Car Loan EMI Calculator India – Calculate Auto Loan Monthly Payments, calculate auto loan.#Calculate #auto #loan


EMI Calculator

Auto Loan EMI Calculator

Nowadays, owning a car is no longer seen as a luxurious commodity, rather it has become a necessity. If you have plans to purchase your dream car, it is not important to burn a hole in your pocket in the process. Instead, you can go for the option of having a car loan. The best part of having a car loan is that with the help of reasonable EMIs you get to pay back the loan.

Are you confused about the whole concept of EMI and the interest you have to pay? You don’t need to and let Car Loan EMI Calculator handle this. Read on, to know more about the EMI Calculator for a car loan and various other related things.

Car Loan EMI calculator

Calculate auto loan

What you should know about Car Loan Monthly Payment Calculator ?

An EMI loan calculator will help you out in making a right decision for the car model and the monthly budget. So, here are the key factors that you should know about this Loan EMI Calculator –

  • EMI calculator for Car Loan is one of the helpful tools that will make you familiar with the existing and the future monthly amount paid as installments. You can have a Car Loan EMI Calculator from the banks and financial entities.
  • While using an EMI Car loan Calculator, there is a need to enter certain details such as repayment term, loan amount, and the interest rate. With the help of this calculator, you can easily get familiar with the monthly installments and amortization schedule.
  • For using an EMI Calculator for auto Loan, you can enter the processing fee as well. The same fee also gets added to your loan amount to show the total expense incurred.
  • This Car Loans EMI Calculator online will also assist you with the amortization plan, interest outgo, and timeline of the loan repayment. Such information will make you aware of all the important information that helps you make smart decisions.
  • An EMI Calculator also comes handy in planning your monthly budget. This will really help in making the EMI more affordable.

Calculate auto loan

How Does Online Car Loan EMI Calculator work?

First and foremost, the compound interest on the principal loan amount at the set interest rate gets calculated by this EMI Calculator. The calculation is done as per the following rule – paying the interest part first, the total amount payable, and the part that outstanding of your EMI is the principal. EMI is computed using the following emi calculation formula –

Monthly Installment Amount = [P x R X (1 + R) ^ N] / [ (1 + R) ^N 1]

In the formula, P is the principal amount; N signifies the number of monthly installments, and R is the rate of interest every month. Let us assume the interest rate per annum at 12%, the interest rate each month will be 12/ (12 100).

How can you simplify your car loan with an EMI Calculator?

When you want to have the best information about making a right choice for a loan or about the repayments, this Calculator will do all the things for you. Following are some of the main things that get simplified when you use this Calculator for car loan.

  • Being intuitive and easy to use are its key elements. The main idea behind designing the calculator is to make your calculation task easier. All you need is to enter the values and use the sliders and you will have the instant projections on EMI and amortization schedule.
  • Using this Calculator is as simple as using a standard calculator. You don’t need to have special expertise to use this calculator.
  • With the help of the Calculator, you will have the amortization schedule and above all the breakup of the payable amount in a graphic format makes the things easier to understand and interpret.
  • You can use this Calculator number of times until the time you have the right combination of term, affordable EMI, and the principal.
  • With the help of a online EMI Calculator, you get to know which car loan will be beneficial for you. You get to compare the interest rates based on the prepayment penalty, interest rates, and processing fee to check its effects on the EMI.
  • You don’t have to pay anything and you will get your results instantly.

What are the benefits of using a car loan eligibility calculator?

This online Loan Calculator for determining car loan payments is a handy tool that will help you make smart loan decisions. Let us discuss the benefits of this Calculator –

Reiterate Calculations –

Using this EMI Calculator for Car Loan, you can keep on varying the values till the time you have the right EMI value that suits you best. Using this calculator, you can also experiment with the interest rates and term of the car loan; you also get to know all these elements can affect your EMI.

Immediate Results –

One of the best things is that you get instant results when you calculate your EMI using Car Loan Calculator. You can also use this calculator before taking a final decision on taking a car loan, when you are finally paying off your loan, and while you are making plans for car loan repayments.

Logical evaluation of car loans –

With the help of this EMI calculator, you can easily compare the best car loans on the basis of key elements like – interest rate and EMI. You may feel that the interest rates are all same but using Car Loan Calculator, you will get a better idea of the interest rates that can prove beneficial to you.

