Car Loan VIP ★
by: mcstealth • 4
Planning to buy a car? Want to have a very close estimate of your monthly payments so you don't get surprised when you go to the dealer and see the numbers? How about getting the best deal for your car and show to the dealer what you are willing to pay and let them do their magic on how to come up with that. this application will help you gauge yourself if the car you want to buy is within your budget before you actually go to the dealer and waste your time ;)
You need this app! The easiest car loan calculator you'll ever find. This calculator is using the formula below.
(P x (i / 12)) / (1 - (1 + i / 12)-n)
P = Principal (main loan, minus your down payments)
i = APR Interest rate in Percentage %
n = Number of months to pay terms
This application provides the most logical estimate for your loan, this will never report the exact amount due to so many different variables considered, but it will be really close.