Auto vs. Home Equity
Auto Loan
Purchase price (before tax):
Interest rate:
Fees:
Trade allowance:
Term in months:
Cash down:
Sales tax rate:
Amount owed on trade:
Auto price: $20,000
Taxes & fees: $1,304
Amount down: -$2,500
Loan total: $18,804
Home Equity Loan
Interest rate:
Federal tax rate:
Closing costs:
State tax rate:
Auto price: $20,000
Taxes & fees: $1,304
Closing costs: $0
Amount down: -$2,500
Loan total: $18,804