Accurate –

With the help of online Car Loan Calculator, you get to save your efforts on calculating complicated compound interest. If you are planning to do manual calculations, you are bound to make mistakes. If you enter all the details in a Car Loan EMI online calculator, your task gets done in minutes. Having an intuitive interface, the Calculator can be used by anyone.

How to qualify for a car loan?

Well, you don’t need to worry as the process of auto loan approval is simpler as compared to the house loan. For your bank and the lenders, your credit history and income really plays a pivotal role. Basically, they are interested in knowing whether you will be able to repay the loan amount or not. Following are the things that a lender or your bank will consider –

Credit Score –

Your bank and lenders will show more interest in knowing your status regarding your credit health and even want to know your history. They are usually looking for a credit score i.e. more than 750. Basically, it is the first step and on the basis of your credit score, they will move on to the next step.

But, if your score is below 750, your application will not be considered for the car loan. For lenders or your bank having a credit score below 750 is a clear signal that you are not capable of managing your credit responsibly. So, if you don’t want to face a rejection, make sure you have a healthy credit score.

Employment Profile –

Your bank and your lenders will also show interest in knowing your employment status i.e. whether you have a stable employment or not. This will ensure them whether you are in a position to repay the loan amount. They are not sure if you have s stable employment where you can easily make the EMI monthly payments for a car loan. They check whether you have worked with an employer for a minimum of one year when you apply for the car loan.

Credit Report –

Just like your credit score shows the status of your credit health, your credit report shows your credit behavior. Even your current score is healthy, your bank can cross-check your credit report to have a look at your past payment history.

Existing EMI payments –

If your existing EMI liabilities is forming a high percentage of your income, your bank will have an idea that you are not in a position to maintain additional debt payments. If your total monthly EMI is over 50%-60% of your income, your lender will get skeptical about repaying the additional car loan. You have more chances of your loan application getting rejected.

Therefore, when you have decided to apply for the car loan, ensure that your EMI outflow is not more than your income percentage. Just in case it is high, make sure you pay off the smaller loans in order to bring down your overall EMI. This will help in freeing up some part of your income so that you can repay your car loan.

Besides Car Loan EMI Calculator, you also have easy access to various other EMI calculators like Home Loan EMI Calculator, Bike Loan EMI Calculator, and Personal Loan EMI Calculator.


How to Calculate a Car Loan Payment #auto #mall


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How to Calculate a Car Loan Payment

Factors you need to know about the car and the loan terms:

  • Overall Car Costs: A lot of different things need to be figured into your final financing costs. Include taxes, titling fees, warranties, and prior car roll over amounts. Subtract rebates, down payment, and trade-in value of your prior vehicle. Once you include all the numbers that is the final amount you are actually financing.
  • Loan Terms : You will need to know the interest rate in which you qualify for and the length of the loan. Determine the length of your loan by months. Car loans are commonly 36, 48, 60, and sometimes even 72 months long.

If you are really dying for a math lesson, oakroadsystems.com gives you the math formula and walks you through the loan payment calculation. The equation uses basic algebra and is not rocket science, however it is fairly far beyond basic multiplication and division. It can be satisfying to figure your loan payments out yourself mathematically, but for convenience and speed it is not recommended.

Skip the hassle of math formulas and get to your payment amount faster by using a good car loan payment calculator.

Continue Reading Below

Save lots of time by plugging in your basic information listed above. A calculator makes it easy to input different combinations of numbers. It allows you to do side by side comparisons of different loan interest rates and car costs.

Some loan calculators allow you to check how increasing your monthly payment affects how fast you can pay your loan off. It is these variables that can be very interesting and help you reduce your debt. Technically you can use car loan payment calculators on any of your loans. As long as you know your loan factors the calculator will work.

Analyze the Information:

Once you know what your car loan payment will be, use the information wisely. Check around for a lower interest rate or try to do what you can to reduce the length of your loan. It is never a good idea to obtain a car loan based on the monthly payment alone. Lenders or car salesmen can extend your loan to reduce your payment but you pay a lot more overall. A lot of times extending a loan can cause you to owe more than the vehicle is worth. If this is your only option, be sure to check into gap insurance .

Making educated decisions about your finances will keep your finances in good health. Having a good idea what a new car is going to set you back monthly can prevent surprises at the time you sign the official documents. Review your budget and feel good knowing you are making an educated purchase.


