It’s hardly surprising that Americans use their tax refunds for down payments on vehicles. Increasingly, some technology service providers are making it an easier prospect. Tax Refund Services, or Tax Max, provides a compelling service for auto dealers. Beginning every October, Tax Max makes available its 4th Quarter Sales Program, which allows car dealers to calculate a customer’s approximate 2019 tax refund before their W-2s and 1099s arrive in early 2020. With this estimate, customers and the dealer can determine how large the customer’s tax return will be to negotiate it into a future down payment.
Last week, Tax Max announced it’s partnering with the Buy-Here, Pay-Here Center on Autotrader. The collaboration with Autotrader is expected to introduce new value-added package options to Tax Max’s offerings that will enhance dealers’ online presence and their ability to increase sales by adding an additional tax refund filter on top of the existing inventory platform, creating more value at no additional cost per lead to the dealer. It may also provide an opportunity for dealers to distinguish their dealership and inventory from the competition and offering them a compelling marketing and advertising prospect.
The Buy Here Pay Here Center on Autotrader is a marketplace where shoppers can connect with local car dealers who approve their own vehicle financing, providing a pathway for customers with less-than-perfect credit to purchase a vehicle. With the two services combined, dealers will be able to list their payment-focused inventory, a customizable dealer page that geo-targets online shoppers in the area, a local market dealer dashboard, and a toll-free number. Combined, the new offerings connect dealers and credit-challenged consumers who are ready to buy, ultimately generating additional leads for dealers.
“Tax Max and the Buy Here Pay Here Center on Autotrader teams up two established and trusted brands for the credit-challenged automotive community,” said William J Neylan III, president and CEO of Tax Refund Services Tax Max, in a statement. “We understand that many buy-here-pay-here dealers are having difficulty increasing foot traffic and getting the down payment necessary to get the deal structure in line to what makes a consumer successful. This will help solve this pressing issue by helping to make dealers more efficient, effective and profitable. Most importantly, this will help credit-challenged consumers become more successful in their vehicle purchase.”