Honda is offering a choice of either 48-month 1.2% APR financing or $2,800 cash back on...

 

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Honda is offering a choice of either "48-month 1.2% APR" financing or "$2,800 cash back" on a car you have decided to buy. That amount of car loan is $35,000. If you can borrow the money to buy the car from several different banks at 9.0% APR, would you be better off taking the cash-back offer? Explain Why or why Not? Honda is offering a choice of either "48-month 1.2% APR" financing or "$2,800 cash back" on a car you have decided to buy. That amount of car loan is $35,000. If you can borrow the money to buy the car from several different banks at 9.0% APR, would you be better off taking the cash-back offer? Explain Why or why Not?