How car rebates work Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial choices by offering interactive tools and financial calculators, publishing original and objective content. This allows you to conduct your own research and compare data for free to help you make sound financial decisions. Bankrate has partnerships with issuers, including but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this website are provided by companies that compensate us. This compensation may impact how and where products appear on this site, including the order in which they may appear within the listing categories and other categories, unless prohibited by law. Our mortgage, home equity and other home loan products. However, this compensation will have no impact on the information we provide, or the reviews that you see on this site. We do not cover the entire universe of businesses or financial offers that may be accessible to you. Don Mason/Getty Images

3 min read Published 21st October 2022

Writer: Rebecca Betterton Written by Auto Loans Reporter Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in helping readers with the details of borrowing money to purchase an automobile. Written by Chelsea Wing Edited by Student loans editor Chelsea has been with Bankrate since the beginning of 2020. She’s dedicated to helping students navigate the high costs of college and dissecting the complexity of student loans. The Bankrate promises

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who ensure everything we publish is objective, accurate and reliable. We have loans journalists and editors focus on the areas that consumers are concerned about most — the different types of lending options as well as the best rates, the most reliable lenders, how to repay debt, and many more. So you’re able to be confident about making your decision to invest your money. Integrity of the editing

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If you have questions about money. Bankrate has answers. Our experts have helped you understand your finances for more than four decades. We strive to continuously give our customers the right advice and tools needed to make it through life’s financial journey. Bankrate adheres to strict standards policy, which means you can be confident that our information is trustworthy and accurate. Our award-winning editors and journalists provide honest and trustworthy content to help you make the right financial choices. The content we create by our editorial staff is objective, truthful, and not influenced by our advertisers. We’re transparent about the ways we’re able to bring quality information, competitive rates and useful tools for our customers by describing how we make money. is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for the placement of sponsored products and services or by you clicking on certain hyperlinks on our site. So, this compensation can affect the way, location and in what order items are listed in the event that they are not permitted by law. We also offer mortgage, home equity and other products for home loans. Other factors, such as our own rules for our website and whether or not a product is available within your region or within your own personal credit score could also affect the manner in which products appear on this site. Although we try to offer an array of offers, Bankrate does not include specific information on each credit or financial service or product. When the time comes to explore financing for the purchase of a new vehicle there are a variety of choices for details about promotional finance, including rebates. Rebates will give you a portion of the money when you purchase a car, and can reduce your total loan amount. However, manufacturers and dealers structure their incentives differently. Before you sign a contract to purchase a brand new vehicle, make sure the rebate will actually save you money. What exactly is a rebate offered on an automobile? An auto loan rebate is an incentive that gives you cash to purchase a car. This serves as motivation for buyers to purchase the car within the particular scenario the dealership controls. However, since rebates are provided by manufacturers, you’ll require the dealership that has a direct relationship with the manufacturer to get the rebate. You might also have to choose a specific model, typically one of the more expensive choices, to qualify for a rebate. What are auto rebates? Rebates are deals that provide buyers with some thousands of dollars off the price of the car. The rebates won’t affect your purchase price — you can and should bargain with the dealer prior to considering rebates. However, it will lower the amount you spend on a car. Rebates usually last for several months and you will have meet certain requirements in order to qualify — for instance, you might have to choose a particular kind of vehicle or apply for . Do you think an auto-rebate is a good idea? It is a good idea to consider an auto loan rebates are something to look for if they’re available. Rebates can be added to the amount of your deposit, closing costs, or to the total loan amount. In some cases you could see your loan reduced by several thousands of dollars. However, you shouldn’t purchase the vehicle solely due to a rebate. In most cases the range of vehicles that are eligible for rebates will be limited, and rebates tend to be restricted to newer vehicles and, often, the more expensive versions of these new cars. The draw of a rebate could tempt you to buy a car that doesn’t suit your budget or needs. How to get an auto rebate . Unlike zero percent financing, rebates on cars aren’t governed by any particular requirements. If you pick a model and trim that has rebates, you are eligible. Find manufacturer offers on new vehicles — rebates are typically advertised alongside lease deals and special interest rates. Auto rebates could be directly sent to you, however it may also be part of a down payment. This means you need to finance less overall and can save cash upfront and throughout the life of your car loan. In some states, you might be able to have rebates applied to cost of the purchase before taxes , but you’ll have to verify the rules of your state when requesting an offer. Auto rebate vs. low-interest financing Rebates and deals like a 0 percent APR offer, can save you money in different ways. Rebates offer you an amount that is fixed that is typically applied to either the downpayment or your closing costs. The financing with low interest however will reduce your ongoing interest and could lower your monthly installment. An auto rebate is likely to help you save the most on your vehicle overall. While you’ll pay an interest rate on the loan but it will be interest on a much lower amount. A 0 percent APR offer can also help you save cash over time, but the most important benefit is reduced monthly payment. Creditworthy people could be able to have the most beneficial of both worldsreceiving a rebate from the dealer and getting a lower percentage of interest through an . The bottom line The key to determine whether it is a smart financial choice comes down to the amount of money it could be worth. Check for rebates on vehicle models that you were already contemplating and know how the rebate will be applied. You can utilize a car financing calculator to compare the amount you can save by using different financing options. Learn more


Written by Auto Loans Reporter Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers in navigating the ins and outs of securely borrowing money to purchase cars. The article is edited by Chelsea Wing Edited by student loans editor Chelsea has been working at Bankrate since the beginning of 2020. She’s committed to helping students navigate the high cost of college as well as breaking down the complexities that are associated with student loans.

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