1st City Credit Union
5011 Hampton Ave.
St. Louis, MO 63109

(314) 353-6676


Automaker Financing vs Low Interest Financing Results

 

 

 

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Manufacturer rebate with credit union financing could save you:
$1,031.43 in total payments and $21.49 in monthly payments.

1.90% Low Interest
Manufacturer Financing
$2,500 Manufacturer Rebate with Credit Union Financing

Interest Rate

1.90%
$7.00%
Term
48
48
Purchase price
(before tax
$20,000
$20,000
Manufacturer rebate
0
$2,500.00
Price after rebate
$20,000
$17,500
Sales Tax
$1,050.00
$875.00
Total Sales Price
(after tax)
$21,050
$20,875
Total down payment
$2,500
$2,500
 
Loan amount
$18,550
$15,875
Monthly payment
$401.64
$380.15
Total payments
$19,278.48
$18,247.05
Total interestt
$728.48
$2,372.05

 

 

 

 

 

 

 

 

 

 

Payment schedule


1.90% Low Interest Manufacturer Financing $2,500 Manufacturer Rebate with
Credit Union Financing
# Payment Interest Balance Payment Interest Balance
      $18,550.00     $15,875.00
1 $401.64 $29.37 $18,177.73 $380.15 $92.60 $15,587.45
2 $401.64 $28.78 $17,804.87 $380.15 $90.93 $15,298.23
3 $401.64 $28.19 $17,431.42 $380.15 $89.24 $15,007.32
4 $401.64 $27.60 $17,057.38 $380.15 $87.54 $14,714.71
5 $401.64 $27.01 $16,682.75 $380.15 $85.84 $14,420.40
6 $401.64 $26.41 $16,307.52 $380.15 $84.12 $14,124.37
7 $401.64 $25.82 $15,931.70 $380.15 $82.39 $13,826.61
8 $401.64 $25.23 $15,555.29 $380.15 $80.66 $13,527.12
9 $401.64 $24.63 $15,178.28 $380.15 $78.91 $13,225.88
10 $401.64 $24.03 $14,800.67 $380.15 $77.15 $12,922.88
11 $401.64 $23.43 $14,422.46 $380.15 $75.38 $12,618.11
12 $401.64 $22.84 $14,043.66 $380.15 $73.61 $12,311.57
13 $401.64 $22.24 $13,664.26 $380.15 $71.82 $12,003.24
14 $401.64 $21.64 $13,284.26 $380.15 $70.02 $11,693.11
15 $401.64 $21.03 $12,903.65 $380.15 $68.21 $11,381.17
16 $401.64 $20.43 $12,522.44 $380.15 $66.39 $11,067.41
17 $401.64 $19.83 $12,140.63 $380.15 $64.56 $10,751.82
18 $401.64 $19.22 $11,758.21 $380.15 $62.72 $10,434.39
19 $401.64 $18.62 $11,375.19 $380.15 $60.87 $10,115.11
20 $401.64 $18.01 $10,991.56 $380.15 $59.00 $9,793.96
21 $401.64 $17.40 $10,607.32 $380.15 $57.13 $9,470.94
22 $401.64 $16.79 $10,222.47 $380.15 $55.25 $9,146.04
23 $401.64 $16.19 $9,837.02 $380.15 $53.35 $8,819.24
24 $401.64 $15.58 $9,450.96 $380.15 $51.45 $8,490.54
25 $401.64 $14.96 $9,064.28 $380.15 $49.53 $8,159.92
26 $401.64 $14.35 $8,676.99 $380.15 $47.60 $7,827.37
27 $401.64 $13.74 $8,289.09 $380.15 $45.66 $7,492.88
28 $401.64 $13.12 $7,900.57 $380.15 $43.71 $7,156.44
29 $401.64 $12.51 $7,511.44 $380.15 $41.75 $6,818.04
30 $401.64 $11.89 $7,121.69 $380.15 $39.77 $6,477.66
31 $401.64 $11.28 $6,731.33 $380.15 $37.79 $6,135.30
32 $401.64 $10.66 $6,340.35 $380.15 $35.79 $5,790.94
33 $401.64 $10.04 $5,948.75 $380.15 $33.78 $5,444.57
34 $401.64 $9.42 $5,556.53 $380.15 $31.76 $5,096.18
35 $401.64 $8.80 $5,163.69 $380.15 $29.73 $4,745.76
36 $401.64 $8.18 $4,770.23 $380.15 $27.68 $4,393.29
37 $401.64 $7.55 $4,376.14 $380.15 $25.63 $4,038.77
38 $401.64 $6.93 $3,981.43 $380.15 $23.56 $3,682.18
39 $401.64 $6.30 $3,586.09 $380.15 $21.48 $3,323.51
40 $401.64 $5.68 $3,190.13 $380.15 $19.39 $2,962.75
41 $401.64 $5.05 $2,793.54 $380.15 $17.28 $2,599.88
42 $401.64 $4.42 $2,396.32 $380.15 $15.17 $2,234.90
43 $401.64 $3.79 $1,998.47 $380.15 $13.04 $1,867.79
44 $401.64 $3.16 $1,599.99 $380.15 $10.90 $1,498.54
45 $401.64 $2.53 $1,200.88 $380.15 $8.74 $1,127.13
46 $401.64 $1.90 $801.14 $380.15 $6.57 $753.55
47 $401.64 $1.27 $400.77 $380.15 $4.40 $377.80
48 $401.40 $0.63 $0.00 $380.00 $2.20 $0.00

These calculators are provided only as a general self-help planning tool and not to provide investment advice. Results depend on many factors. We do not guarantee their accuracy, or applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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