How Do I Calculate APR on an Auto Loan? #peters #auto #mall


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How Do I Calculate APR on an Auto Loan?

There is nothing like buying a new car. That new car smell, the safety features and the process of calculating the APR on your auto loan it s definitely a memorable experience. APR stands for annual percentage rate and is the basic counterpart to the interest rate that the borrower needs to pay on a loan. When trying to calculate APR on an auto loan, APR helps to compare rates offered to the consumer across the board.

The best way to calculate APR on an auto loan is to use an online rate calculator, which are numerous and can be found throughout the internet. You can even find one that will calculate your auto loan amortization .

Since use this auto loan calculator to help determine the APR, the use the time saved calculating those numbers to research your credit score to ensure a good APR offer, or comparing auto loans to find the best offer based on your history and thoroughly researching the car you intend to purchase. With all this knowledge at hand, you will have all the skills needed to get the best car purchase deal possible.


Use Our Auto Insurance Calculator To Calculate Your Insurance Rates #advance #auto #zone


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Calculate Your Auto Insurance Rates

Automobile Insurance Calculators: How To Use Them and Why They re Important

Shopping for auto insurance, as little as 10 years ago, used to be quite a fiasco. Finding appropriate coverage at a price you could afford certainly wasn t as easy as it is today. Not only do we now have access to a seemingly endless library of information on the subject, but there s also a variety online tools that make it easy to pinpoint the best deals on car insurance. Automobile insurance calculation programs, like the one on 4AutoInsuranceQuote.com, are one such tool.

What is a car insurance calculator?

The best way to explain how these babies work is to show you firsthand. Right at the top of this page is a tool you can use to calculate your insurance costs and to compare insurance quotes. You can try it out right now if you d like, and it only takes a few minutes. However if you aren t that adventurous, let me explain further, before you give it a test run.

Automobile insurance calculators are used to help consumers, like you, determine how much auto coverage you need. and what features are most appropriate for you. Better yet, you ll be connected with multiple car insurance providers, offering their most competitive rates.

How Do They Work?

Insurance calculators were designed with simplicity and ease of use in mind so that everyone could use them. Within moments you ll end up a handful of highly qualified insurance providers to choose from, but first you need to tell the calculator what to look for.

Calculate Your Car Insurance Online in 3 Easy Steps:

1.Fill Out Our Short Form You ll then be asked to provide some very basic details about yourself, and it starts by entering your zip code above (five digits in the United States). This information will be used to determine state insurance requirements. and to match you with auto insurance companies, but local and national.

2.Compare Quotes – The insurance tool begins by creating an auto coverage package that fits your unique style and needs. With the best of the best to choose from, making a decision on auto insurance is stress-free.  After all, you can t go wrong if every insurance company you are comparing is both affordable and reputable!

3.Start Saving – You ll finally be presented with a handful of quotes. Special discounts, special features, and other savings will automatically figured into the price. With our car insurance calculator, it isn t unusual for drivers to save 30% or more on their auto insurance premiums.  You just have to test it out!

As you can see, insurance calculators are much faster than the traditional way of buying auto coverage. Calling multiple insurance companies, just to wait on hold, or visiting many local insurance offices, which could take days, are things of the past. When car insurance companies have no choice but to offer you their best rates, you will save a lot of money.

Additional Resources:

  • The Hartford their coverage guide can help determine the right auto insurance coverage for you
  • Yahoo Determine an insurance coverage level that is right for you.
  • Liberty Mutual  Consider these factors when choosing coverages and policy limits.

Related Articles:

  • How To Compare Auto Insurance Quotes You now know how easy it is to get a handful of auto insurance quotes in a matter of minutes, but how
  • Auto Insurance for Senior Citizens As we get older, and start nearing our golden years, the need, desire, and ability to drive a car often times begins
  • How To Switch Auto Insurance Companies Switching insurance companies is something that we all have to do at some point in our lives. Whenever your insurance policy is
  • Budget Auto Insurance Finding the money to pay for auto insurance isn’t always easy, and let’s be honest, there are countless other things you’d rather
  • Auto Insurance Company Ratings There are countless auto insurance companies to choose from. So how do you know which auto insurance company is best to sign

Calculate Your Car Loan Payments Before You Decide on a Car #national #auto #rental


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Calculate Your Car Loan Payments Before You Decide on a Car

If you’re in the market for a new car (or even a used car that you can’t afford to buy with cash), you’re probably also in the market for a car loan. While car loans are usually much smaller than mortgages and home equity loans, the auto loan payments can still take a decent-sized bite out of your monthly household budget.

