Tax season is near, and for many people, that means a refund is on its way. Some people like to save it for later, pay down existing debt, or spend it on something nice for themselves or their families. A used car is a wise way to spend your tax refund, maybe you need a more fuel-efficient vehicle for your commute or a rugged all-terrain vehicle for the weekends at the cabin or maybe you just need more space for the kids and their stuff. Whatever the reason, tax time is the perfect season for a used car.
A car is one of the best places to invest your tax refund because having a reliable vehicle is essential to most people’s lives. And when you pay down a portion of your vehicle up front, you’ll notice the benefits right away, and every time you pay the monthly installment on your loan. Not only will you start out with a lower loan amount, but you’ll also pay less in interest because you’re starting out with a smaller principal amount. Plus, the total amount that you have to pay on your loan each month will be smaller.
You can skip the dealership and still find the perfect vehicle to suit your needs by shopping at Carvana. There are thousands of used vehicles in stock from a wide range of brands in many models, and these are some of the fuel-efficient ones that you should consider.
If you’re looking for a luxury vehicle, you might consider getting an Audi. The A4 is a small sedan with a turbocharged engine that helps the car accelerate quickly. It also has a spacious backseat that even adults can comfortably fit into. Plus, it has a 40/20/40 split seating design that folds down so that you can fit larger objects into the trunk and back seat.
The A4 also has an adaptive cruise control system that adjusts the cruise control to what is happening with the traffic around you. This entire system lets you reap the benefits of maintaining your desired speed without having to worry about whether or not you’ll run into the car in front of you. And with an estimated 27 mpg in the city and 35 mpg on the highway, the Audi A4 gets great gas mileage.
If you love American-made cars, the Chevy Sonic could be right up your alley. This sedan offers a spacious cabin for the sedan class of vehicles. Plus, an infotainment center with full capabilities for smartphone integration comes standard. The 2020 model also comes with a built-in hotspot for easy access to movies for the backseat passengers and music to keep everyone entertained throughout the trip.
The engine offers 138 horsepower, and 148 pounds of torque provides plenty of get-up-and-go because the vehicle is small enough that it doesn’t need a huge engine. Plus, the Chevy Sonic has certain technological features, such as Apple CarPlay and Android Auto connectivity, that come standard. You’ll love that the Chevy Sonic also gets 34 mpg on the highway and 26 mpg in the city.
Mazda MX-5 Miata
If you’re looking for a cute little sports car that has a convertible top, take a look at the Mazda MX-5 Miata. This peppy little vehicle is reasonably priced for a sports car, often coming up in the range of $15,000 to $18,000. It has a manual soft-top that’s easy to lower and raise. Another advantage to a soft-top is that any potential fixes are more simple and less expensive than they would be if you got a hard-top convertible.
You can even get a MX-5 Miata in manual transmission so that you have full control over the handling. The MX-5 Miata is fun to drive because the vehicle is so small and light that it can get up to speed quickly. At 35 mpg on the highway and 26 mpg for the city, it also gets great gas mileage.
The Kia brand is known for making reasonably reliable vehicles and selling them for very affordable prices. That’s why a Sportage might be exactly what you’re looking for if you’re trying to find a way to stretch your tax refund. The Sportage comes in one of four trim levels, so you’ll have some options to look through when looking at interior colors and materials. And it provides a quiet ride even at high speeds.
The more recent models offer a lot of tech features that consumers are finding more and more difficult to pass up. For instance, smartphone integration and charging options come standard. This model also still does well in terms of gas mileage, offering up to 28 mpg on the highway.
You might also decide that you want one of the most iconic brands of SUVs on the market. You’ll be inspired to take a drive in the country since the Renegade is so well-suited to rugged terrain. This SUV has the classic Jeep look that many people love, and it comes in one of four trim levels, so you have plenty of options for interior colors and materials.
The Renegade also provides agile handling during turns, which is great for an SUV. While it’s possible to find vehicles that get better gas mileage, the Renegade still does quite well for an SUV, offering 32 mpg on the highway and 24 mpg for city driving. This is likely due to the Renegade’s compact size.
Lexus IS 300
Some people want a Lexus because this luxury brand is known for providing a comfortable and quiet riding experience in a vehicle that offers premium interior features, such as leather seating. It’s especially known for providing a smooth and quiet ride on bumpy roads. The IS 300 has continually kept up with the changes in technology. For instance, it offers a quality infotainment system and the option for a driver navigation system.
The IS 300 offers a small design, which means that you can drive farther on less gas. In fact, it gets about 30 mpg on the highway.
If you like a mid-size sedan that offers the power of a turbocharged engine, the Subaru Legacy is right up your alley. This vehicle offers all-wheel drive for a safe driving experience in wet conditions. Plus, on the newer models, active driver-assist features come standard. The Legacy also comes in one of six trim levels, so you’ll have several options for interior materials.
All Legacy vehicles feature a continuously variable transmission, which makes the vehicle more fuel-efficient and provides a smoother ride. You’ll get both power and fuel efficiency with an average of 35 mpg on the highway.
Using your tax refund towards a new car is a great way to invest your money. You can find great deals for fuel-efficient cars at Carvana. Whether you want a small car or a small sedan, there are plenty of vehicles on the market that will give you great gas mileage.