« previous next »
Pages: [1]   Go Down

Author Topic: Calculation Of Car Loan Interest Rate  (Read 2658 times)

Offline jovially

  • Low End (2000 rpm)
  • **
  • Posts: 157
Calculation Of Car Loan Interest Rate
« on: September 25, 2010, 11:53:13 AM »
I need some advise, hopefully bros & sis in this forum can help.
How the bank calculate the early settlement of the car loan?
is there a formula to follow?
Logged

Offline valeon

  • Low End (2000 rpm)
  • **
  • Posts: 389
Re: Calculation Of Car Loan Interest Rate
« Reply #1 on: September 25, 2010, 12:21:59 PM »

Check your Hire Purchase agreement with the finance company, should be able to get the formula from there. I think I saw it before.
Logged

Offline haar-b

  • Idling (800 rpm)
  • *
  • Posts: 53
Re: Calculation Of Car Loan Interest Rate
« Reply #2 on: March 13, 2011, 02:54:10 AM »
anyone know how can i get my car refinace/

 :devil2: :devil2:
Logged

Offline KEL

  • Low End (2000 rpm)
  • **
  • Posts: 196
Re: Calculation Of Car Loan Interest Rate
« Reply #3 on: March 14, 2011, 02:41:49 AM »
Quote from: jovially on September 25, 2010, 11:53:13 AM
I need some advise, hopefully bros & sis in this forum can help.
How the bank calculate the early settlement of the car loan?
is there a formula to follow?

Most banks use 'Rule of 78'.

You can check this out:

http://www.sgcarmart.com/news/writeup.php?AID=61

Logged
Pages: [1]   Go Up
« previous next »