You therefore need to do your research in order to find the most affordable car loan with the most desirable payment terms. As part of that research, you’ll want to estimate what your monthly payments will be for various loan amounts at different interest rates.

Regardless of where the financing for your automobile purchase ultimately comes from, your credit scores will factor heavily into the interest rate you pay on your car loan. Much like mortgage brokers, car dealers need to ensure that loan applicants are ready, willing, and able to pay off a line of credit, so if you want to get financing through a car dealer, their loan department is going to run a credit check on you. That means checking out your credit reports and scores from at least one of the three major credit bureaus.

Car dealers find themselves in an interesting spot these days. They need to sell cars to stay in business, but their customers typically require loans to afford car purchases, and the consumer credit industry is still much tighter than it was before the Great Recession occurred.

Because of this dynamic, car dealers may be more willing to provide financing to consumers with poor credit scores than banks might be, but the basic lenders’ rule-of-thumb still applies: The lower your credit score is, the higher your interest rate will be and the bigger your monthly auto loan payments will be.

(Keep in mind that there’s another dynamic at play when you take out a loan of any kind. Your record of making, missing, or remitting late payments on that loan will appear on your credit report and factor into your credit score. Missed or delinquent auto loan payments can quickly drag down your credit score, which can affect your ability to renegotiate your car loan or acquire another line of credit.)

There are, of course, factors beyond your credit scores that help determine the ultimate amount of your monthly auto loan payments, including:

  • Dealer or manufacturer rebates. Rebates are usually offered at the end of a model year, when car dealers and carmakers try to reduce their inventory of unsold cars.
  • Trade-in allowances. Car dealers generally put a cap on how much they’re willing to reduce the selling price of a car when you trade in your current vehicle.
  • Your outstanding trade-in balance. If you’re trading in a car to the dealership where you originally bought it, and you still owe money on that car, the dealer will factor that amount into your loan application.
  • The size of your down payment. Obviously, the more money you put down upfront, the less you’ll need to borrow. Smaller car loans often mean better loan terms, because the lender’s risk is reduced.
  • Gap insurance. Gap insurance is typically required when a buyer offers little or nothing in the way of a down payment, especially if the buyer has poor credit. This insurance also protects the buyer, though; if your newly-bought car is totaled due to an accident, flood, or other calamity, you won’t be on the hook for the outstanding auto loan payments. If you finance through a dealership, any required gap insurance premiums are typically included in your monthly payments.
  • The loan term. Auto loans typically require full repayment within three to five years.
  • Your interest rate. As noted earlier, your credit scores will be used to determine the general range of your interest rate, but the factors listed above will also play a role.
  • Regardless of where you finance your car purchase, negotiating a car loan and determining your auto loan payments can be a complicated undertaking. Before you choose your next car, much less apply for a car loan, you should make every effort to estimate your auto payments as accurately as possible to help you determine how much you can afford to spend on your car purchase.

    FreeScore ‘s Auto Loan Calculator below can help you estimate your monthly auto loan payments. Through the calculator, you can enter any and all of the applicable information listed above to figure out how much you’ll end up paying for a car loan, including the total amount of interest you’ll pay over the life of the loan.


    Knowledge Base #determine #number #of #learners #who #have #completed #different #stages #of #multiple #online #courses,array #formula,blank,calculate,calculatetable,countif,distinctcount,filter,frequency,hasconevalue,if,match,max,min,row,sumproduct,vlookup,iferror,index,small,cubemember,cuberankedmember,cubeset,cubevalue,topcount.,generate #a #list #of #assignees #for #different #projects #based #on #a #competency #matrix,address,indirect,sum #the #largest #5 #of #the #last #10 #numbers #in #a #row #ignoring #blanks,column,offset,subtotal,sum,cortana,sand #dance,powerbi.com,powerbi #desktop,natural #language #queries,convert #a #text #entry #into #its #number #equivalent,len,lookup,mid,rept,text,compute #an #average #for #the #same #day #in #the #past #3 #years,averagex,countax,earlier,format,year,visualising #data #flows #using #custom #visuals,summarise,union,sales #data #modelling #and #interactive #visualisations #of #an #e-commerce #company


