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Auto Loan Calculator, loan payoff calculator.#Loan #payoff #calculator


Auto Loan Calculator

Loan payoff calculator

$372.86 / Month

The Auto Loan Calculator considers the most vital factors in order to calculate auto loan information. It assumes that the full purchase price is accounted for whether as down payment or part of the loan, along with any fees involved. If only the monthly payment for any auto loan is given, use the Monthly Payments tab (reverse auto loan) to calculate the actual vehicle purchase price and other auto loan information.

Important: Tax and fee procedures apply to car purchases within the US only. Foreigners may still use the calculator, but please adjust accordingly.

There are different definitions for different prices when it comes to car buying such as MSRP (manufacturer’s suggested retail price), selling price, blue book price, and dealer price. For any recently purchased or sold car, input the final selling price as the “Auto Price” figure. For hypothetical loans involving cars not being bought or sold, use blue book prices to arrive at close estimates for the values of the cars.

Purchases of cars usually come with costs other than the purchase price. Car buyers with low credit scores might be forced to pay the hefty fees upfront. The following is a list of common fees associated with car purchases in the US.

  • Sales Tax Most states in the US collect sales tax for auto purchases.
  • Document Fees This is a fee collected by the dealer for processing documents like title and registration. Typically, they run between $150 and $300.
  • Title and Registration Fees This is the fee collected by states for vehicle title and registration. Most states charge less than $300 for title and registration.
  • Advertising Fees This is a fee that the regional dealer pays for promoting the manufacturer’s automobile in the dealer’s area. If not charged separately, advertising fees are included in the auto price. A typical price tag for this fee is a few hundred dollars.
  • Destination Fee This is a fee that covers the shipment of the vehicle from the plant to the dealer’s office. This fee is usually between $600 and $1,000.
  • Insurance In the US, auto insurance is strictly mandatory to be regarded as a legal driver on public roads and is usually required before dealers can process paperwork. When a car is purchased via loan and not cash, full coverage insurance is mandatory. Auto insurance can possibly run more than $1,000 a year for full coverage. Most auto dealers can provide short-term (1 or 2 months) insurance for paper work processing so new car owners can deal with proper insurance later.

Important: If the fees are bundled into the auto loan, remember to check the box ‘Include All Fees in Loan’. If they are paid upfront instead, leave it unchecked.

Quick Tip 1: Should an auto dealer package any mysterious special charges into a car purchase, please demand justification and thorough explanations for their inclusion. This is not to say that well-intentioned car salesmen don’t exist, but there is a reason why this particular group of people get a bad rap as some of the most untrustworthy and scheming around. After all, their mission is to squeeze as much profit out of a potential car selling scenario as possible.

Auto Loans

Many people cannot afford to purchase cars with straight cash, so they turn to auto loans instead. They work as any generic, secured loan from a financial institution does with a typical term of 36 or 60 months. Each month, repayment of principal and interest must be paid to auto loan lenders from borrowers, excluding other mandatory fees and taxes (unless they have been intentionally included into the loan). Money borrowed from a lender that isn’t paid back can legally entitle a car to being repossessed.

Direct Lending vs. Dealership Financing

There are two financing options available: direct lending or dealership financing. With the former, it comes in the form of a typical loan originating from a bank, credit union, or financial institution. Getting pre-approved through a credit union is usually the best option and offers the lowest rates, especially for lifelong, good standing members.

Quick Tip 2: To aid ability to negotiate the best deals, take steps towards achieving healthier credit scores before taking out large loans for car purchases. Free annual credit reports can be requested from one of the three credit agencies: Equifax, Experian, and TransUnion.

Once a contract has been entered with a car dealer to buy a vehicle, the loan is used from the direct lender to pay for it. Dealership financing is somewhat similar except that the paperwork is done through them instead. The contract is retained by the dealer, but is sold to a bank or other financial institution called an assignee that ultimately services the loan.

Quick Tip 3: Direct lending usually offers more flexibility because there is competition between involved lenders to offer the best interest rates to the borrower, and rates tend to be better. It also provides more leverage for someone to walk into a car dealer with most of the financing done on their terms, as it places further stress on the car dealer to compete with a better rate. Getting pre-approved doesn’t tie car buyers down to any one dealership, and their propensity to simply walk away is much higher. With dealer financing, the potential car buyer has fewer choices, though it’s there for convenience for anyone who doesn’t want to waste time shopping around.

