How Would You Use Your Tax Refund?
How Would You Use Your Tax Refund? | CarMaxMarch 2016

Wondering how to spend your next tax refund? If you’re expecting to get a refund, you’ve probably got some ideas. 

We asked consumers how they planned to spend their refunds. Just over two-thirds of respondents were expecting a refund; of those, 26 percent said they planned to save them. One-quarter of respondents planned to pay back debt.

Among those expecting a refund, 17 percent considered themselves likely to use the money to shop for a car.

If you consider yourself among this last group, here are some key tips on how to shop for a used car like the Honda Civic or Nissan Altima during tax season:

  1. Do your research: Start your search online by exploring pictures, reviews, and financing terms before you test drive.
  2. Narrow your options: Select a few vehicles you want to test drive in advance and visit a store where you can try out a variety of makes and models.
  3. Go somewhere you trust: Choose a retailer you trust to provide a transparent and enjoyable car buying experience focused on your needs.
  4. Ask questions: Ask your sales consultant as many questions as you need so that you fully understand the terms of your agreement before you sign any documents. 

Young adults were most likely to spend their refunds on a car

The online survey, conducted by Ipsos Public Affairs on behalf of CarMax, revealed that among those who are expecting a refund, those under the age of 35 (29 percent), parents (26 percent) and residents of the South (22 percent) were particularly likely to put their tax refund toward the purchase of a car. When it comes to putting their reimbursement toward a large purchase like a home or car, parents were twice as likely (23 percent) to say they have done so than are adults without children in their household (11 percent).

If you’re planning to be in the market for a used car like a Hyundai Sonata, do your homework by searching makes, models, and prices everywhere you can, including carmax.com. Happy hunting! 

For this survey, CarMax partnered with Ipsos, a leading global survey-based market research company. These are some of the findings of Ipsos polls conducted March 3-4, 2014. For the survey, a national sample of 1,010 adults aged 18 and older from Ipsos’ U.S. online panel was interviewed online.


Reviews and Research Articles

Used Car Bang-for-Your-Buck Strategies

Edmund's Cost Savings | CarMax

If you have the right strategy and an open mind, there are plenty of ways to save money when you’re shopping for a used car. Here are five ways to make a smarter used car purchase, stretch your dollars even further, and potentially get a newer or more fully-loaded vehicle.

Keep reading

12 Smart Tips for Buying the Right Used Car

10 Tips for Buying the Right Used Car | CarMax

So you’re ready to hunt for a new, used car. How’s your search going? Not sure how or where to start? We’ve got some car buying tips that can help. Buying a used car doesn’t need to be an ordeal — not when you’ve got solid pointers for searching, shopping, buying, and financing a vehicle. 

Keep reading

Reasons to Buy a Toyota Tundra

Reasons to Buy a Used Toyota Tundra | CarMax

The rugged, capable pickup truck is an American icon, right up there with the Statue of Liberty and the white-painted Hollywood sign. Of course, the truck needs to be American, preferably with a bench seat for three and room for a dog. Something like the Toyota Tundra, perhaps?

Keep reading

Reasons to Buy a Nissan 370Z

Reasons to Buy a Used Nissan 370z | CarMax

Over the last nearly 20 years, the Nissan 370Z has built up quite a strong reputation in the US. It has performed admirably against its pricier competition, such as the Toyota Supra and the Mazda RX-7. Today, the Nissan 370Z remains an excellent choice for those in the market for a sleek, stylish sports car with brilliant handling and an impressive interior with lots of driver-friendly features.