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    The firm may or may not have glass sheets of this specific size. The objective is to identify glass sheets, from the inventory on hand, which match customer specifications. If there is no exact match, then one must be able to obtain all inventory items which have the same Thk (MM) and CAT as the customer specified dimensions but the Length and thickness should be more than equal to the customer specified dimensions. The length and width can then be trimmed to match the exact customer dimensions. Furthermore, the result returned should:

    1. List only the Top 30 glass sheets available in inventory; and
    2. List those Top 30 glass sheets in ascending order of wastage (wastage caused when the glass sheet is trimmed to match the customer specified dimensions)

    You may refer to my solution in this workbook. I have shared two solutions – one using Excel formulas and the other using Power Query a.k.a. Get and Transform in Excel 2016. Please read the Comments in cells F1, J9 and J16 of the “Solutions” worksheet. The difference between the 2 solutions is:

    1. Formula driven solution This is in range J10:AM14 of the Solutions worksheet. This is a semi dynamic solution (as compared to the Power Query solution). To get the models in ascending order of wastage, one will have to create an Area column in the base data and sort that column in ascending order.
    2. Power Query solution – This is in range J17:AM21 of the Solutions worksheet. This is a dynamic solution. Just change the customer specified dimensions in range G2:J2 of the Data and Query worksheet. Thereafter just right click on any cell in the range below and select refresh.

    Posted by Ashish Mathur on November 2, 2016

    Here is a simple four column dataset

    A simple Pivot Table (with a slicer) created from this dataset looks like this

    The objective is to determine the Top 3 users of each week for each slicer selection. Unfortunately, there is no way to sort multiple columns of a Pivot Table all at once. Once may either sort by the Grand Total column or by the individual week wise columns. Since we do not want to sort by the Grand Total column, the only way out is to sort the individual week wise columns. The expected result should look like this:

    I have solved this problem by using CUBE formulas. You may refer to my solution in this workbook .

    Posted by Ashish Mathur on September 20, 2016

    Here is a small sample of a Project matrix which shows tasks to be accomplished for various projects. There can only be upto 6 tasks per project.

    From these two tables, one may want to generate another table showing which employees can be assigned to which project (only those employees should be assigned to a project who can complete all tasks). So the ideal solution is to create another column (8th column) in the Project matrix table above which should have a drop down (Data Data Validation) for every project showing which employees are competent for that project.

    Here’s an illustration :

    Assuming that the Project matrix is in range A1:G4 (headers are in row 1)

    1. In cell H2 (for Project1), the drop down should show Jane, Lynda, Paddy and Tom. Mary should not appear there because she cannot perform one of the 3 tasks required to complete the project i.e. Gardener.
    2. In cell H3 (for Project2), the drop down should show Lynda, Paddy and Tom. Jane and Mary should not appear there because they cannot perform the Digging and Engineering tasks respectively.

    The solution is dynamic for the following:

    1. Projects added to the Project matrix Table; and
    2. Tasks added (upto 6 only) or edited in the Project matric Table; and
    3. Employees added to the Competency matrix Table; and
    4. Tasks added to the Competency matrix Table

    I have solved this problem by using:

    1. Power Query; and
    2. Formulas in Data Data Validation.

    You may download my solution workbook from here or here .

    The objective is to generate the numeric code for text code of any length entered in a certain cell. For example, a user will type a certain text code, say ABEJ and the expected result should be 1250. For JABF, the result should be 0126. The text entry and text length are both user determined.

    With ABEJ, typed in cell D2, enter this array formula in cell E2

    This formula can now be copied down for generating the numeric code for all text codes entered in column D.

    Posted by Ashish Mathur on January 28, 2016

    Assume a simple two column dataset with dates in column A and numbers in column B. The dates in column A are from January 1, 2013 to December 31, 2016 and numbers in column B are for the period January 1, 2013 to December 31, 2015 (there are no numbers for January 1, 2016 to December 31, 2016).

