ÿþ<HTML> <HEAD> <TITLE>Auto Rebate vs. Low Interest Financing</TITLE> <META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=iso8859-1"> <META NAME="description" CONTENT="Financial Calculators, ©1998-2010 KJE Computer Solutions, LLC. For more information please see http://www.dinkytown.net"> <STYLE> <!-- BODY, TABLE, TD, TH, UL, OL, DD, DL, P, BR { font-family: helvetica, arial, sans-serif; font-size: 10pt; } H1 { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } DT { font-family: helvetica, arial, sans-serif; font-size: 10pt; font-weight: bold; } P.footer { font-family: helvetica, arial, sans-serif; font-size: 9pt; } DIV.large { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } --> </STYLE> </HEAD> <!-- Financial Calculators, ©1998-2008 KJE Computer Solutions, LLC. 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For more information please see: <A HREF="http://www.dinkytown.net">http://www.dinkytown.net</A> --> <H1>Auto Rebate vs. Low Interest Financing</H1><P>Use this calculator to help you determine whether you should take advantage of low interest financing or a manufacturer rebate. A rebate will reduce your auto loan balance, while low interest financing lowers your monthly payment. The best option depends on the price of the vehicle, the size of the rebate and the interest rates available for financing.<P><CENTER> <!--[if IE]><object name="calculator" classid="clsid:8AD9C840-044E-11D1-B3E9-00805F499D93" codebase="http://java.sun.com/update/1.6.0/jinstall-6-windows-i586.cab#Version=1,4,0,0" height="400" width="565"><param name="code" value="AutoRebate" /><param name="archive" value="dinkytown.jar" /> <P style="font-size:1px; color: #ffffff" line-height: 1px><![endif]--><![if !IE]><P style="font-size:1px; color: #ffffff" line-height: 1px><![endif]></P><![if !IE]><APPLET name="calculator" code="AutoRebate.class" align="baseline" WIDTH="565" HEIGHT="400" archive="dinkytown.jar"><![endif]> <PARAM name="DISABLE_SALES_TAX_RATE" value="false"> <PARAM name="MSG_TITLE_LBL" value="Auto Rebate vs. Low Interest Financing"> <PARAM name="SALES_TAX_LESS_TRADE" value="false"> <PARAM name="TAX_BEFORE_REBATE" value="false"> <PARAM name="SHOW_FEES" value="false"> <PARAM name="MONTHLY_PAYMENT" value="300"> <PARAM name="INTEREST_RATE1" value="1.9"> <PARAM name="INTEREST_RATE" value="6.5"> <PARAM name="MSG_INTEREST_RATE1" value="Low interest"> <PARAM name="MSG_INTEREST_RATE" value="Traditional financing"> <PARAM name="MSG_GRAPH1" value="INTEREST_RATE Financing"> <PARAM name="MSG_GRAPH2" value="MANUFACTURER_REBATE Rebate"> <PARAM name="MANUFACTURER_REBATE" value="2500"> <PARAM name="TERM" value="48"> <PARAM name="CASH_DOWN" value="1500"> <PARAM name="TRADE_ALLOWANCE" value="5000"> <PARAM name="AMOUNT_OWED_ON_TRADE" value="4000"> <PARAM name="NONTAX_FEES" value="0"> <PARAM name="TAXABLE_FEES" value="0"> <PARAM name="SALES_TAX_RATE" value="7.00"> <PARAM name="AUTO_SALE_PRICE" value="20000"> <!--CUSTOM PARAMETERS--> <PARAM name="TEXT_FOR_REPORT" value="<HTML> <HEAD> <TITLE>Auto Rebate vs. Low Interest Financing</TITLE> <META HTTP-EQUIV='Content-Type' CONTENT='text/html; charset=iso8859-1'> <META NAME='description' CONTENT='Financial Calculators, &QCPQ;1998-2010 KJE Computer Solutions, LLC. For more information please see http://www.dinkytown.net'> <STYLE> <!