Compare 4 Loans At Once

Jeff Ostroff Version 1.4 Last Update 9/2/2000

Click "INSTRUCTIONS" tab at the bottom.

For illustrative purposes only, no guarantees of any kind.

This spreadsheet is from the free Consumer Advocate automotive site CarBuyingTips.Com:
http://www.carbuyingtips.com (For Buying Cars) http://www.carbuyingtips.com/lease.htm (For Leasing Cars)

Read our Articles on Extended Warranties and Financing:

What to look for when financing your car and buying extended warranties. Gives pitfalls, shopping tips, avoiding scams.

http://www.carbuyingtips.com/warranty.htm http://www.carbuyingtips.com/finance.htm

Inspira 2.0
State Sales Tax Rate (%) Selling Price of car Sales Tax Rebate Down Payment Trade in OR Adjustment (+/-) Amount Borrowed (Principal) Number of Months in Loan Interest Rate (APR) Total Interest on the loan will be: Your Monthly Payment will be:
0.00% $92,000.00 $0.00 $0.00 $5,000.00 $0.00

Civic 2.0 2007

State Sales Tax Rate (%) Selling Price of car Sales Tax Rebate Down Payment Trade in OR Adjustment (+/-) Amount Borrowed (Principal) Number of Months in Loan Interest Rate (APR) Total Interest on the loan will be: Your Monthly Payment will be:
0.00% $90,000.00 $0.00 $0.00 $5,000.00 $0.00

$87,000.00
108 5.00% $21,216.30

$85,000.00
108 4.00% $16,356.09

$1,002.00 $108,216.30 $113,216.30

$938.48 $101,356.09 $106,356.09

Total Cost of The Loan

(including interest)

Total Cost of The Loan

(including interest)

Total Cost of The Car

(Includes taxes, rebate, interest)

Total Cost of The Car

(Includes taxes, rebate, interest)

P
State Sales Tax Rate (%) Selling Price of car Sales Tax Rebate Down Payment Trade in OR Adjustment (+/-) Amount Borrowed (Principal) Number of Months in Loan Interest Rate (APR) Total Interest on the loan will be: Your Monthly Payment will be:
0.00% $55,000.00 $0.00 $0.00 $5,500.00 $0.00

Scenario #4
State Sales Tax Rate (%) Selling Price of car Sales Tax Rebate Down Payment Trade in OR Adjustment (+/-) Amount Borrowed (Principal) Number of Months in Loan Interest Rate (APR) Total Interest on the loan will be: Your Monthly Payment will be:
0.00% $20,000.00 $0.00 $0.00 $5,000.00 $0.00

$49,500.00
108 8.00% $20,098.05

$15,000.00
108 8.00% $6,090.32

$644.43 $69,598.05 $75,098.05

$195.28 $21,090.32 $26,090.32

Total Cost of The Loan

(including interest)

Total Cost of The Loan

(including interest)

Total Cost of The Car

(Includes taxes, rebate, interest)

Total Cost of The Car

(Includes taxes, rebate, interest)

* These calculations assume that all loan payments are paid at the end of the month. * Luxury Tax not included.

Instructions for using this loan spreadsheet

http://www.carbuyingtips.com (For Buying Cars) http://www.carbuyingtips.com/lease.htm (For Leasing Cars)

This spreadsheet is from the free Consumer Advocate automotive site CarBuyingTips.C

Read our Articles on Extended Warranties and Financing:

http://www.carbuyingtips.com/warranty.htm http://www.carbuyingtips.com/finance.htm

What to look for when financing your car and buying extended warranties. Gives pitfalls, shopping tips, avoiding s

There are no guarantees of any kind, implied or not.

You can use this spreadsheet to evaluate up to 4 different loan scenarios at once. This unique feature makes this one of the most valuable yet easy to use loan calculators around. This 4 way evaluation will give you an "at a glance" summary of different scenarios you might consider while arranging your vehicle financing. Use this spreadsheet to help you decide whether to take the rebate or the low finance rate, or just to compare the monthly payments of different interest rates and loan terms.

Here's How to use the spreadsheet:

All the items that need to be entered by you have a thick blue underline. The numbers calculated by the spreadsheet are underlined in black. Enter data only where you are supposed to. All the other cells are locked.
1) Enter the state sales tax rate % into the "State Sales Tax Rate" field if you want tax figured into the loan. 2) Enter the selling price of the vehicle, including options, extras, etc. under "Selling Price". 3) If there is a rebate, enter it under "Rebate". 4) If you are putting any cash down, enter the amount under "Down Payment". 5) If you have a trade-in or need to adjust your total to match the dealer's total, enter it under "Trade in OR Adjustment (+/-)". You can enter negative numbers to adjust the total if needed. 6) Enter the # of months of the loan into the "Number of Months in Loan" field. 7) Enter the interest rate of the loan into the "Interest Rate (APR)" field. Do steps 1-7 for the other 3 loan scenarios if desired.

That's it! The spreadsheet calculates the sales tax, monthly payment, total interest on the loan, total cost of the loan, and the total cost of the car with all the loan payments, interest, tax, etc.

Special Notes About This Spreadsheet

* These calculations assume that all loan payments are paid at the end of the month. Most internet calculators are like that as well. * Luxury Tax is not included in the calculations, so if your vehicle is subject to it, you can account for it in the selling price field or in the "Selling Price" field or in the "Trade in OR Adjustment (+/-)" field. * The fields containing my formulas are password protected for your own good so you don't start trying to fix what ain't broken, and break something. * The print area has already been defined and the entire spreadsheet is already sized and setup to print on a single sheet of paper. The different sections are in color to make it easier to read. If you do a print preview, you'll see the whole spreadsheet will fit on one page. * As you move from cell to cell, you will see the formula for each calculated amount in the formula bar located up in the status window. This makes it easier for you to determine how the numbers were generated. The cells are also named so the formulas are very easy to follow.

* I spent many hours creating this free spreadsheet to give out at no cost to readers of my free consumer tips articles. Please don't attempt to sell this or incorporate it into a product, it was meant to be given out for free, by me, and not bundled with someone else's software for their profit. Also, don't try to take credit for it or attempt to hack through my password to erase my information, it will be most futile. The spreadsheet is registered and I have engineering logbooks to document everything. Heaven help the person I catch trying to profit from this spreadsheet. You'll wish you had joined the Heaven's Gate people in their quest to find the UFO behind the Hale-Bopp comet.

* Feel free to make as many copies of this spreadsheet as you wish and give them to anyone for free. It's my gift to the world.

Update Log:
2/2/98: 2/4/98: 3/4/1998 7/4/1998 7/26/1998 7/19/2000 9/2/2000 Initial release Uprev to 1.1: Corrected error in total interest calculation on the loan in scenario #4. If you have the 1.0 version, make sure you upgrade it! Corrected error in my URL. It said hppt instead of http. Duh! Uprev to 1.2: Changed URLs. Uprev to 1.3: Added URLs pointing to warranty and finance pages. Added new CarBuyingTips.com logos Minor changes to URLs and Logos to make them clickable to bring up a browser window.

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