    The objective is to “Compute an average for each day of calendar year 2016. The average should be for the occurrence of that day in the previous 3 years”. Here’s an example:

    1. January 1, 2016 was a Friday (the first Friday of 2016) and is in cell A1097
    2. In cell B1097, the average should be computed as: Average of the “First Friday of each of the previous 3 years”
    3. January 8, 2016 was a Friday (the second Friday of 2016) and is in cell A1104
    4. In cell B1104, the average should be computed as: Average of the “Second Friday of each of the previous 3 years”

    I have solved this problem with the help of the PowerPivot. You may refer to my solution in this workbook .

    Posted by Ashish Mathur on January 17, 2016

    Given this dataset, one may want answers to the following questions:

    1. Of all those passengers who originated their journey (City of Origin) from Chandigarh, how many terminated their journey (City of destination) in New Delhi via different modes of transport; and
    2. Of all those passengers who terminated their journey (City of destination) in Jammu, how many arrived in Amritsar (City of Origin) via different modes of transport; and
    3. Of all those passengers who travelled by Bus, how many travelled from City A (City of Origin) to City X,Y,Z (City of destination)

    While one can analyse/slice and dice this data using Pivot Tables, one cannot visualize this data very clearly (even after creating a Pivot chart). I have attempted to visualize this data using a software called PowerBI desktop (a free for download and use Business Intelligence software from Microsoft which rolls all of Excel’s BI tools into 1 – PowerPivot, Power Query, Power Map and Power View).

    You may download the source Excel workbook and the Power BI desktop workbook from this link .

    You may also watch a short video here:

    Posted by Ashish Mathur on November 13, 2015

    In this workbook. I have Sales data of an E-Commerce Company for 3 months. The typical columns in the base data are:

    1. Order Date/Time
    2. City to which orders were shipped
    3. Order Number
    4. Payment Type i.e. Cash on delivery, Net Banking, EMI’s
    5. Order Status i.e. Delivered or cancelled
    6. SKU’s which the ordered items fall into
    7. Products which the ordered SKU’s fall into
    8. Categories which the ordered products fall into

    Given this simple tabular representation, one may want to analyse and visualize this dataset from multiple perspectives based on user selections, such as

    “What was the revenue earned from the Top 5products in the A100 category in April for orders shipped to New Delhi ?”

    In this query framed above, the end user should have the leeway to select any/all of the underlined facets. So one can either choose revenue earned or Number of orders. Likewise, one can either select Top 5 products or Top 15 products/Top 5 SKU’s etc.

    With relative ease, one should also be able to “Perform an affiliate analysis” showing which categories are ordered together (to study affiliations). Please review this post for an independent discussion on “Affinity Analysis”.

    Furthermore, one should be able to perform a free form timeline search such as – “I would like to study growth in Total revenue of March 2-8 2015 over Feb 1-4 2015”

    You may download the workbook from the link shared above.

    You may watch similar videos showcasing the capabilities of Business Intelligence in MS Excel:

    Here’s a video showing the capabilities of this Sales data model

    You may also watch this short video to see how I visualized the revenue flow from Categories to Shipping cities during different Order periods using Custom visuals available in PowerBI desktop.

    Please feel free to download the PowerBI desktop workbook of the video shown above from here .

    For a detailed overview of Sankey diagrams (a Custom visual available in PowerBI desktop), you may refer to my Blog article here .

    Another great Custom visual (Sand Dance) which allows data discovery has been shown at this link. At that link, you will also be able to see how I queried the underlying dataset using “Natural Language”.


    Mortgage Calculator #calculate #mortgage #points


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    The above tool estimates monthly mortgage payments with taxes, insurance, PMI, HOA fees more.

    Click on the “define” “more” tabs for a description of each input how they are used in calculations. Set an input to zero to remove it from the calculation.

    Home Value: the appraised value of a home. This is used in part to determine if property mortgage insurance (PMI) is needed.

    Loan Amount: the amount a borrower is borrowing against the home. If the loan amount is above 80% of the appraisal then PMI is required until the loan is paid off enough to where the Loan-to-value (LTV) is below 80%.

    Interest Rate: this is the quoted APR a bank charges the borrower. In some cases a borrower may want to pay points to lower the effective interest rate. In general discount points are a better value if the borrower intends to live in the home for an extended period of time they expect interest rates to rise. If the buyer believes interest rates will fall or plans on moving in a few years then points are a less compelling option. This calculator can help home buyers figure out if it makes sense to buy points to lower their rate of interest. For your convenience we also publish current local mortgage rates .