-- BODY, TABLE, TD, TH, UL, OL, DD, DL, P, BR { font-family: helvetica, arial, sans-serif; font-size: 10pt; } H1 { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } DT { font-family: helvetica, arial, sans-serif; font-size: 10pt; font-weight: bold; } P.footer { font-family: helvetica, arial, sans-serif; font-size: 9pt; } DIV.large { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } --> </STYLE> </HEAD> <BODY bgcolor='#FFFFFF' LINK='#003399' VLINK='#666666' BGCOLOR='#FFFFFF'> <CENTER><table border=0 bgcolor='#000000' width=468 cellspacing=1 cellpadding=0><tr><td width='100%'><table bgcolor='#FFFFDD' border=0 width=468 cellspacing=1 cellpadding=5><tr><td width='100%' align=center valign=middle><DIV class=large>Auto Rebate vs. Low Interest Financing</DIV></td></tr></table></TD></TR></TABLE></CENTER> <H1>MSG_RESULTS</H1><P>Choosing the manufacturer rebate of MANUFACTURER_REBATE1 results in a loan of LOAN_AMOUNT1 with a monthly payment of MONTHLY_PAYMENT1. A low interest incentive loan at INTEREST_RATE2 results in a loan of LOAN_AMOUNT2 with a monthly payment of MONTHLY_PAYMENT2. The total of all of your payments** would be TOTAL_OF_PAYMENTS1 for the manufacturer rebate option and TOTAL_OF_PAYMENTS2 for the low interest incentive option.<P>**GRAPH** <P><CENTER><table border=0 bgcolor='#000000' width=95% cellspacing=1 cellpadding=0><tr><td width='100%'><table bgcolor='#FFFFFF' border=0 width=100% cellspacing=1 cellpadding=5> <TR BGCOLOR='#CCCCCC'><TH>&NBSP;</TH><TH>INTEREST_RATE2 Low Interest<BR>Financing</TH><TH>MANUFACTURER_REBATE1 Manufacturer<BR> Rebate</TH></TR> <TR><TD><B>Interest rate:</B></TD><TD>INTEREST_RATE2</TD><TD>INTEREST_RATE1</TD></TR> <TR><TD><B>Term in months:</B></TD><TD>TERM</TD><TD>TERM</TD></TR> <TR><TD><B>Total purchase price (before tax):</B></TD><TD>AUTO_SALE_PRICE </TD><TD>AUTO_SALE_PRICE</TD></TR> <TR><TD><B>Manufacturer rebate:</B></TD><TD>MANUFACTURER_REBATE2</TD><TD>MANUFACTURER_REBATE1</TD></TR> <TR><TD><B>Price after rebate:</B></TD><TD>AUTO_AFREBATE_PRICE2</TD><TD>AUTO_AFREBATE_PRICE1</TD></TR> <TR><TD><B>Sales tax*:</B></TD><TD>SALES_TAX2</TD><TD>SALES_TAX1</TD></TR> <TR><TD valign=top><B>&NBSP;</B></TD><TD colspan=2><P class=footer>*MSG_CHECK_TAX_LESS_TRADE Currently California, the District of Columbia, Hawaii, Maryland and Michigan allow no deductions for trade-ins when calculating sales tax. If you live in one of these states make sure to check the box 'No sales tax deduction for trade-in' on the main calculator page. </TD></TR> <TR><TD><B>Total sales price (after tax):</B></TD><TD>TOTAL_SALE_PRICE2</TD><TD>TOTAL_SALE_PRICE1</TD></TR> <TR><TD valign=top><B>Total down payment**:</B></TD><TD>TOTAL_DOWN2</TD> <TD>TOTAL_DOWN1</TD></TR> <TR><TD valign=top><B>&NBSP;</B></TD><TD colspan=2><P class=footer>**Your total down payment is calculated as your cash down payment of CASH_DOWN plus your trade-in allowance of TRADE_ALLOWANCE minus the AMOUNT_OWED_ON_TRADE loan balance outstanding on your trade-in vehicle.</TD></TR> <TR BGCOLOR='#CCCCCC'><TD><B>Loan amount:</B></TD><TD>LOAN_AMOUNT2</TD><TD>LOAN_AMOUNT1</TD></TR> <TR BGCOLOR='#CCCCCC' ><TD><B>Monthly payment:</B></TD><TD>MONTHLY_PAYMENT2</TD><TD>MONTHLY_PAYMENT1</TD></TR> <TR BGCOLOR='#CCCCCC'><TD><B>Total payments***:</B></TD><TD>TOTAL_OF_PAYMENTS2</TD><TD>TOTAL_OF_PAYMENTS1</TD></TR> <TR BGCOLOR='#CCCCCC'><TD><B>Total interest paid***:</B></TD><TD>INTEREST_PAID2</TD><TD>INTEREST_PAID1</TD></TR> <TR><TD valign=top><B>&NBSP;</B></TD><TD colspan=2><P class=footer>***This assumes that you do not refinance your loan and that all payments are made on time with no prepayments of the loan.</TD></TR> </TABLE></TD></TR></TABLE> </CENTER> <P><DIV class=large>Payment schedule</DIV> <HR SIZE=1> **REPEATING GROUP** <BR> <HR SIZE=1> <CENTER><P class=footer> 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 cannot 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. </P></CENTER><br><br> </BODY> </HTML> "> <H1><CENTER>This Financial Calculator requires SUN's Java"! Plug-in. If you see this message you will need to download SUN's Java"! Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing  Install ActiveX Control . </CENTER></H1> <OL> You can also get SUN's Java"! Plug-in here: <A href="http://www.java.com/en/download/download_the_latest.jsp" target=_blank><b>Get the Java"! Plug-in!