New Auto Loan Rebates

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Should I take a rebate or a low interest rate?

New Auto Loan Rebates

Dealerships will often offer low interest rates or big rebates in an attempt to get new customers in the door, but rarely are these perks both offered at the same time. When financing a new car, buyers need to choose between the big rebate and the low interest rate. Which one is the better option depends largely on the buyer's individual situation. Financially, it can make sense to choose either one, although in many cases the best option is to take the lower interest rate instead of the big rebate. This can depend largely, however, on how the buyer intends on using the rebate. If the rebate will be put right back into the balance of the new car loan, this may make more sense than taking the low interest rate. It all depends on the individual circumstances. Luckily, there are plenty of calculators online which will crunch the numbers for you and tell you which scenario is most financially advantageous. It may be tempting to take a big rebate instead of the lower interest rate, but if you do the calculations and find out that the low interest rate saves you money in the long run then you should take it.

   

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