Quick Tip 4: It can be helpful for prospective car buyers to determine how much they can afford to spend on a car and what types of cars are within their budget before actually heading to a dealership. Knowing what kind of vehicle is desired will make it easier to research and find the best deals that suits a buyer’s needs. Once a particular make and model is chosen, it can be important to have some typical going rates in mind to enable effective negotiations with a car dealer. Car dealers, like many businesses, want to make as much money as possible from a sale, but often, given enough negotiation, are willing to sell a car for significantly less than the price they initially offer. Depending on whether a buyer chooses to pay for the vehicle with monthly payments, the “Monthly Payment” tab of our Auto Loan Calculator can be used to calculate the “true” cost of the car. A monthly payment option often ends up being more expensive than buying the car outright. However, if buying the car outright is not an option, it is up to the buyer’s discretion to determine whether the need for a car sooner justifies the additional cost of making monthly payments rather than saving until a later date to avoid said monthly payments. Furthermore, although the allure of a new car is understandable, buying a pre-owned car even if only a few years removed from new can usually result in significant savings, and is an option that prospective car buyers can consider.

Trade-in Value

Don’t expect too much value when trading in old cars to dealerships as credit towards newer car purchases; exchange rates tend to float somewhere akin to auction house levels, way below blue book values. Selling old cars privately beforehand and using the funds for future car purchases tends to result in a more financially-desirable outcome. However, convenience is important for many people and they choose to simply trade them in to dealerships during new car purchases.

Within the states that collect sales tax on auto purchases, most of them collect based on the difference between the new car and trade-in price. For a $25,000 new car purchase with a $10,000 valued trade-in, the tax paid on the new purchase with an 8% tax rate is:

$25,000 – $10,000 = $15,000 8% = $1,200

This is the default method by which the Auto Loan Calculator will calculate sales tax in accordance with Trade-in Value. However, some states do not offer any sales tax reduction with trade-ins, and they are:

Using the same example above, whereas if the new car was purchased in one of the places above without a sales tax reduction for trade-ins, the sales tax would be:

This comes out to be an $800 difference, enticing more people in these places to sell cars to private parties instead.

Vehicle Rebates

Dealers may offer vehicle rebates to further incentivize buyers. When car manufacturers are pressured into getting rid of cars at lower profit margins, it can be inferred that they probably use rebates as a means of doing so.

Depending on the state, they may or may not be taxed accordingly. For example, purchasing a vehicle at $30,000 with a cash rebate of $2,000 will have sales tax calculated based on the original price of $30,000, not $28,000. Luckily, a good portion of states do not do this and don’t tax cash rebates. They are Alaska, Arizona, Delaware, Iowa, Kansas, Kentucky, Louisiana, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, Oklahoma, Oregon, Pennsylvania, Rhode Island, Texas, Utah, Vermont, and Wyoming.

Generally, only purchases of new cars are offered rebates because of how uniform and consistent each new car is. Dealers know exactly to the cent where the breakeven point is and if they are still a wide margin over, they can incentivize a potential car buyer by offering a rebate. While some used car dealers do offer cash rebates, they are a rarity due to the difficulty of arriving at true value.

Quick Tip 5: New cars depreciate as soon as they are driven off the lot, sometimes by more than 10% of their values; this is called off-the-lot depreciation.


Student Loan Payoff vs, loan payoff calculator.#Loan #payoff #calculator


Student Loan Payoff vs. Invest Calculator

It’s an age-old question: Should you pay off your student loans or invest? The simplest answer is if your student loan debt has a higher interest rate than your expected return on investment, pay down your student loans first. If your investment earns a higher rate than your student loans will cost in interest, invest.

Many other variables, such as tax deductions and employer investment matching programs play into this equation. Use the Student Loan Payoff or Invest Calculator below to determine your repayment strategy.

Step 1: Current loan info

Student loan balance

Average interest rate

Current monthly payment

Step 2: Investment Info

Current retirement savings

Annual rate of return

Current monthly contribution

Years of contributions

Step 3: Extra

Monthly payment

On the other hand, if you decided to invest the extra $317 per month for , here are your results:

– yr years after you finish contributing. You can see the long term results below:

Loan payoff calculator

Student loan refinancing rates as low as % APR. Check your rate in 2 minutes.

Student Loan Payoff vs. Invest Calculator FAQs

1. Should I take the calculations from the Student Loan Payoff vs. Invest Calculator and apply them directly to my financial situation?

No. The calculations here are for estimation purposes only. It s important to note that this calculator in particular also factors in a lot of assumptions that may not hold true, such as annual expected return on investments as well as long-term tax rates. Additionally, there are other factors that this calculator cannot account for. As always, we recommend consulting a finance or tax professional when it comes to making your own financial decisions.

