Low Rate or Cash Back?

Manufacturers and dealers often use low-rate financing or cash-back offers to sell specific vehicles. While a low-rate loan sounds attractive, you might be better off taking the cash back, using it to add to your down payment and reducing the loan amount for the vehicle. A lower loan amount will mean a lower monthly payment and you might find that the interest you save from a lower rate is less than the cash back amount. Use this calculator to analyze the numbers.
 

_{The calculators found on this page are for information purposes only.   While the results of the calculators may be generally accurate, the results do not reflect any specific Credit Union accounts, loans or other products or services and may not exactly match the calculation methods used by the Credit Union (or any third party) for accounts, loans or other products or services.  These calculators should be used only for general informational purposes and should not be relied on for any specific transaction.}