Monthly Archives: November 2019

Online Car Loan Calculators

Using our online car loan calculators on our website, we can calculate the monthly repayment charges for a specified term, with just a few basic details.

For the most part, there is more than one car financing option to choose from, for example, our car loan calculators give you more options to compare forint or foreign currency based and ALLASCO and ALLASCO based designs.

When can I use the car loan calculator?

car loan calculator

Before buying a new or used car, we are thinking of either a loan or a leasing arrangement, when replacing a previous bad loan, and last but not least, if you want to get cash quickly for your own car. A common feature of all the types of loans listed here is that the car itself does not need to be covered by external collateral.

For the sake of simplicity, we often use the term car loan calculator, but of course each loan type has its own unique calculator.

What to take note of when having car leasing?

What to take note of when having car leasing?

If you are using a car leasing calculator, please note that the difference between leasing and credit is that in this case the car will remain the name of the bank/leasing company until the end of the term, and you as the lessee will be the keeper.

You pay the service fees, the obligatory and the required. ALLASCO insurance, the cost of the technical examination of the vehicle. At the end of the term the ownership of the car is transferred to you.

When calculating a car loan calculator, there are several factors that affect the taking of a car loan and / or car lease, such as the individual or legal entity. In the case of a legal entity (sole proprietorship or joint venture), only the leasing arrangement can be selected.

The required leverage (which is actually the first installment) is influenced by whether the loan is forint or foreign currency. The own funds can be chosen from 20% to 40%, while the maturity can be up to 7 years for individuals and up to 8 years for legal entities.

Online Loan Installment Calculation: Tools to Calculate Financing

 

How is the loan installment calculated ? Knowing the value of the installment of the loan allows you to understand if the product examined is actually sustainable with respect to its own profitability. Not only. The installment can be compared to that of other proposals, so as to identify the most convenient credit line.

Calculate the loan online: the factors to consider

Calculate the loan online: the factors to consider

What are the operations to be performed to perform the loan installment calculation? First of all, the amount to be received must be established, then the amount of the Annual Nominal Rate, also known as TAN, the size of the APR, that is the Global Effective Year Rate, the expiry date and the number of installments that make up the plan refund.

The TAN is a relevant factor because it defines the interests arranged by the lender in relation to the loan amount. The APR instead provides an indication of the overall cost of the credit line, it includes costs not recognized by the TAN.

Generally, however, there are no taxes inherent to the signing of the contract, any default interest and costs related to the recovery of the credit in the APR.

Online loan calculation tools

Online loan calculation tools

Let’s get into the merits of the calculation methods. A first option is to turn to the numerous online calculators available for free. Just a simple Google search to locate them.

Various data must be entered (duration of repayment, amount of the loan, rate, expiry of the installments) essential for the calculation. As for the rate, it is preferable to enter the APR. This allows in fact to calculate an installment that includes costs.

On the web, Excel files that allow you to perform the loan installment calculation are also easily identifiable.

Calculation example

What we report below is an example of calculating the installment. We examined an amount of 15 thousand USD, a repayment term of four years and a monthly installment frequency. The APR considered is equal to 8%.

The installment will be 366.19 USD, while the total cost of the loan will be 17.577.30 USD.

Applying for loans through capital lender is easy. An online loan application is sufficient to address both banks and private investors at a serious level. Of course, the borrower decides who gets the loan.

Our customer support team is fast and efficient to clear all your doubts regarding personal loan eligibility, procedures, offers, documentation and repayment options. We even contact with the respective lender on behalf of you.