Hire Purchase Calculator
This application provides basic information and calculation for typical car loans including hire purchase loans that contain a final payment / balloon payment. There are two ways you can use this application, you can use it to look forward and determine what a new loan and payment schedule will be, or you can use this application to review your existing loan to understand its progress and current remaining loan value.
Payment Schedule
The schedule provides a breakdown of the monthly payments derived from the Hire Purchase Calculator. This makes it possible to calculate the following points:-
- Your early settlement figure for any month of the loan you have, once you have entered your current loan parameters
- Review a future loan schedule of payments and interest
- Estimate the equity status -+ of your car value vs. loan value. Use the GFV Calculation and Schedule to determine this.
GFV (Guaranteed Future Value) Calculator
Furthermore this application also provides you with a basic final payment / balloon payment calculator which you can use when purchasing a new car. (approx. valuation only as every make and model of car differs slightly). The best valuation is that given and agreed by the dealership. This acts as a fairly accurate estimation though.
Help
A guidance screen has been added for each option to make things that bit easier for you.
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** A future update will add an equity status evaluator that you can use to determine if your car is in negative or positive equity today, useful if your thinking of trading it in**
Please dont forget to submit a review, id really like to hear your views on what can be improved.