2. What value do I use for the Extra Money Payment Amount field?

This calculator assumes that you have extra money left over each month after you pay your monthly student loan bill. Enter the amount you have left over in the Extra Money Payment Amount, field. The calculator will then calculate where it may be best for you to apply this money (towards your student loans or an investment account).

If you do not have any money left over in your budget after paying your student loans, this calculator will not be helpful to you.

3. How do I make extra payments on my student loans and make sure the payments are applied correctly?

Check out this blog post to find out.

4. If I want to invest my money, how and where can I do that?

You can check out various investment options with our partners in the Student Loan Hero Marketplace.

  1. Prepaying student loans may be better than investing.
  2. Investing may be better than prepaying student loans.

Loan payoff calculator: Payoff mortgage early by using our free calculator, Calculators4Mortgages, loan payoff calculator.#Loan #payoff #calculator


Early Loan Payoff Calculator

Our Mortgage Payoff Calculator tells how much to add to monthly payments to reduce your loan term and how soon you will pay off your home loan.

Accelerate Your Mortgage?

While some financial experts caution against paying off a mortgage early (money once given to a lender isn’t always easily gotten back if or when you need it), if you have extra cash on hand and don’t like debt, reducing or eliminating your mortgage more quickly than the agreed upon schedule may give you the peace of mind or breathing room in your budget when you are older.

Loan payoff calculator

to request free refinance quotes from our database of pre-screened mortgage lenders.

How to use the Early Payoff calculator

Here’s how it works: You input your original mortgage balance, the original term and interest rate. Then figure out how many month’s of payments you’ve already made. Finally, decide how soon you’d like to have your mortgage paid off. For example, a couple in their 40’s may decide that they’d like to pay off the 30-year loan they took out last year in 20 years. They input the particulars of their current loan, put in a new term of 20 years, and the Early Payoff Calculator determines how much extra they need to pay each month to make that happen.

15 Yr. Fixed – Purchase Rates from Our Lenders in California

Refinance Your Mortgage?

But adding extra to your payment each month isn’t the only way to accelerate a mortgage. Refinancing to a shorter term might be a better way if you can get a lower mortgage rate. Interest rates are near historical lows.

Paying your mortgage early by refinancing to a 15 year loan reduces your interest expense because 15-year rates are lower than 30-year rates, and a 15-year loan also accelerates your loan payoff.

Using our Mortgage Refinance Calculator allows you to compare the payment on a new 15-year mortgage to the payment on the Early Payoff Calculator. You might be able to retire the loan even faster or pay less each month by refinancing.

  1. pat lewis 30, Aug, 2012

i have a 30 year loan at 4 percent. If i pay an additional 3500 dollars to the principal yearly. how long will it take to pay the house off??

Would it be better if I continue paying $100 into principal every month or refinance for 20 years at 3.3 % on a $116,299 mortgage balance

I started with a 30 year loan in 2003. I have been putting $250 extra per month toward the principle. With your calculations my balance is higher because there isn’t a box to put in the extra payments already made. What should I do?

i love it thank you

Five years ago, i bought a house for $171,000. i had a down payment of $35,000, which meant i took out a loan for $136,000. my interest rate was $5.6% fixed. i would like to pay more on my loan. i check my bank statement and find the following information. Escrow payment: $232.78 Principle and Interest payment: $751.90 Total payment: $984.68 Current Loan balance: $121,259.44 Assuming i currently meet my monthly expenses with no left over to speak of, how much more money a month do i need to make in order to pay off my loan in 20 years instead of 25? Is this reasonable? Is it more or less reasonable to consider refinancing my loan?

The rough rule of thumb is double your P ?>

Student Loan Consolidation and Debt Payoff #consolidate #loans


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Student Loan Consolidation and Debt Payoff

Javascript is required for this calculator. If you are using Internet Explorer, you may need to select to ‘Allow Blocked Content’ to view this calculator.

For more information about these these financial calculators please visit: Dinkytown Financial Calculators from KJE Computer Solutions, LLC

Student Loan Consolidation and Debt Payoff Definitions

Use minimum payment If you checked the use credit card minimum payments box, your monthly payment is calculated as 4% of your current outstanding balance. With the use credit card minimum payments box checked, your monthly payment will decrease as your balance is paid down. This can greatly increase the length of time it takes to pay off your credit cards. Uncheck this box to enter your own monthly payment that will remain the same until your balance is paid in full.

