#Car loan calc excel how to
#Car loan calc excel free
#Car loan calc excel windows

The Car Loan interest amount is calculated based on the unpaid principal amount remaining.If you pre-pay most of your principal amount then you can easily save the car loan interest amount.An increase in the car loan period will increase the interest amount you’ll have to pay throughout your home loan period.You should make a big amount of prepayment of your principal amount to reduce the maximum interest amount.The Principal amount will be less at first during your Car Loan period.The Interest Amount will be high at first during your Car Loan period.In EMI there are 2 parts: Principal amount and Interest Amount.Now we’ll calculate the 6 installments in a table as the loan is taken for 6 months.įor the first month, you haven’t paid any installment so your principal will remain the same. To make a car loan calculator in Excel we’ll use the following data.

#Car loan calc excel how to

How to Make a Car Loan Calculator in Excel Sheet

It will help you to manage your other plans according to your EMIs and prepayments.

If you prepaid some of the principal amounts then you can find the decrease in principal amount.

You will be able to know how much interest you’ll pay.

The car loan calculator will help you to know your monthly EMI.

Uses of Car Loan Calculator in Excel Sheet

The interest amount in every EMI will depend on this Interest rate.

Opt for floating interest rates to get the benefits of decreasing interest rates.

Understand the difference between fixed and floating interest rates.

First, compare the interest rates from different banks and other financial institutions before taking a loan.

Things to Consider about Loan Interest Rate

Always choose a higher Car loan EMI to decrease your interest amount and period.

A longer loan period will help in decreasing the EMI but will increase the interest amount.

It involves repayment of the main amount and payment of the interest on the unpaid amount of your loan.

You may be able to use the calculator with other applications that can open and read XLS spreadsheets, but this has not been tested.

#Car loan calc excel windows

You need to have Microsoft Excel 2007 & above and Microsoft Windows to use it. This calculator is built in Microsoft Excel worksheet.

#Car loan calc excel free

Here is a screen shot that will give you a better idea that what you need to do and how this free Car Loan Repayment Calculator can help you. There are many car loan calculators available online, I believe this will be the trully useful car loan repayments calculator. You can use this car loan payment calculator to calculate car loan for both used car loan and new car loan.

This car loan repayment calculator calculates the total payment, loan interest and is tailored to be an Australian car loan calculator. It has a pie chart to show the breakdowns of your total car loan payment. It also shows you the Comparison Rate (%) of your car finance. You can specify Initial Deposit, Balloon Payment, Annual Loan Fee, & Other One-off Fee(s). You can specify different repayment frequency - monthly repayment, fortnightly repayment, or weekly repayment. It is also a car loan amortization calculator which means you can use it to build a car loan amortization schedule. This free car loan calculator helps you determine your car loan repayment with a loan term from 2 to 7 years.