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.
Low Rate or Cash Back?
Low Rate or Cash Back?
Low Rate Option
Loan Amount
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Cash Back Option
Loan Amount
Monthly Payment
The accuracy of this calculator is not guaranteed by First Citizens Bank [or its affiliates] and is intended for informational purposes only. The calculator displayed does not constitute the advice of, or reflect actual products, services, rates and/or terms available from First Citizens Bank [or its affiliates] and nothing contained in the calculator shall constitute an offer or solicitation of a product or service by First Citizens Bank [or its affiliates].