(We calculate your minimum monthly payment as 4% of your current outstanding balance. While your actual minimum monthly payment may be slightly different, this is one of the most common methods used by credit card companies to calculate minimum payments.)

The Best Financial Calculators Anywhere!


Calculate Loan Payoff in Excel 2010 the Easy Way #career #development #loan


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Calculate Loan Payoff in Excel 2010 the Easy Way

One of my favorite uses for Microsoft Excel is to make a financially tracking spreadsheet. With this I track all my expenses by hand. Yes there are services out there like Mint that will do this for you, and I really like Mint, but Mint doesn’t have everything I want or need. One of them is a loan payoff calculator. We have shown you a really cool iPad app that will show you a nice graphical and table format for your loan payoff. If you don’t have an iPad but have a computer with Excel, here is a way to calculate loan payoff in Excel 2010. You can also use Excel 2007 as well.

Calculate Loan Payoff in Excel

First thing you need to do is open Excel. You can do this by going to the Start Search and typing in Excel, or going to the Programs folder under Microsoft Office. After you have it open Enter the headings in Loan Amount, Interest Rate, Term of Loans Months   and Payment in B2, C2, D2, and E2. In the cell below each one but the correct values except for the E2. which is the Payment value, unless you already know what it is. Then enter Payment Date, Starting Balance, Interest Paid, Principal Paid, and Ending Balance in B4, C4, D4, and E4. After A4 enter in the frequencies of the payments. For me I’m going to do this for months since this is typically by months so I will be skipping by ever month on the 16th. Your spreadsheet should look this:

If you didn’t enter in E2 we can use the payment function to calculate this. Since we are using months in this spreadsheet we will be dividing the interest rate by 12 to calculate the monthly interest and multiply the term of the loan by 12 as well to correctly calculate the total number of payments. We will also add a minus sign to the Loan Amount in order to return a positive result rather than a negative liability figure which is the default. The formula will look like this: =PMT(C2/12,D2,-B2). Enter this into E2 like below:

The next step is filling about row 5. Since this is the first row we will need to make sure to set this one up special. First in B5 enter the formula =B2 just like below.

Next in C5 enter in the formula =B5*$C$2/12. This formula will calculate the interest paid for the first month. We are still dividing the interest rate by 12 since the rate is an annual interest rate and we need it for just one month. This is how it should look like:

Next up is the actual Principal Paid. or D5. All we have to do for this is subtract the interest paid from the payment. That is down with this formula =$E$2-C5. It will look like this:

Last field in this row the Ending Balance. or E5. All we need to do is subtract the Starting Balance minus the Principal Paid or =B5-DB. It will look like this.

That’s it for the first row. Your spreadsheet should look like this:

Now for the other rows. Starting in B6 we will want to enter in the previous Ending Balance or E5. Enter in =E5 in B6 just like the picture below:

Then select C5 through E5 and click and drag the little box in the bottom right hand corner to row 6 just like the picture below:

The formulas will drag and auto calculate the new values in row 6. Highlight B6 through E6 and click and drag the little box to the right to the end of your spreadsheet to let autocomplete fill in the blanks.

Your spreadsheet will look like this now. Make sure to use autocomplete function, or the little box in the bottom of cell, to complete the entire term of the loan.

The best part about this spreadsheet is that you can quickly change the Loan Amount, Interest Rate, Term of Loan Months and the Payments at the top, row 2, without having to redo all the formulas in the entire spreadsheet.

Give it a try! If you have any question or comments please share them below or post them in our excel how to forum


Mortgage Early Payoff Calculator #installment #loans #for #bad #credit


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Mortgage Payoff Article Payoff Mortgage or Invest?

Early Mortgage Payoff Calculator

You can save 10’s of thousands and maybe even 100’s of thousands of dollars by paying off your mortgage early, and it may be easier to do than you think!

With the use of the early loan payoff calculator on the bottom of this page, you can see how adding small extra amounts of money to your monthly payment will result in a much faster amortization in your mortgage.

This happens because the leverage of addition principal being paid will result in early payoff amortization. Once accelerated amortization starts to take place, the rate of amortization will increase due to the principle of compounding.

By the way, if you would like to get an amortization schedule of your mortgage you can use this excellent amortization calculator at: Free Amortization Schedule.

Of course, early payoff calculators and amortization calculators can’t help without making a change as to how you pay your mortgage, but once you have the information a good mortgage early payoff calculator provides, you will see the magic the compounding of small additional monthly payments provides.

It is true times are tough, but with a small amount of budget juggling, this this payoff mortgage calculator will help you save tons of money!

Here is Your Early Payoff Calculator.

