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.
Enjoy exclusive, low, established pricing on your next new or used car with our Auto Buying Program.
Visit MakingCents for clear, step-by-step information on the car-buying process, from understanding car costs to making the deal.
If you didn't finance your auto loan at Navy Federal, now's your chance! Refinance with us and get $200!*
*Existing Navy Federal loans not eligible for this offer. Loan must remain open for 60 days with first scheduled payment made in order to receive the offer. $200 will be credited to the primary applicant’s savings account between 61 and 65 days of the loan origination date. If the auto refinance loan is canceled or paid off in the first 60 days, the $200 offer will become invalid. Offer may expire at any time. Recipient is solely responsible for any personal tax liability arising out of this incentive.