    Loan Term: the number of years the loan is scheduled to be paid over. The 30-year fixed-rate loan is the most common term in the United States, but as the economy has went through more frequent booms busts this century it can make sense to purchase a smaller home with a 15-year mortgage. If a home buyer opts for a 30-year loan, most of their early payments will go toward interest on the loan. Extra payments applied directly to the principal early in the loan term can save many years off the life of the loan.

    Property Tax: this is the local rate home owners are charged to pay for various municipal expenses. Those who rent ultimately pay this expense as part of their rent as it is reflected in their rental price. One can’t simply look at the old property taxe payment on a home to determine what they will be on a forward basis, as the assessed value of the home the effective rate may chage over time. Real estate portals like Zillow, Trulia, Realtor.com, Redfin, Homes.com Movoto list current historical property tax payments on many properties.

    PMI: Property mortgage insurance policies insure the lender gets paid if the borrower does not repay the loan. PMI is only required on conventional mortgages if they have a Loan-to-value (LTV) above 80%. Some home buyers take out a second mortgage to use as part of their downpayment on the first loan to help bypass PMI requirements. FHA VA loans have different down payment loan insurance requirements which are reflected in their monthly payments.

    Homeowners insurance: most homeowner policies cover things like loss of use, personal property within the home, dwelling structural damage liability. Typically earthquakes floods are excluded due to the geographic concentration of damage which would often bankrupt local insurance providers. Historically flood insurance has been heavily subsidized by the United States federal government, however in the recent home price recovery some low lying areas in Florida have not recovered as quickly as the rest of the market due in part to dramatically increasing flood insurance premiums.

    HOA: home owner’s association dues are common in condos other shared-property communities. They cover routine maintenance of the building along with structural issues. Be aware that depending on build quality HOA fees can rise significantly 10 to 15 years after a structure is built, as any issues with build quality begin to emerge.

    Our site also publishes an in-depth glossary of industry-related terms here .

    Charting: By default the desktop version of this calculator displays an amortization chart along with the ability to view a payment breakdown donut chart. These features are turned off by default on the mobile version to save screen space.

    Amortization Tables: Clicking on the “show amortization tables” link reveals options to display monthy or yearly amortization tables to compare monthly versus biweekly payments. By default our calculations set bi-weekly payments to half of the monthly payment. Since there are 52 weeks in a year that means there are 26 biweekly pay periods, which means this payment strategy would be equivalent to paying a 13th monthly payment each year, which can help buyers save $10,000’s years of loan payments.

    Sharing Saving Calculations: If you want to send a calculation to a spouse, client, or even send an email or text message to yourself there are buttons to “share this calculation a “printer friendly version” which can be used to share a loan scenario or create a page with a white background which makes it easy to print out an amortization chart.

    Fixed vs Adjustable Mortgages: In most countries home loans are variable (also known as adjustable), which means the interest rate can change over time. The ability for United States homebuyers to obtain a fixed rate for 30 years is rather unique. Interest rates are near a cyclical, long-term historical low. That makes a fixed-rate mortgage more appealing than an adjustable-rate loan for most home buyers. ARMs can reset to a higher rate of interest over the course of the loan cause once affordable loans to become prohibitively expensive. What’s worse is when interest rates spike home prices also fall, which makes it harder to sell a home anyone refinancing their purchase will also be forced to refinance at a higher rate.

    Comparing Loan Scenarios:This calculator makes it easy to compare loan scenarios, while this calculator shows what would happen if a buyer made extra payments. Another way to estimate the impact of extra payments is to use the calculator on this page generate an amortization table for a shorter term like 22 years instead of 30; then make the asosciated payments to pay off a 30-year loan faster. If you would struggle to force yourself to make additional payments then an alternative solution is to go with a 15-year loan to require the higher payment which will pay off the home quickly.


    How to Calculate a Car Loan Payment #auto #part #store


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    How to Calculate a Car Loan Payment

    Factors you need to know about the car and the loan terms:

    • Overall Car Costs: A lot of different things need to be figured into your final financing costs. Include taxes, titling fees, warranties, and prior car roll over amounts. Subtract rebates, down payment, and trade-in value of your prior vehicle. Once you include all the numbers that is the final amount you are actually financing.
    • Loan Terms : You will need to know the interest rate in which you qualify for and the length of the loan. Determine the length of your loan by months. Car loans are commonly 36, 48, 60, and sometimes even 72 months long.

