Price vs Cost Calculator

Lately, I've been thinking about buying a new car, which probably means I'd get an auto loan. Since I started thinking about this, I have been trying to calculate exactly what the loan would cost me. Then I started to realize the "price" of the loan is drastically different than the "cost" of the loan.

I currently use EmigrantDirect.com as my savings account (4.00%). If I got a loan, I would have to withdraw from savings; the money I would spend towards the loan payments would no longer be going into my savings account, therefore no longer earning interest.

I began to wonder if the loss of interest be significant. That is why I created this "Price vs Cost" Calculator. This calculator will show you exactly what your loss will be if you chose to make payments towards a car instead of putting that money into your savings account.

Note: If you are buying a vehicle to include sales tax. If you're buying a home increase the loan rate to account for property taxes.