5 years terms but going to pay cash for just 2 years...

[RF02]

Hi guys... i really need your help..


baka meron po marunong mag compute kung paano malalaman magkano nalang bbyaran ko sa pickup ko naka bank loan sya for 5 years, pero bbyaran na ng cash this month saktong 2 years sya..


kahit estimate lang kahit hindi exact...


nag tanong kasi ako sa bank kung san naka loan yun sskyan, last month pa upto now hindi parin sya makabigay ng exact amount kaya nagdududa na ako.. eh sa previous car namin (caso in-house financing) ilang araw lang may final amount na agad.


i-pm ko po sayo yun details kung alam nyo po computation...

thanks in advance!

[jodski]

Out of curiosity lang... Na escalate na ba yan up to the superiors ng kausap mo? They arw banks they should be able to give you a definite answer when

[RomeoAlpha]

sir mahirap hulaan computation, pero may makakapagestimate.

[yapoy86]

Pa compute mo sa bank. Check your contract may pre-termination fee yan

[RF02]

thanks sa mabilis na response guys


mismong bank manager kausap ko, kung san ko din kinuha yun unit ko... kaya nga ang weird eh... dati sa casa lang saglit lang yun may amount na agad.

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thanks sa mabilis na response guys


mismong bank manager kausap ko, kung san ko din kinuha yun unit ko... kaya nga ang weird eh... dati sa casa lang saglit lang yun may amount na agad.

[RF02]

sir mahirap hulaan computation, pero may makakapagestimate.

naku sana pedeng matanungan? hehe

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sir mahirap hulaan computation, pero may makakapagestimate.

naku sana pedeng matanungan? hehe

[kendrichgo]

Ang alam ko po they will contact the people on the loans department kaya pag hindi nagreply mga tao dun, wala ka din makukuha na reply sakanila ))

[RF02]

guys may nahanap akong "amortization schedule"


yun amount sa outstanding balance, yun ba yung amount na babayaran ko? or may additional or less pa yun?

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guys may nahanap akong "amortization schedule"


yun amount sa outstanding balance, yun ba yung amount na babayaran ko? or may additional or less pa yun?

[sphinxz]

Sir, if you won't mind, Anong bank ba/yan? Alam ko kahit saang branch ka pa magpunta na bank, makakapagbigay sila ng computation immediately. Kaya nga ng 1 day lang. Psbank yung natry ko. May expiration din kung hanggang kelan valid yung amount na binigay nila. You need to pay that on or before the deadline.

[garic]

*TS, loan computation pretty much had been standardized by BSP to be in line with global financial industry. Hence, to get the information you required, you can follow this steps:

1. Open MS Excel on your PC.
2. Select Open, then find "installed templates", then look for the "Loan Amortization"
3. Enter the following details
- Loan Amount (not the value of the car, but the actual amount you financed with the bank)
- Annual interest rate (this I think should be reflected in your contract. note that this is annual, do not use the interest rate for the whole 5 years as the output will be wrong)
- Loan period in years. in your case = 5
- Number of payments per year = 12
- Start date of loan - input date when you started the loan, but doesn't really matter much in computation of the amount as you only need to see the amortization table (payment and interest for each month).
- Optional Extra payments - leave blank
4. Assuming that you have not paid the 24th month yet and you will to settle everything, your payment will be the total of the following
- "Scheduled payment" on "Payment No." 24
- "Ending Balance" on "Payment No." 24

The above computation excluded per-termination and other fees that the bank may add.

Also, you may notice that your principal did not reduced significantly yet, this is because banks will prioritize interest payments to get as much profit as possible and they foresee that a lot will per-terminate their loans - so get they get the interests early.
HTH