Instruction Manual:
1. Accessing the Tool:
- Open your preferred web browser.
- Navigate to the web page hosting the Car Loan Calculator.
2. Entering Loan Information:
- Price of Car: Enter the full cost of the vehicle.
- Downpayment: Enter any amount you intend to pay upfront. Enter 0 if there’s none.
- Year of Vehicle: Input the model year of the car (e.g., 2023).
- Loan Period: Enter the duration of the loan either in months or years.
- Loan Period Type: Choose whether the loan duration you entered is in years or months.
- Inflation Rate (optional): Enter the expected inflation rate, if any. You can leave this blank if it's not a factor.
- Car Condition: Select if the vehicle is new or used.
- Interest Rate (%): Enter the annual interest rate offered by the lender.
3. Calculating the Loan:
- After filling in all the fields, click the "Calculate" button.
- The results will display your monthly payment, total interest, total amount payable, and a breakdown summary.
4. Exporting Results:
- Name your file: Enter a name for your output file (e.g., "loan_summary").
- Click on your desired format: Download PDF, Download CSV, or Download TXT.
5. Tips:
- Ensure all inputs are numeric where required.
- Check the accuracy of the interest and inflation rates to get reliable results.
- This tool gives estimates and should not be used as a substitute for professional financial advice.