GM is offering "60-month 1.9% APR" financing or $3,500 cash back" on a car you...
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GM is offering "60-month 1.9% APR" financing or $3,500 cash back" on a car you have decided to buy. The stated price for the car is $30,000. If you can borrow the cash to buy the car from several different banks at 6.3% APR, would you be better off taking the cash-back offer? please click on the following link to access a blank Excel-type worksheet: Blank XLS Worksheet.xls Yes, the payments are less with special financing, No, the payments are higher with special financing Indifferent, the payments are the same with either financing Cannot deermine which loan is less expensive
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