Yearly interest rate %

Amount left to pay on your loan $

Amount of monthly payment you now pay $

Amount of extra you will pay each month $


Mortgage Payoff Calculator. #consolidate #private #student #loans


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Should you pay off your mortgage early?

BY: Amy Fontinelle

Paying off your mortgage early, either by making extra principal payments from time to time or in a lump sum if you receive a windfall, will save you thousands of dollars in interest.

In addition to saving on interest, paying off your mortgage early gives you a sense of security from owning your home free and clear. If you get sick, become disabled or lose your job, you don t have to worry about losing your home because you can t afford the mortgage payments. You just have to keep up with insurance, property taxes and basic maintenance.

One argument against paying off your mortgage early is that you could invest your extra principal and earn a higher return. If your mortgage interest rate is just 4% but you think you could earn 8% in the stock market, it might make more sense to invest your surplus cash. Use our prepay versus invest calculator to see how this could work.

When you pay off your home loan early, however, you re effectively getting a guaranteed rate of return that s the same as your mortgage interest rate. Investment returns are never guaranteed, and most investors underperform the market. In addition, you ll pay taxes on any investment gains (whereas mortgage interest is tax deductible), and inflation eats away at your investment returns.

Here are three other scenarios in which you shouldn t pay off your mortgage early:

You re not fully funding your retirement: Make sure you re contributing at least 15% of your pre-tax income to your retirement account before you make extra payments on your mortgage. The earlier you save and the more you save for retirement, the less you have to sock away overall because of the power of compound interest.

You have credit card debt: It doesn t make sense to pay off a loan with 4% interest early when you have outstanding high-interest credit card debt. The same goes for car loans, student loans or any other loans with a higher interest rate than your mortgage.

You don t have an emergency fund: Do you have enough money to handle a sudden, major car repair without taking out a loan? What about paying an emergency room bill, or riding out several months of unemployment? You should have plenty of cash on hand for worst-case scenarios like these, because if you don t, you might have to borrow at a high interest rate to get by. That could cost you a lot more than what you ll save from making those extra mortgage payments.

Use our how will prepaying change my loan calculator to help you weigh the options.


Student Loan Consolidation and Debt Payoff #government #business #loans


#student loan calculator
#

Student Loan Consolidation and Debt Payoff

Javascript is required for this calculator. If you are using Internet Explorer, you may need to select to ‘Allow Blocked Content’ to view this calculator.

For more information about these these financial calculators please visit: Dinkytown Financial Calculators from KJE Computer Solutions, LLC

Student Loan Consolidation and Debt Payoff Definitions

Use minimum payment If you checked the use credit card minimum payments box, your monthly payment is calculated as 4% of your current outstanding balance. With the use credit card minimum payments box checked, your monthly payment will decrease as your balance is paid down. This can greatly increase the length of time it takes to pay off your credit cards. Uncheck this box to enter your own monthly payment that will remain the same until your balance is paid in full.

(We calculate your minimum monthly payment as 4% of your current outstanding balance. While your actual minimum monthly payment may be slightly different, this is one of the most common methods used by credit card companies to calculate minimum payments.)

The Best Financial Calculators Anywhere!


Mortgage Early Payoff Calculator #car #loan #refinance


#mortgage loan calculator
#

Mortgage Payoff Article Payoff Mortgage or Invest?

Early Mortgage Payoff Calculator

You can save 10’s of thousands and maybe even 100’s of thousands of dollars by paying off your mortgage early, and it may be easier to do than you think!

With the use of the early loan payoff calculator on the bottom of this page, you can see how adding small extra amounts of money to your monthly payment will result in a much faster amortization in your mortgage.

This happens because the leverage of addition principal being paid will result in early payoff amortization. Once accelerated amortization starts to take place, the rate of amortization will increase due to the principle of compounding.

By the way, if you would like to get an amortization schedule of your mortgage you can use this excellent amortization calculator at: Free Amortization Schedule.

Of course, early payoff calculators and amortization calculators can’t help without making a change as to how you pay your mortgage, but once you have the information a good mortgage early payoff calculator provides, you will see the magic the compounding of small additional monthly payments provides.

It is true times are tough, but with a small amount of budget juggling, this this payoff mortgage calculator will help you save tons of money!

Here is Your Early Payoff Calculator.

Yearly interest rate %

Amount left to pay on your loan $

Amount of monthly payment you now pay $

Amount of extra you will pay each month $


Payoff Loan Calculator #guaranteed #payday #loan


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So don t Payoff loan Payoff loan calculator calculator take payday loans limited to low priced.

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