Keep reading

[{"Keyword":"appraisal","RedirectLocation":{"Anchor":"","Class":"","Text":"sell-my-car","Query":"","Title":"","Url":"/sell-my-car","Target":"","TargetId":"5c0dfe16-dfbc-46b2-a761-950b0a0f4b2e","Type":4}},{"Keyword":"billpay","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://www.cafpayments.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"bill pay","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://www.cafpayments.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"CarMax Auto Finance","RedirectLocation":{"Anchor":"","Class":"","Text":"carmax-auto-finance","Query":"","Title":"","Url":"/car-financing/carmax-auto-finance","Target":"","TargetId":"7f5c98cf-5f6d-4bb9-a448-80fc70586bde","Type":4}},{"Keyword":"Careers","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://jobs.carmax.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Customer Service","RedirectLocation":{"Anchor":"","Class":"","Text":"contact-us","Query":"","Title":"","Url":"/about-carmax/contact-us","Target":"","TargetId":"0a9d3175-0c81-4429-ae2d-6f8b6249c204","Type":4}},{"Keyword":"donation","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://foundation.carmax.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"employment","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://jobs.carmax.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Finance","RedirectLocation":{"Anchor":"","Class":"","Text":"car-financing","Query":"","Title":"","Url":"/car-financing","Target":"","TargetId":"476ec935-ceb6-49a0-ae0b-307de45edd3a","Type":4}},{"Keyword":"Financing","RedirectLocation":{"Anchor":"","Class":"","Text":"car-financing","Query":"","Title":"","Url":"/car-financing","Target":"","TargetId":"476ec935-ceb6-49a0-ae0b-307de45edd3a","Type":4}},{"Keyword":"foundation","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://foundation.carmax.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Fuel Economy","RedirectLocation":{"Anchor":"","Class":"","Text":"mpg-calculator","Query":"","Title":"","Url":"/research/mpg-calculator","Target":"Active Browser","TargetId":"eae991f3-2914-48bc-b753-1ab66c5a56cb","Type":4}},{"Keyword":"Glovebox","RedirectLocation":{"Anchor":"","Class":"","Text":"the-glovebox","Query":"","Title":"","Url":"/about-carmax/the-glovebox","Target":"","TargetId":"539a4e5b-8263-4e31-ad11-79962f09cb92","Type":4}},{"Keyword":"Investor","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://phx.corporate-ir.net/phoenix.zhtml?c=125417&p=irol-irhome","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"investor relations","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://phx.corporate-ir.net/phoenix.zhtml?c=125417&p=irol-irhome","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"jobs","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://jobs.carmax.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Login","RedirectLocation":{"Anchor":"","Class":"","Text":"sign-in","Query":"","Title":"","Url":"/mycarmax/sign-in","Target":"","TargetId":"462ff1ba-c0c7-4329-a281-24cf1a5fcd04","Type":4}},{"Keyword":"log in","RedirectLocation":{"Anchor":"","Class":"","Text":"sign-in","Query":"","Title":"","Url":"/mycarmax/sign-in","Target":"","TargetId":"462ff1ba-c0c7-4329-a281-24cf1a5fcd04","Type":4}},{"Keyword":"Make A Payment","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://www.cafpayments.com","Target":"","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"MaxCare","RedirectLocation":{"Anchor":"","Class":"","Text":"maxcare-service-plans","Query":"","Title":"","Url":"/car-buying-process/maxcare-service-plans","Target":"","TargetId":"9a82eea1-92ea-487d-8387-43967098d54e","Type":4}},{"Keyword":"max care","RedirectLocation":{"Anchor":"","Class":"","Text":"maxcare-service-plans","Query":"","Title":"","Url":"/car-buying-process/maxcare-service-plans","Target":"","TargetId":"9a82eea1-92ea-487d-8387-43967098d54e","Type":4}},{"Keyword":"MyCarMax","RedirectLocation":{"Anchor":"","Class":"","Text":"sign-in","Query":"","Title":"","Url":"/mycarmax/sign-in","Target":"","TargetId":"462ff1ba-c0c7-4329-a281-24cf1a5fcd04","Type":4}},{"Keyword":"Online Payment","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://www.cafpayments.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Pay Bill","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://www.cafpayments.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"payment","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://www.cafpayments.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Payment","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://www.cafpayments.com","Target":"","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"payment calculator","RedirectLocation":{"Anchor":"","Class":"","Text":"car-payment-calculator","Query":"","Title":"","Url":"/car-financing/car-payment-calculator","Target":"","TargetId":"ff17d4f4-c154-4f40-a6a1-9940bf42a2ee","Type":4}},{"Keyword":"philanthropy","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://foundation.carmax.