Car Loan Payment Calculations

The formula form fixed installments loans is used to calculate auto loan payments.

[MahaloTheDesigner]

Unlike other videos on YouTube, this video explains the mathematical break down in its simplest form. Thank you this was extremely helpful !

[johnjohnsonson]

I watched 4 other videos, they all just started with a pre-calculated payment amount, and just explained how payments are more more principal and less interest as you go… one video just used an interest rate calculator… another said apr = interest/loan and said nothing else lol….

FINALLY I get the full picture/equation. Thank you sir!

[josuediaz]

Wow, you explained so well, thank you. Now I have a clear picture of how the calculations worked 👍

[TravoneEvans]

Thank you for this. Your video auto played right after a video that wasnt telling me what I wanted to know.

[valentinocaine]

This is the best video on this topic I have seen. Thank you so much

[logancowan]

This was awesome Rett, thank you so much!

[dkcbjnb]

dude this was awesome i learned so much and youre saving my butt with homework right now!! thanks so much the textbook did nottt explain this at all i thought i had to go buy a fancy calculator :, ) THANK YOU THANK YOU THANK YOUUUU

[lulubayou]

I should’ve listened in math class. I’m lost

[Hinchey]

This is really well done. Amazing job!

[mbusomehlomakulu]

Thank you, You just helped me solve a problem on my project

[Jazzmin]

Your video are nice ❤ was stress asf getting bank statements and paystub for my car loan until I ended up getting it from a vendor online

[TexasKayjun]

Wish I would have known this formula 20 years ago.

[jijiji]

Honest question, why not express all that as a simple percentage of

[dexterthomas]

what is raised 🤷🏾‍♂️ how you get that number

[JohnPaul-olzl]

Great Video for calculating a Loan payment with a Fixed Annual Interest Rate.  I only have two questions:

1) Is the Fixed Annual Interest Rate the same as what is referred to as APR (Annual Percentage Rate) ???

2) I ask the above question because I have an auto loan where the only rate shown on the paperwork is the APR.  I use that rate to plug into your formula and get $617.14 as the monthly payment.  Yet the paperwork of the loan shows the amount as $619.18, which is $2.04 difference (greater). Do you or anyone seeing this comment-post, know why there is a difference?

Thanks,

John

[Maluuu.x]

How do you calculate extra payments towards principle ? And do the math to see how much time you have left for payoff ?

[albertoj.mollinedo]

~16% aprox. of the value in interest. thats a saw deal. but then again 8% APR is those terms are bad. i guess those 48 months are the only thing thats not bad. People have no idea how much bad business is financing a car.

[dexterthomas]

it don’t make sense poor job explaining the calculation