Quote:
Originally Posted by tukluc
Finance $60,000 @ 1.9% for 60-months: $2940 interest
Finance $60,000 @ 2.9 % for 60-months: $4530 interest
Moral of the story...the $1500 they give you is roughly equivalent to the difference in intersts costs noted above.
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Yeah, the monthly premiums were roughly the same, with the 2.9% APR and $1500 rebate being slightly lower. But I plan on paying off the loan after 12 months or so (I'm only financing to help build up my credit history), which should save me a couple thousand on interest. They wouldn't approve me for the 36 month / 0.9% APR because of my short credit history.