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Press","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://phx.corporate-ir.net/phoenix.zhtml?c=232927&p=irol-overview","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Pressroom","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://phx.corporate-ir.net/phoenix.zhtml?c=232927&p=irol-overview","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Press Room","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://phx.corporate-ir.net/phoenix.zhtml?c=232927&p=irol-overview","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Quality","RedirectLocation":{"Anchor":"","Class":"","Text":"quality-certified-cars","Query":"","Title":"","Url":"/car-buying-process/why-carmax/quality-certified-cars","Target":"","TargetId":"c1d5624c-e406-45a3-bc44-08c8a0026ef5","Type":4}},{"Keyword":"Recall","RedirectLocation":{"Anchor":"","Class":"","Text":"recall-faq","Query":"","Title":"","Url":"/car-buying-process/recall-faq","Target":"","TargetId":"1e3a4788-b21b-408e-ae7d-cbbf297a991e","Type":4}},{"Keyword":"recruiting","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://jobs.carmax.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Reliability","RedirectLocation":{"Anchor":"","Class":"","Text":"research","Query":"","Title":"","Url":"/research","Target":"Active Browser","TargetId":"379d0fe4-36d6-4176-98b2-e40d17225d4b","Type":4}},{"Keyword":"research","RedirectLocation":{"Anchor":"","Class":"","Text":"research","Query":"","Title":"","Url":"/research","Target":"","TargetId":"379d0fe4-36d6-4176-98b2-e40d17225d4b","Type":4}},{"Keyword":"Safety","RedirectLocation":{"Anchor":"","Class":"","Text":"research","Query":"","Title":"","Url":"/research","Target":"Active Browser","TargetId":"379d0fe4-36d6-4176-98b2-e40d17225d4b","Type":4}},{"Keyword":"Search","RedirectLocation":{"Anchor":"","Class":"","Text":"search","Query":"","Title":"","Url":"/search","Target":"","TargetId":"02e96e41-3d6e-4cc4-a6d1-1963115d5a3b","Type":4}},{"Keyword":"sell my car","RedirectLocation":{"Anchor":"","Class":"","Text":"sell-my-car","Query":"","Title":"","Url":"/sell-my-car","Target":"","TargetId":"5c0dfe16-dfbc-46b2-a761-950b0a0f4b2e","Type":4}},{"Keyword":"Sell Your Car","RedirectLocation":{"Anchor":"","Class":"","Text":"sell-my-car","Query":"","Title":"","Url":"/sell-my-car","Target":"","TargetId":"5c0dfe16-dfbc-46b2-a761-950b0a0f4b2e","Type":4}},{"Keyword":"Store","RedirectLocation":{"Anchor":"","Class":"","Text":"stores","Query":"","Title":"","Url":"/stores","Target":"","TargetId":"feb20b45-e730-481c-8821-950e4f050aa1","Type":4}},{"Keyword":"store job","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://jobs.carmax.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"store position","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://jobs.carmax.com","Target":"","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Trade","RedirectLocation":{"Anchor":"","Class":"","Text":"sell-my-car","Query":"","Title":"","Url":"/sell-my-car","Target":"","TargetId":"5c0dfe16-dfbc-46b2-a761-950b0a0f4b2e","Type":4}},{"Keyword":"Trade In","RedirectLocation":{"Anchor":"","Class":"","Text":"sell-my-car","Query":"","Title":"","Url":"/sell-my-car","Target":"","TargetId":"5c0dfe16-dfbc-46b2-a761-950b0a0f4b2e","Type":4}},{"Keyword":"Trading In","RedirectLocation":{"Anchor":"","Class":"","Text":"sell-my-car","Query":"","Title":"","Url":"/sell-my-car","Target":"","TargetId":"5c0dfe16-dfbc-46b2-a761-950b0a0f4b2e","Type":4}},{"Keyword":"Volunteer","RedirectLocation":{"Anchor":"","Class":"","Text":"","Query":"","Title":"","Url":"http://foundation.carmax.com","Target":"_blank","TargetId":"00000000-0000-0000-0000-000000000000","Type":2}},{"Keyword":"Warranty","RedirectLocation":{"Anchor":"","Class":"","Text":"maxcare-service-plans","Query":"","Title":"","Url":"/car-buying-process/maxcare-service-plans","Target":"","TargetId":"9a82eea1-92ea-487d-8387-43967098d54e","Type":4}},{"Keyword":"Warrenty","RedirectLocation":{"Anchor":"","Class":"","Text":"maxcare-service-plans","Query":"","Title":"","Url":"/car-buying-process/maxcare-service-plans","Target":"","TargetId":"9a82eea1-92ea-487d-8387-43967098d54e","Type":4}}] {"Finance-Application":{"WhiteList":[7106,7242,6021,7103,7104,7117,7243,7171,7197,6042,7150,7284,7218],"BlackList":[]},"Finance-Application-CoApp":{"WhiteList":[7117,7106,7171,7150,7218,7284,7242,6042,6021,7103,7104,7243,7197],"BlackList":[]},"Finance-Application-Suppress-Search-Results":{"WhiteList":[7106,7171,7197],"BlackList":[]},"Home-Delivery":{"WhiteList":[7106,7171,7197],"BlackList":[]}} {"Prequal":{"Regex":{"__interceptors":[{}],"Regex":"[0123456789abcdef]$"}}}
{"auto-address-switch":{"Enabled":false},"holdformvariantswitch":{"Enabled":false},"paidsearchurlitemsavingswitch":{"Enabled":true},"prequal-employment-and-income-switch":{"Enabled":false},"prequal-monthly-payment-preview-switch":{"Enabled":true},"prequal-on-calculator-switch":{"Enabled":true},"prequal-section-one-variant-switch":{"Enabled":true},"recommendedvehiclessearchresults":{"Enabled":true},"rendermakemodelresearchresultsonserver":{"Enabled":true},"rendermakemodelyearresearchresultsonserver":{"Enabled":true},"rendermakeresearchresultsonserver":{"Enabled":true},"research-pages-redirector-toggle":{"Enabled":true},"robots-txt-toggle":{"Enabled":true}}