Compare cash back rebate vs low interest financing to find the best deal when buying a car.
Manufacturer's special financing rate (no cash back)
The low interest financing option saves you $1,419.25 over the life of the loan. The lower interest rate more than makes up for the lost rebate.
| Metric | Cash Back | Low Interest | Difference |
|---|---|---|---|
| Loan Amount | $29,800 | $32,800 | $3,000 |
| Interest Rate | 7.5% | 1.9% | 5.6% |
| Monthly Payment | $597.13 | $573.48 | $23.65 |
| Total Interest | $6,027.85 | $1,608.6 | $4,419.25 |
| Total Cost | $40,827.85 | $39,408.6 | $1,419.25 |
At $3,000, the cash back exceeds the break-even point of $0, making it the better choice.
Low Interest Financing
$1,419.25
Total Savings
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