Archive for the ‘auto’ tag
Car Loan Calculator
Trying to calculate a car loan?
Can anyone tell me if there is an online calculator that will show me how much I save by pay ahead on my car loan? I want to know how much money I'll save and how quickly it will be paid. (Fixed April loans no prepayment penalty) Thanks for the links.
These are both good links: http://www.bankrate.com/brm/auto-loan-calculator.asp http://calculators.interest.com/content/calculators/monthly-payment.asp If it is a fixed payment, fixed rate without prepayment penalty, depreciation and monthly payments are calculated as a mortgage, so just enter your rate borrowed sum and additional payments and it should give you a good idea of how much you will save. I think if you have fixed payments, you reduce the amount of time it takes to pay your loan. If they are variable payments based on the outstanding amount, so you can actually reduce your future payments.