Okay, so I got a new car, blah blah. This loan stuff is confusing as hell to me.

I'd like to see a break down of every payment that I make and what I owe versus what the interest is as I go along.

I'm trying to do this in excel, but failing.

Do I apply the financing percent after every month, or every year? And is it the anniversary of the sale of the car, or Jan 1st?

Edit, kind of like this.

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You SHOULD have got a contract that tells you how much you will actually pay for the car by the end of the payments.

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Yes, I have that, but I like numbers and want to play with it. I'll be having it paid off in far less than 72 months.

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That should save you alot of money, interest wise.

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Hoping so bud. 🙂 I figure if I throw about 100 extra a month, plus half of my bonus and tax return every year, it should go down quick.

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You bought a 100 thousand dollar car!?!?


(j/k!)LOL

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lol, heck no! I owe 10k. You were only one ZERO away. 😉

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Your such a Z2C 

Just go to ammortization schedule and pump in your loan amount, interest, and duration and then check the box to see full schedule.

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Zero-I'd have to agree with Cheesey. Your loan example in your first post is for $100K...I'd sell your house and live in the car...

The example is ... an example. It relates nothing to my financial purchase at all. I was merely showing with a graphical representation what my goal is to achieve.

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You were looking to achieve a $100,000 car?

Thanks for trying to help, greatly appreciate it.

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Z-just trying to have fun in principle while we figure out how to help. Your example looks good, but I would add a column for your additional payments so that you can do a comparison between alternatives.

The amount of the payment going to interest would be calculated off of the interest rate and the principal balance.

Your principal should be calculated from your previous principal minus the difference between your interest owed from your previous payment and the total amount of your previous payment, with 100% of whatever extra payment you make coming off the principal.

So, principlely, I'd recaclulate the interest each payment, since the principal remaining would change each period. You would just have to modify your principal column to subtract out the additional payment in the previous row.

There's this thing called the "Internet." On the internet is an outfit called "Google."

You can then find something like this:

http://www.ezcalculator.com/paybreak.htm 

And yes, if you Wiki "Asshole" you'll find my picture there. 😛

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I did check the internet, found several items, but none of which I'm seeking. How else do you think I found the graphic?


It's extremely insulting and offensive to be told to use the internet, especially when you're talking to a guy who once googled how to tie a tie half hour before a job interview.

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I hope you had a suit to go along with the tie. 🙂

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use a Pert formula, you should be able to create an algebraic expression to find the values you want.

Pert formula 

you will need a multi-line calculator and no how to compute logarithms.

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