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[]
[null,"Auto Loan vs. Home Equity Loan Calculator"]
[null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IFERROR(IF(AutoTotalInterest<(EquityTotalInterest-IncomeTaxSavings),\"An auto loan could save you about \"&TEXT(EquityCostofLoan-AutoCostofLoan+ClosingCosts,\"$#,##0\")&\" over the term of your loan. This is after we included a potential tax savings of \"&TEXT(IncomeTaxSavings,\"$#,##0\")&\".\",\"A home equity loan could save you about \"&TEXT(AutoCostofLoan-EquityCostofLoan-ClosingCosts,\"$#,##0\")&\" over the term of your loan. This includes a potential tax savings of \"&TEXT(IncomeTaxSavings,\"$#,##0\")&\".\"),\"\")","v":"A home equity loan could save you about $,370 over the term of your loan. This includes a potential tax savings of $1,408."}]
[]
[]
[]
[null,null,"General Loan Information",null,null,null,null,"Auto Loan Information",null,null,null,null,"Home Equity Loan Information"]
[null,null,"Purchase price (before tax)",45000,null,null,null,"Interest rate",5.5E-2,null,null,null,"Interest Rate",4.4999999999999998E-2]
[null,null,"Cash down",2000,null,null,null,null,null,null,null,null,"Closing costs",2000]
[null,null,"Trade allowance",15000,null,null,null,"Auto Loan Details",null,null,null,null,"Your federal income tax rate",0.17]
[null,null,"Amount owed on trade-in",13000,null,null,null,null,null,null,null,null,"Your state income tax rate",0.09]
[null,null,"Term in months",60,null,null,null,"Monthly payment",{"$f":"IFERROR(ROUND(PMT(LoanInterestRate/12,Term,-AutoLoanAmount),2),\"\")","v":833.86},null,null,null,"Home Equity Loan Details"]
[null,null,"Sales tax rate",8.7499999999999994E-2,null,null,null,{"$f":"\"Total interest (\"&TEXT(LoanInterestRate,\"0.00%\")&\")\"","v":"Total interest (5.50%)"},{"$f":"IFERROR((AutoMonthlyPayment*Term)-AutoLoanAmount,\"\")","v":6376.5999999999985}]
[null,null,"Fees",30,null,null,null,"Potential Income tax savings",0,null,null,null,"Monthly payment",{"$f":"IFERROR(ROUND(PMT(EquityInterestRate/12,Term,-EquityLoanAmount),2),\"\")","v":851.15}]
[null,null,"Does your state deduct your trade-in value before calculating sales tax?","Yes",null,null,null,"Loan total",{"$f":"IFERROR((AutoMonthlyPayment*Term),\"\")","v":50031.6},null,null,null,{"$f":"\"Total Loan interest (\"&TEXT(EquityInterestRate,\"0.00%\")&\")\"","v":"Total Loan interest (4.50%)"},{"$f":"IFERROR((EquityMonthlyPayment*Term)-EquityLoanAmount,\"\")","v":5414}]
[null,null,null,null,null,null,null,"Cost of loan",{"$f":"AutoTotalInterest","v":6376.5999999999985},null,null,null,"Potential Income tax savings",{"$f":"IFERROR(EquityTotalInterest*(FederalTaxRate+StateTaxRate),\"\")","v":1407.64}]
[null,null,"General Loan Details",null,null,null,null,"Cost of Loan",null,null,null,null,"Loan total",{"$f":"IFERROR((EquityMonthlyPayment*Term),\"\")","v":51069}]
[null,null,null,null,null,null,null,null,null,null,null,null,"Cost of loan (includes tax savings)",{"$f":"IFERROR(EquityTotalInterest-IncomeTaxSavings,\"\")","v":4006.3599999999997}]
[null,null,"Purchase Amount",{"$f":"PurchasePrice","v":45000},null,null,null,{"$f":"AutoCostofLoan","v":6376.5999999999985},null,null,null,null,"Cost of Loan"]
[null,null,"Sales Tax",{"$f":"IF(SalesTaxDeduciton=\"Yes\",(PurchasePrice-TradeIn)*SalesTaxRate,AutoPurchaseAmount*SalesTaxRate)","v":2625}]
[null,null,{"$f":"IF(AND(SalesTaxDeduciton=\"Yes\",SalesTaxAmount>0),\"Sales tax based on \"&TEXT((PurchasePrice-TradeIn),\"$#,##0.00\")&\" (sales tax deduction for trade-in allowance)\",\"\")","v":"Sales tax based on $30,000.00 (sales tax deduction for trade-in allowance)"},null,null,null,null,null,null,null,null,null,{"$f":"EquityCostofLoan","v":4006.3599999999997}]
[]
[null,null,"Total down payment",{"$f":"CashDown+(TradeIn-TradeInOwed)","v":4000}]
[null,null,{"$f":"IF(TradeIn>0,\"Total down payment calculation includes \"&IF(TradeInOwed>0,TEXT(TradeIn-TradeInOwed,\"$#,##0.00\")&\" (\"&TEXT(TradeIn,\"$#,##0.00\")&\" trade-in amount minus \"&TEXT(TradeInOwed,\"$#,##0.00\")&\" outstanding loan balance)\",TEXT(TradeIn,\"$#,##0.00\")&\" trade-in amount\")&IF(CashDown>0,\" plus \"&TEXT(CashDown,\"$#,##0.00\")&\" cash down\",\"\"),IF(CashDown>0,\"Down payment calculation includes \" & TEXT(CashDown,\"$#,##0.00\") & \" cash down\",\"\"))","v":"Total down payment calculation includes $2,000.00 ($15,000.00 trade-in amount minus $13,000.00 outstanding loan balance) plus $2,000.00 cash down"}]
[]
[]
[null,null,"Auto loan amount",{"$f":"(AutoPurchaseAmount+SalesTaxAmount+LoanFees)-CashDown-(TradeIn-TradeInOwed)","v":43655}]
[null,null,{"$f":"IF(LoanFees>0,\"Includes \" &TEXT(LoanFees,\"$#,##0.00\") & \" for fees\",\"\")","v":"Includes $30.00 for fees"}]
[null,null,"Home equity loan amount",{"$f":"(AutoPurchaseAmount+SalesTaxAmount+LoanFees+ClosingCosts)-CashDown-(TradeIn-TradeInOwed)","v":45655}]
[null,null,{"$f":"IF(ClosingCosts>0,\"Includes \" &TEXT(LoanFees+ClosingCosts,\"$#,##0.00\") & \" for fees and closing costs\",\"\")","v":"Includes $2,030.00 for fees and closing costs"}]