Christmas in April: What Will You Spend Your Tax Refund On?

We may not all be getting tax refunds this year, but according to CNN Money, the average American household will be getting $2913 back. Depending on if you’re part of the 99 Percent or the 1 Percent, that’s either a whole lot of scratch, or a dinner out with your executive buddies. It could buy you a variety of well-used cars, or an even greater variety of parts, accessories and repairs.

Searching the area classifieds, we found a variety of vehicles for $3000, including a Volkswagen Rabbit Cabriolet, a Mercury Villager minivan, a 1995 Ford Explorer, and even a 1993 Mercedes-Benz 400E. Most of them with well over 100,000 miles.

If you’re shopping for accessories, you can get a lot more for $3000. Like a decent set of (actual) wheels and tires, performance springs and shocks, a tonneau cover or shell for your truck,  and a performance intake and exhaust. Individually, all these items are generally well under $3000. But a tax time makeover consisting of two or three items may run you close to the $3k mark.

According to an eBay Motors poll, nearly one-third of Americans plan to spend their refund on an automotive-related expenditure, from maintenance and repairs, to buying a car, or wheels and tires, or cleaning and detailing.

Depending how skilled you are at navigating the byzantine U.S. tax code, or how good of a tax preparer you have, you may or may not be getting a refund this year. But if you did receive a refund close to the national average of approximately $3000, what automotive-related expenditure would you spend it on?

Source: eBay Motors, CNN Money

 

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