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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 Lease Vs. Buy Calculator
To choose between a vehicle lease or loan, you'll need to compare your total costs over the term of the arrangement. This calculator will give you a rough estimate of the costs involved, as well as a comparison between "lost interest" costs related to your initial expenses. It will even calculate your estimated monthly lease payment and/or your monthly loan payment if necessary.

Start with Line 1 and work your way through the entry fields and then click on "Compute" to arrive at cost figures.

Description (A) Lease: (B) Loan: Instruct/Explain
1. Purchase price:
2. Sales tax rate:
3. Fees:
4. Cash Down payment:
5. Net Trade-in allowance:
6. Rebates:
7. Term (in months):
8. Interest rate (APR):
9. Monthly payment:
10. Security deposit:
11. Estimated resale value:
12. Annual savings rate:
13. Year #/% Deprec. 1 2 3 4 5 6 7 8 9 10
Description (A) Lease: (B) Loan: Instruct/Explain
14. Monthly payment:
15. Total of payments:
16. Total interest expense:
17. Net upfront expenses:
18. Depreciation expense:
19. Forgone Interest earnings:
20. Total cost:
21. Average cost per year:

 

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