Car financing options: 3% vs 5.69% with discount

There are two auto financing options:

1. 3% APR for 60 months

2. 5.69% APR for 60 month with a $1500 off discount

Assuming the price of the loan is $30,000 after all fees, taxes, etc., which would be the better option?

I did some basic calculations and option #2 with 5.69% APR and discount will come out to be several hundred dollars more at the end of the 60 months. I also considered putting the $1500 saved into a high interest savings account, but this only yields ~ 200-300 hundred dollars more after 5 years assuming 4-5% interest. So the total comes out to be pretty close.

Are there any other factors I am not considering?