</b></A> <P>For more information about this Plug-in please visit: <A href="http://www.dinkytown.net/money/sunjvm.html" target=_blank><b>SUN's Java"! Plug-in</b></A> <BR>For more information these financial calculators please visit: <A href="http://www.dinkytown.net" target=_blank><b>Financial Calculators from KJE Computer Solutions, LLC</b></A> </OL><!--[if IE]></OBJECT><![endif]--><![if !IE]></APPLET><![endif]> </CENTER><CENTER><SCRIPT>document.write(showbuttons())</SCRIPT> </CENTER> <H1>Definitions</H1><P><TABLE align='center' WIDTH="95%"><TR><TD><DL><!--DEFN_START--> <DT><B>Total purchase price (before tax)</B><DD>This is the total cost of your auto purchase. Include the cost of the vehicle, any additional options and any destination charges. Don't include sales tax in this amount. Sales tax will be calculated for you and included in your total after tax price.<P> <DT><B>Term in months</B><DD>Number of months for your auto loan.<P> <DT><B>Cash down</B><DD>Total amount of cash used in this purchase. The larger your cash down payment the smaller the loan you will need to finance this purchase.<P> <DT><B>Trade allowance</B><DD>The total amount that you are given for any automobile that you trade-in as part of this purchase. In some states a trade-in can also reduce the amount of sales tax you will owe. See the definition for "Sales tax deduction for trade-in" for more information on trade-in vehicles and sales tax.<P> <DT><B>Amount owed on trade</B><DD>Total loan balance still outstanding on the trade-in.<P> <DT><B>Sales tax rate</B><DD>Sales tax percentage rate charged on this purchase.<P> <DT><B>Low interest financing</B><DD>The incentive interest rate you may be able to receive from an auto manufacturer. These rates are usually significantly below standard auto loan interest rates. Low interest financing can be as little as 0% per year. Most manufacturers allow you to choose either low interest financing or a manufacturer rebate, but not both. This calculator assumes that if you choose low interest financing you are not eligible for any manufacturer rebate. <P> <DT><B>Manufacturer rebate</B><DD>A cash rebate paid by the auto manufacturer to you when you purchase a new vehicle. Most manufacturers allow you to choose either low interest financing or a manufacturer rebate, but not both. <P> <DT><B>Traditional financing</B><DD>The interest rate you may be able to receive from a bank, credit union or other lender. This is usually a higher interest rate than the manufacturer's low interest financing, but is often very competitive when used in combination with a manufacturer rebate. This calculator assumes that if you choose a manufacturer rebate you are not eligible for manufacturer low interest financing.<P> <DT><B>No sales tax deduction for trade-in</B><DD>If you live in a state where your sales tax is calculated on your full purchase price check this box. If this box is unchecked sales tax is calculated on the purchase price less trade-in. Currently California, the District of Columbia, Hawaii, Maryland and Michigan allow no deductions for trade-ins when calculating sales tax. In addition, Alaska, Delaware, Montana, New Hampshire, and Oregon have no sales tax on autos. <P> <DT><B>Calculate sales tax before rebate</B><DD> Some states will calculate sales tax on your purchase price before a manufacturer's rebate is applied. If your state calculates sales tax on the vehicle price before the rebate is applied, check this box. <!--DEFN_END--></DL></TD></TR></TABLE> <BR> <HR SIZE=1> <CENTER> <P class=footer> 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 cannot 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. </P></CENTER> <BR> </BODY> </HTML>