Grove Money
What a car payment really costs
A six-year loan at $550 a month has a sticker price everyone knows. This is the other number: what those payments would have been worth had they compounded instead.
$35,753
Over 6 years, in today's money — and invested instead it would grow to $40,549.
Based on 8% growth while saving, easing to 5%, and 3% inflation, from age 35 to retirement at 65.
Try it with your own numbers →These ages are an assumption, not your numbers: 35 today, retiring at 65, planning through 90. Change them in the calculator.