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Amortization table

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Cloudlb
Regular Contributor

Amortization table

Anyone have any suggestions for keeping track of my auto loan?  Especially if I put extra payments down on the principal, I want to be able to track my progress.  I think your bank should have this available for you, but I don't think that's common.  Just do an excel spreadsheet? or what?

Message 1 of 5
4 REPLIES 4
JagerBombs89
Established Contributor

Re: Amortization table

 


@Cloudlb wrote:

Anyone have any suggestions for keeping track of my auto loan?  Especially if I put extra payments down on the principal, I want to be able to track my progress.  I think your bank should have this available for you, but I don't think that's common.  Just do an excel spreadsheet? or what?


 

Not sure if this is what you are looking for but you can tinker it to your siutation...

http://www.bankrate.com/calculators/mortgages/amortization-calculator.aspx

Message 2 of 5
Anonymous
Not applicable

Re: Amortization table

Just Google "amortization calculator" -- they're all over the internet.

Or, if you have checkbook software on your computer, use the one almost certainly included.

An amortization schedule is a great tool -- just pay the principal for the NEXT payment each month along with your regular payment (make sure it's credited as extra principal, and NOT put into escrow!), and you can cut your loan term in half.

 

Message 3 of 5
Anonymous
Not applicable

Re: Amortization table

Microsoft Excel Has one built in.

Message 4 of 5
Cloudlb
Regular Contributor

Re: Amortization table

I've been playing with the Bankrate one, and it does have the neat feature of calculating how much quicker you can pay off if you slot in extra payments.  But it's not "mine."  And I could do an excel one, I guess .. . I wish I could access an "official" bank one, so I could make sure my numbers match my lenders'.

Message 5 of 5
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