Use this calculator to see which option gets you ahead

Vehicle manufacturers or dealers often offer incentives to purchase a specific vehicle in the form of a low-rate loan or a cash back incentive. 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 savings you'll gain by the low rate loan is less than the cash back amount.

Disclaimer: The accuracy of these calculators and applicability to your circumstances is not guaranteed. Calculators are not a guarantee of credit. Results should be discussed with a qualified professional before any product purchases or loan commitments are made.

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