Which is the better option for you–borrowing money to buy a vehicle or paying cash? Generally, if the interest rate you earn on your savings is lower than the after-tax cost of borrowing, it is cheaper to pay cash. However, you face a potential loss of financial flexibility if you pay cash. Use this calculator to determine which option is best for you.
This calculator is for general education purposes only and is not an illustration of current Navy Federal products and offers.
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Existing Navy Federal loans are not eligible for this offer. Auto refinance loan must be at least $5,000. Loan must be open for at least 60 days with first scheduled payment made to be eligible for the $200, which will be credited to the primary applicant’s savings account between 61 and 65 days of the loan origination date. Offer may end at any time. Recipient is solely responsible for any personal tax liability arising out of this incentive.↵