Payday Loan Fairy

ui apply a auto loan of rs 250000.rate of interest is 14%p/a Reducing balance. for 48 month.what will be EMI.

It is very simple and you can also calculate at your place without using calculator.Use this link and put the desired options and you will get details on all the banks


http://www.paisawaisa.com/loans/car-loans.aspx
As per your query the answer is in this list
http://www.paisawaisa.com/loans/loan_compare.aspx

2009-01-17 08:17:12 by Sanjay S

Tutorial video showing how to use the features of the auto loan calculator found at www.morecalculators.com . The auto loan calculator is located ...

My interest rate is 2.9% and every month, the amount that goes towards interest fluctuates (up and down) by as much as 10 dollars even though I pay the same amount each month. Is the interest calculated monthly (.029/12) * Amount Remaining or is it calculated factoring days in the month and when I paid?

There are 3 main types of interest.

Also, a good place to check is...

http://www.knowledged.info/go.php?link=auto

Hope that helps.

2008-11-03 21:28:55 by Jessica B

I am trying to help a friend. I do not want to be nosey and ask her what her credit rating is, excellent, good, poor, but I was wondering if there is a certain amount of percentage points that are suppose be added to the national auto loan rates that I found online. I beleive the national auto loan rates is based on good-excellent credit rating, right?
Thanks for your help. It is greatly appreciated.

There are many auto loan options available today. Today, stiff competition among auto loan financing companies<!--has made it possible to get a car loan or an auto loan at favorable terms.

http://best-loans.awardspace.com/autoloans.htm

However, before you sign the paper for financing your favorite set of wheels, do your homework to ensure that you get the best car-->finance option. You can apply for online car loans on the Internet, or get it from your car dealer.

2007-12-15 18:22:52 by Tamara

If I have a joint loan with someone but am applying by myself for a mortgage, is only half the monthly auto payment calculated into my GDS, or the whole thing?

2009-01-11 20:34:47 by curtxxx

The bank is financing my wife for 9606.00 at an interest rate of 7.5%. The Term is for 5 yrs (60 months) What should the monthly payments be?

I used to be able to do this, but I think I'm missing something.

Here is how I did my math:

I took $9606.00 and multiplied it times 7.5% and came up with $720.45. Then I added that $720.45 to the $9606.00 and came up with a total of $10,326.45. I then divided the $10,326.45 by 60 (months) and came up with a total of $172.10. Meaning that $172.10 would be my monthly payment.

I went to bankrate.com and used their auto loan calculator and they came up with $192.48

The bank came up with $205.00 (I think they added credit, life, and disability)

So what the HECK am I missing......Please help!

$192.48 is the correct payment.
Using the formula below --
P = principal = 9606.00
I = annual interest rate = 0.075
L = 5 years
Then:
J = monthly interest = 0.075/12 = 0.00625
N = number of months financed = 12 * 5 = 60
Plug all these values into the formula below and you will get the monthly payment. Any insurance, etc. will be added to this amount.

FYI -- How you were figuring the amount is incorrect on a couple of points. First, you only calculated interest for 1 year ($720.45) For 5 years, interest would be more like $3600! However, you don't owe that much interest over the life of the loan, because you keep making payments. Each payment reduces the amount you owe, thus reducing the interest burden on the outstanding principal.

Although the payment amount doesn't change over the life of the loan, how it gets divided up does. Early on, most of your payment goes to interest, while toward the end of the 5 years, most of your payment applies toward principal.

good luck!

2007-06-09 21:26:11 by Crazy Q

Can anyone help with this?
My current auto loan is at $16,832.54 and if all payments ($349.91) are made on time will be paid off 7/21/13. The current interest rate is 12.65%. If I could get a rate of 6.9% and make the same payment amount, how soon would it be paid off and how much would I save in interest? (This was the type of math problem I was never ever able to do!!!!)

Thanks for your help!

With your current loan, you'd pay another $6,775 in interest through the life of the loan. If you refinanced at 6.9% making the same payments, you'd end up paying only $2,929 in remaining interest, saving you $3,846 in interest payments, and the loan would be paid off by October 2012.

You really need to use a financial calculator (or a spreadsheet with the same functions like Excel) to do the calculations. Hope that helps.

2008-02-22 13:32:03 by bbwcutey