    If you are really dying for a math lesson, oakroadsystems.com gives you the math formula and walks you through the loan payment calculation. The equation uses basic algebra and is not rocket science, however it is fairly far beyond basic multiplication and division. It can be satisfying to figure your loan payments out yourself mathematically, but for convenience and speed it is not recommended.

    Skip the hassle of math formulas and get to your payment amount faster by using a good car loan payment calculator.

    Continue Reading Below

    Save lots of time by plugging in your basic information listed above. A calculator makes it easy to input different combinations of numbers. It allows you to do side by side comparisons of different loan interest rates and car costs.

    Some loan calculators allow you to check how increasing your monthly payment affects how fast you can pay your loan off. It is these variables that can be very interesting and help you reduce your debt. Technically you can use car loan payment calculators on any of your loans. As long as you know your loan factors the calculator will work.

    Analyze the Information:

    Once you know what your car loan payment will be, use the information wisely. Check around for a lower interest rate or try to do what you can to reduce the length of your loan. It is never a good idea to obtain a car loan based on the monthly payment alone. Lenders or car salesmen can extend your loan to reduce your payment but you pay a lot more overall. A lot of times extending a loan can cause you to owe more than the vehicle is worth. If this is your only option, be sure to check into gap insurance .

    Making educated decisions about your finances will keep your finances in good health. Having a good idea what a new car is going to set you back monthly can prevent surprises at the time you sign the official documents. Review your budget and feel good knowing you are making an educated purchase.


    Calculate auto loan #advanced #auto


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    What is a Loan to Value and How to Calculate LTV Regarding Auto Financing.

    In the automotive world, what is Loan to Value (LTV)?

    In the automotive world, Loan to Value (LTV) is the amount financed for a car loan divided by the current value of the vehicle. For new cars the value is typically the invoice amount. For used cars, the trade of wholesale value is typically used in order to determine the value of a vehicle so as to not overstate the expected sale or trade-in value.

    A lower LTV ratio means that the car is worth more than the financed amount. The lower the ratio the more appealing it is to a lender. Many lenders have LTV limits which is why this calculation becomes important for someone purchasing a car. The exact value is determed by the lending institution.

    Loan to Value (LTV) = Amount Financed/Vehicle Value.

    LTV is equal to 1 when the financed amount is equal to the automobile’s value. If a vehicle is 100% financed (meaning no down payment) then the LTV will most likely be greater than 1. The value of a new vehicle is the invoice price but not including fees. The loan would then include these fees such as tax, title, and license. For example a car with a $25000 out the door price may only be worth $20,000 for trade which would result in a loan to value ration of 125%.

    This process is essentially the same for calculating the LTV of a mortgage. Simply substitue the outstanding mortage balance with and the current value of the home to arrive at the LTV of a home loan. To get the value of the home you can have it appraised, which will cost money, or do a rough estimate by comparing with other similar houses in the area.


    How to Calculate an Auto Loan #auto #kaufen


    #calculate auto loan
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    Things You’ll Need

    Visit Bankrate’s website to use their auto loan calculator. This is a very popular and resourceful tool found on many sites and used by many people when in the process of shopping for a new auto. It can make understanding all the numbers and figures a whole lot easier for you (see Resources below).

    If you already know the loan amount, you can enter it in the first box. Even if you aren’t completely sure of the amount, use a reasonable ballpark amount to give you an idea.

    Enter the term of the loan. This could be a monthly term or a yearly term up to 10 years or more. Many people will choose the shortest term they can afford, but you can always re-finance later down the road to lower your payments. If you want, enter a few different term lengths so you can compare the final outcome.

    Enter the interest rate. Your interest rate will normally depend on your credit rating. If you are worried about the rating you might qualify for, you should consider checking your credit rating by obtaining a credit report. You are entitled to a free report every year from major companies like Experian and TransUnion. You might be able to clean it up before applying for a loan so you can get a lower interest rate (see Resources below).

    Once you enter the required information in the correct fields, click on “Show/Recalculate Amortization Table” to see your monthly payment. You can also add any additional or extra payments below the calculator.