Low Rate or Cash Back?

Vehicle Information
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Trade-In Information
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Loan Information
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Low Rate Option
Cash Back Option
Total Cost of Loan
Loan CostsLow RateCash Back
Total Interest
Total Principal
Total Cost of Loan
Vehicle manufacturers or dealers will 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. Evaluate which option is best. 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.