Cheat Sheet Calculator - Low APRs

"Low APRS" are interest rates that are below the current rates that are offered through traditional lending institutions like banks and credit unions. These low APRs will always have a defined Term.

For example, Toyota may offer 3.9% but only on a 48 month loan. These "Low APRs" normally may not be combined with the Manufactures Rebate. For example, Toyota is offering 3.9% financing and a $1500 rebate, The customer can either select the 3.9% interest or the $1500.

In most cases it is better to use the cash rebate rather than the low APR because when you apply the cash rebate to the price you are reducing the principle balance of the loan. On the other hand, when you use the low APR you are essentially applying the rebate to the financing and if you pay the loan off early you will not realize the full savings.

This worksheet will also automatically calculate the rebates and the "Low APRs" separately. So the customer should enter the Low APR and Special term in the worksheet if it is available.

The example below is found using Edmunds.com