Auto Rebate vs. Low Interest Financing
Some car manufacturers may offer a rebate or low-interest financing to reduce the overall cost of the car and monthly payments. A rebate will reduce your starting balance. Low-interest financing may lower your monthly payments than monthly payments with a regular interest rate. This calculator can help you determine how a cash rebate at the beginning compares to a lower interest rate throughout your auto loan.
Our financial calculators are provided as a free service to our Members. The information these calculators supply is from various sources based on calculations we believe to be reliable (but are not guaranteed, explicit, or implied) regarding their accuracy or applicability to your specific circumstances. All examples are hypothetical and illustrative and do not intend to provide investment advice. TDECU does not accept any liability for loss or damage whatsoever, which may be attributable to the reliance on and use of the calculators. Use of any calculator constitutes acceptance of the terms of this agreement. TDECU recommends finding a qualified professional for advice about your personal finance issues.