Consumer Car Buying Advice Blog

For once, there was good news out of Washington this week. Those economic stimulus payments will be mailed out a week early.

You can use your economic stimulus payment as a down payment

Here at Auto Credit Express, we want you to understand how the rebate payments work and what to expect.

The payment will be based on your 2007 Federal tax return. In order to qualify for the payment, you must file a 2007 return. Most individuals will receive $600, married couples who filed jointly will get $1,200 and dependent children will add $300 each to the total.

The IRS has set up a payment calculator on their web site to help you calculate your rebate. For more information, visit the Internal Revenue Service website. The general web site address is www.irs.gov. The Economic Stimulus calculator site is http://www.irs.gov/app/espc/. Be sure to have your tax return handy when you do this, since you will be required to answer specific questions about your filing status as well as line entries on your return. It’s also important to remember how you filed your return (which form you used) as well as how you received your refund.

If you qualified for a refund and had that money direct deposited in the bank, your stimulus payment will come even sooner. In fact, if you filed your return by April 15th and chose direct deposit for the refund, your stimulus payment, if you qualify, will be direct deposited in the same account no later than May 16th. That is according to the published schedule. With the revised schedule, most people with direct deposit will receive their payments no later than May 9th.

Stimulus Payment Schedule

The following is a schedule of when the payments will be made, provided you qualify and filed your return by April 15th. Remember, since this schedule was put together, payment dates have been moved up by a week:

How Auto Credit Express can help once you’ve received your payment
Our web site, www.autocreditexpress.com, can help you in your car buying decision. Especially if you have bad credit, our web site explains the application and buying process. In addition, our nationwide network of affiliated dealers specialize in financing for credit challenged customers.
Once you’ve had the chance to research the process, including our auto loan calculators and bad credit FAQ page, you can fill out our secure auto loan application in the comfort and privacy of your home. Remember: here at Auto Credit Express, we want you “on the road” to better credit!

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