Auto Loan Calc Pay Off Auto Loan Or Pay It Off Via A 401k Loan?

Pay off auto loan or pay it off via a 401k loan? - auto loan calc

Hello to all

I have a balance of $ 19,000 in my CapitalOne auto loan interest of 6.25%. The beginning balance was $ 23,578.34.
I'm on 47 months of the loan over 60 months. I currently pay $ 459.06 per month. My question.

Would not it be better to borrow from my 4 years Savings Retirement Savings Plan (401k type plan for federal employees) in the interest of 3.625% for $ 426.00.00 per month?

I have some calculations with the TSP calculator: http://www.tsp.gov/calc/loan/calculate.html


Loan amount: 19,000-dollar Type: General Purpose Period: 4 years (e) Payment Frequency: monthly Interest Rate: 3.625 Amount due: $ 426.00 Number of Payments: 48 Total interest) (financial burden: $ 1448.00 Total cost of the loan (in full): $ 20,448.00


and I see no advantage. I thought I'd save more money.