It’s tax season, and many people will be expecting a substantial tax refund. Some may be getting more than usual as they submit requests for last year’s stimulus payments on their 2020 tax returns. This means that many will soon be asking, what is a good investment for the money? If you are in the market for a used but still newer truck or simply want to upgrade to a ride with all the latest technology, consider looking at the 2020 model class. This could be one of the best ways to invest your tax refund.

Unfortunately, many people have had to get rid of more expensive vehicles because of the present economic circumstances. However, this is leading to more choices for finding newer models in the used vehicle market. When you purchase a used truck that is only a year old, you are essentially buying a new model at a used vehicle price.

The 2020 models below range from crossovers to midsize work-and-play rides to heavy-duty monsters. You are sure to find one that fits your ideal of what constitutes a great truck.

2020 Ram 1500

Car and Driver has ranked the 2020 Ram 1500 as one of the 10 best pickups for last year. In their review, they state that not only is the 2020 Ram 1500 the best truck of 2020 but that it is also one of the best overall vehicles for 2020. The Ram 1500 earns these accolades with its plush interior, eye-catching bodywork and workhorse capabilities. The icing on the cake is the smooth ride provided by a coil-spring suspension that trumps every rival, and when you add the optional air springs, the ride gets even better.

The Ram 1500 offers four different engine choices: a 3.6-liter V-6 hybrid system, a 5.7-liter V-8 hybrid system, a 5.7-liter V-8 sans hybrid system and a 3.0-liter turbodiesel V-6. Each engine is available in either two- or four-wheel drive, and an eight-speed automatic transmission is standard. There are two bed length sizes available.

2020 Honda Ridgeline

The 2020 Honda Ridgeline is one cool vehicle that is a cross between a light truck and an SUV. For those who want great features from both genres, the Honda Ridgeline perfectly delivers with the added benefit of a smooth ride with nimble handling. This innovative truck has a well-built cabin that is roomy, a nice available audio system and an in-bed trunk (a trunk area that lies underneath the truck bed) for additional room and storage space.

Apple CarPlay and Android Auto are standard features of the Ridgeline, which also offers Honda Sensing safety features.

The best trucks to spend your tax refund on
2020 GMC Sierra 1500

The 2020 GMC Sierra 1500 is very similar to the Chevrolet Silverado 1500 but stands apart from this cousin because of a more premium experience provided by higher-end materials and exclusive options. These fun options include a six-position tailgate that can be a table, a tailgate extension and even a large loading step. Other available options are a carbon-fiber truck bed and a set of retractable side steps that move forward and back. The 2020 GMC Sierra features several available powertrains, a 3.0-liter turbodiesel engine choice, a nice touch-screen display and lots of handy in-bed tie-downs.

Safety features on the Sierra 1500 include lane-keep assist, forward collision alert and low-speed forward automatic braking.

2020 Chevy Colorado

There’s no beating the 2020 Chevrolet Colorado in terms of configuration choices and options. You can choose between two cab sizes, two truck-bed sizes and three engine choices of a standard four-cylinder engine, an optional V-6 and the available GM-exclusive Duramax 2.8L Turbo-Diesel. This class-exclusive diesel engine allows for a towing power of 7,700 pounds. The Chevy Colorado has a great-looking exterior.

2020 GMC Canyon

The 2020 GMC Canyon is one of the most versatile trucks in the midsize market and perfect way to put your tax refund to work. These trucks come in crew- and extended-cab versions, a 5.2-foot or 6.2-foot truck bed, two powertrain choices of a 308-horsepower V-6 engine, a diesel four-cylinder engine and a gas four-cylinder engine. The Denali trim is the top version of the Canyon and sports a stylish interior and exterior look and feel. If you are looking for an efficient and attractive midsize truck, then the Canyon may be the answer.

The best trucks to spend your tax refund on
2020 Ford F-150

The F-150 has become one of the most popular trucks out there and it’s actually reaching into all types of consumer markets. The 2020 F-150 is a true working truck that also provides lots of luxurious options and family-friendly configurations of four-door cabs and shorter beds. These trucks also come with extended cabs. There are numerous available options for engines, like the 2.7-liter Turbocharged EcoBoost V-6, the 5.0-liter TI-VCT V-8 or the 3.3-liter TI-VCT V-6. One unique feature is the fact that all of the body panels are built exclusively from aluminum.

The 2020 F-150 Raptor is the off-roading bad boy of the F-150 line of trucks. The Raptor can literally go just about anywhere you want to take it, due to possessing huge all-terrain tires, a wider body and a sturdy stance in any position. The long-travel suspension combines superb and capable off-roading without sacrificing any comfort.

The available 450-horsepower twin-turbo V-6, with the 10-speed automatic transmission, can reach 60 miles per hour in as little as 5.1 seconds. You won’t even notice any awkwardness in maneuvering tight street corners because you won’t be on tight streets anyway. You will be too busy rolling over rocky hills.

2020 Ram 2500

The 2020 Ram 2500 is the heavy-duty version of the 2020 Ram 1500. The Ram 2500 features a strong and high-density metal frame for strength and aluminum body panels that serve to reduce overall body weight. There are many desirable safety systems that come standard or as available options, and the towing and hauling capabilities are proficient. The interior is every bit as high-end as the Ram 1500, and both versions have cabins that are consistently rated as the nicest in their respective classes.

The engine choices include a 6.4-liter gasoline V-8 and a turbocharged 6.7-liter inline-six diesel, and it is available in a large variety of cab and bed configurations. If you are interested in off-roading, the Power Wagon trim offers a powerful off-road capability. As tested by Edmunds, the Ram 2500 gets a fuel economy of between 15 and 20 mpg, pretty good numbers for a truck of this size.

It can be fun to imagine and plan on what to do with a tax refund. Today’s trucks are chock-full of innovative and exciting new technologies that offer entertainment, driving assistance, and inside comforts that practically turn your ride into a vacation second home. Buying a used truck, as opposed to a new model, is always an efficient way to spend your tax refund. Due to the likely influx of more available used vehicles, consumers have more options to get a used 2020 model truck at a competitive price.