---

McHenry Savings Bank is proud to offer several custom selected financial tools to help our customers with their financial needs.

Please note that these tools are provided as an estimate only. They are not binding or to be used as a replacement for true financial advisement. McHenry Savings Bank welcomes you to make an appointment to discuss any financial questions. Please call us at 815-385-3000.

 

Auto Loan Vs. Home Equity Loan Calculator
This calculator will help you to decide whether you should finance your car using an auto loan or using a home equity loan.
Purchase price of car ($):
Down payment amount ($):
Loan term (# of months):
Auto loan interest rate (%):
Home equity loan interest rate (%):
Home equity loan upfront costs ($ total of fees, points, etc.):
Your combined state and federal tax rate (%):
Your savings interest rate (%):
Results	Auto Loan	Home Equity Loan
Monthly payment:
Total interest cost:
Tax savings:
Net cost (interest cost less tax savings):

 

Click HERE to go back to our Tools List.