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autoloans1.info Online Auto Loan,Auto Loan Refinance Calculator,Bad Credit Auto Loan,Auto Loan Insurance,Auto Car Loan,Auto Loan Refinancing,Used ...
The car loan calculator should exhibit proper use of exception handling,methods, iteration and selection statements and arrays.... it should require CAR PRICE, DOWN PAYMENT,MONTH LOAN and LOAN INTEREST
are you looking for somebody to write you the whole code for you?
I have to write 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 going 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 bear with me please). My dream car costs $23, 745.00 and my professor gave us a list of finacing options:
1.) Trade 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.) Make 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 trouble 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 Formula: 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"
Trade 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
Make 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 make 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
Thanks for your help. 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 maturity date is 08/22/2010
8.44% Simple Interest
No penalty for early payoff
I'm 18 if that helps and I live in Los Angeles. I make an average of $2,000.00+ a month, I am a student. My monthly expenses include rent+utilities which is $550.00, food, gas, and leisure. The $550.00 is a fixed expense. Food, gas, and leisure are somewhat flexible; I don't need to pay for insurance or cell phone payments my parents are taking care of that. So basically I'll have a safe $1,500.00 a month to pay for my car loan, food, gas, and leisure. As of right now I don't need to save money for basically anything I've been saving for a car since I was 16 because my parents would never buy me one. I have $10,000.00 to make a down payment and the rest of the money will be financed. Basically what I'm asking is can I afford a $30,000.00 car or am I just daydreaming too much. I've asked many people and they all said it was impossible but, doing my own math and checking out the car payment calculator at Edmunds.com, it looks like I can afford it. Am I missing something here?
You may or may not be able to afford it. At 18 I would rather have most of the 10,000 in the bank. Check out edmunds.com to see what the MSRP and what people are paying in your zip code. A new car at 30,000 for the most part is not marked up 3-4,000 unlike what the gent here stated. You may want to think about picking up a 1 year old that was used by a rental company. Generally these are maintained rather well but have a knowledable person help you look at it.
Don't know your credit aituation, but at 18 it may be tough to get a special finance ratelike 0% without a co signor but have seen 18 year olds qualify before ( or maybe family will help?)
You normally give up any rebates if you qualify for lower financing ( it's an either or situation), but all good fiance managers will be happy to show you what it would cost with the finance or with the rate ( very often it comes out the same anyways)
Good Luck with buying your 1st new car!
I know there are alot of online calculators available, but I need to know how the interest works for car loans ? I am trying to calculate the interest myself without using an online calculator and my monthyly payments.
This may look kind of crazy but it's correct.
Present Value = Cost [1-1/(1+rate)^time / rate]
20,000 = C [1-1/(1.0058)^60months / .0058
*that .0058 is .07/12
I don't have a calculator near me right now but if you multiply 1.0058 to the 60th power and sub that answer in and divide the C# by 20,000 you'll have the answer.
Bad Credit Auto Loan – Low Interest Rates on End of Year Car Sales Subprime Blogger (blog)
Almost every single automaker is currently running a very good deal as an end of year sale. Many of these automakers are offering financing as low as 2.9% but please understand that this is for good credit borrowers. If you do not qualify for this financing at the dealership you will need to look to other options. Some of those options may include bank loans or getting a loan from a bad credit lender .
One of the most important things you can do is find out what your credit score is. It is well worth it to pay the $20 to get a credit score online. This will not only give you an idea as to what interest rate you will get but it will also tell you what lines of credit you currently have outstanding. Make sure to do this as soon as possible as the year is coming to a close.
Once you’ve seen your credit score you will better be able to determine if you can use the financing at the dealership or if you will have to go to a bad credit lender. There are many bad credit lenders that are currently advertising very hard on the Internet so it should not be very difficult to find one of these companies. Make sure to do your research and pick out a company that will suit your needs.
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