How Much Money Will I Save In Interest If I Pay Off My Car Loan This Month?
Jul 17, 2008 by funinsun | Posted in Personal Finance
Thanks for your usurp. I can't find any online calculators to help me with this:
$ 7048.75 balance as of today
26 Payments remaining
$ 295.00 monthly payment
Loan operability date is 08/22/2010
8.44% Simple Interest
No penalty for early payoff
take 295.00 x 26 and deduct 7048.75 from that number - the difference is your savings
How Can I Calculate My Car Monthly Payment - At The Dealership?
May 27, 2008 by Carl G | Posted in Credit
Where can I find a amortization graph, or a formula for my calculator to take to the dealership if I have to use their financing (I have a 5 year old bankruptcy)
They will rip you when they start asking what you scantiness your monthly payment to be - for me it is the interest rate and amount of time for the loan. I need to be able to calculate this stuff based on interest rates they will give me - there at the dealership. so I wont have my computer to do calculations automatically.
Amount of the car, gist less your down payment.
Divide by terms, add interest, equals your monthly.
Example:
Principle + interest divide by loan term less down payment. You should be expert to come up with your minimum monthly payment. Ofcourse, the longer you have the loan the smaller your monthly is going to be.
How Do I Figure Out Monthly Car Payments For A Dream Car?
Nov 19, 2008 by JustOneLife | Posted in Mathematics
I have to notation about my dream car for my math class and I am having trouble figuring out hpw much the car payments would be. (I've tried prevailing to edmunds.com and using one of those car payment calculator and I still have no clue how it came with the car payment amounts. I really suck at math so undergo with me please). My dream car costs $23, 745.00 and my professor gave us a list of finacing options:
1.) Work in your current car for $5,000 and repay the balance by making monthly payments for four years at 3.9% compounded monthly.
2.) Makeno down payment, but have monthly payments for 5 years at 4.5% compounded monthly.
3.) For a 10% down payment and thenn add the tax (6%) to find the amount to be financed and then make monthly payments for 3 years at 3.3% compounded monthly.
I'm also having exert oneself figuring what formula (if any) that I should use. Simple Interest Formula = I=PRT, Compound Interest Formula= F
=P(1+ R/N)raised to NT, Amortized Loans Procedure: P=R(1-(1+ R/N)raised to a negative nt divided by r/n.
A=P(1+ R/N)raised to NT because the questions say "compounded"
Truck in your current car for $5,000 and repay the balance by making monthly payments for four years at 3.9% compounded monthly.
$23,745.00-5000
Amt financed= $18745
18745(1+.039/12)^12*4
18745(1.00325)^48
18745(1.16853)
*A=$21904.11
Create no down payment, but have monthly payments for 5 years at 4.5% compounded monthly.
A=P(1+ R/N)raised to NT
A=23745(1+.045/12)^12*5
23745(1.00375)^60
23745(1.2518)
*A=$29,723.89
Make a 10% down payment and thenn add the tax (6%) to find the amount to be financed and then follow monthly payments for 3 years at 3.3% compounded monthly.
=P(1+ R/N)raised to NT
P1=23745*.9
P1=21370.50
P=P1*1.06
P=22652.20
22652.20(1+.033/12)^12*3
22652(1.00275)^36
*A=$25005.91
Does anyone understand of a calculator that could help me? I have a car loan of 13,600 with a monthly payment of $315, I would like to increase it by $200/ month how much faster will that pay off my loan? FYI 7.5% interest, I am in year 2 of 6 in payment.
Thanks
With the way that car loans seem contrary to get recently. The web places are fast and sometimes easier to quailify sometimes.
Figuring Out Monthly Payments Using A Regular Calculator?
Dec 26, 2007 by foxresume | Posted in Personal Finance
Does anyone cognizant of how to figure out monthly payments by using a regular calculator. I know that there are ammortization calculators that i can use on the internet, but I extremity to do this while at a car dealership to make sure I'm not gonna get screwed. For example, how can i figure out the payments for a $10,000 loan at 6% interest over a 5 year term. How can I find the answer by using a regular calculator?
You would multiply $10,000 by 0.06, then multiply the spin-off by 5. That would be how much interest would be, $600. Now, add $10,000 with the $600, then divide $10,600 by 60 to have your monthly payments, (60 months in five years)
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take 295.00 x 26 and deduct 7048.75 from that number - the difference is your savings