Should I take the low rate or the cash back?

Vehicle manufacturers or dealers will often offer incentives to purchase a particular 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 will gain by the low rate loan is less than the cash back amount.

Calculations provided by Fintactix.
  • Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

DuPage Credit Union auto loan benefits

  • Most decisions within hours. We make it easy for you to get into your next vehicle.
  • Flexible terms. Take up to 84 months (on 2018 & Newer Models) to pay off your loan.
  • No pre-payment penalties. Pay off your vehicle on your time.
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