’t have to wait to get things started. BMW of Catonsville makes the financing process a snap. Just fill out our online application to get pre-approved. If you’ve decided to buy elsewhere, that’s okay, too – we’ll still buy from you!