Vehicle Leases work similarly as Car Loans; however there are two major differences.

The first difference is the ownership. If you take a car loan then you take the ownership from day one. The bank or credit institution sometimes may place financial interest so they can reclaim the car if you default on your loan.

The second difference is the Buyout or Residual Value. Car loans normally go towards a full repayment. On the other side, car leases often come with a buyout value.

It means that at the end of the lease term your leasing company either takes the car back or you can purchase it for agreed Buyout or Residual Value.

Continue reading “Car Lease Payment Calculator with Buyout or Residual Value in Excel” »

Are you thinking about purchasing a new (used) car? Or do you have car already and want to refinance it for whatever reason – be it a lower Interest Rate, lower Repayments or a better Finance Deal?

In this case we have a perfect Calculator in Excel just for what you need!

Continue reading “Car Loan Financing & Refinance APR Payoff Calculator in Excel” »

Normally at the end of mortgage when it’s fully repaid the balance is zero. However, in some situations you will need to calculate the outstanding balance of your loan.

This happens usually when:

1. You want to refinance your mortgage (pay off first and take another)
2. You inherit, earn or otherwise obtain large amount of money and decide to payoff your mortgage (wise choice!)
3. Selling your old home
4. Selling your old home and buying a new one

Off course, there may be other reasons, but the above 4 are the most common ones.

Continue reading “How to Calculate Mortgage Payoff Lump Sum Amount (Balance)?” »

Payment terms for mortgages are usually the longest of all loans. It makes sense to pay some Extra Principal as often as you can.

Making so can dramatically reduce Total Repayment Time of the Loan and also save you lots of money on Interest.

For this purpose we have created a great Mortgage Calculator in Excel that breaks down Repayment Amount into Principal and Interest. It also allows for Extra Payments in each period.

Continue reading “Principal and Interest Calculator for Loans & Mortgages in Excel” »

Have you got an existing Loan or Mortgage, would like to refinance it and are keen to see how the modification may influence your financial situation?

In this case we have just the right Calculator in Excel for you. It will show you exactly what impact amending multiple Loan Parameters will have.

This Calculator requires at least Microsoft Excel 2007 or later versions to be used on your computer.

Continue reading “Excel Calculator for Mortgage Modification & Loan Refinancing” »

If you are an Accountant for a small or medium sized company with multiple leases (or loans) then you probably experience problems with generating accounting entries every month.

What you need to work out are the principal and interest amounts for each lease and then summarize them. In case of just few loans or leases this isn’t a big issue.

But if you maintain several dozens of amortization schedules then the task can become quite time consuming.

Continue reading “Multiple Capital Lease Calculator: Excel Amortization Schedule” »

This advanced Excel calculator is designed to simultaneously manage Amortization Schedules for Multiple Loans. As you know, in most cases people as well as businesses don’t have just one loan.

However, if you are looking for a great calculator for only one loan (or mortgage) then instead of this one we recommend using this: Ultimate Loan Calculator in Excel

It has some additional features (like extra repayments or interest compounding options) which are not included in the Multiple Loan Calculator.

Continue reading “Multiple Loan Repayment Calculator: Excel Amortization Schedule” »

This calculator will help you model your repayments and find out the date when you become debt free. Simply list all your credit cards or hire purchase details into the entry table, hit the Refresh button. It will tell you straight away your debt free date.

Our calculator can also be used for other types of loans with variable repayments option. It means payments which you can freely change in each period. Personal loans usually have fixed amount that can be changed only after an agreement with your bank or credit line provider.

On the other hand, credit facilities like credit cards or hire purchases allow you to flexibly adjust monthly payments as it suits you. The only rule here is that the minimum payment must be either 2% or 3% of the outstanding balance.

With Our FREE Excel Debt Free Date Calculator you will be able to do all these things above and much more!

Continue reading “Pay Off Loans Faster & Get Debt-Free with Our Excel Calculator” »

Classic loan calculators that you can find on most finance or bank websites offer you only limited functions. Basically you can choose loan amount, add interest rate and set loan term and the calculator will tell you how much your weekly, fortnightly or monthly repayment will be.

What you cannot do is doing some more in depth analysis and modelling. For example you cannot keep adjusting your payment amount or payment frequency to see what the effects on the total loan term will be.

Loan Repayment & Mortgage Amortization Schedule Calculator in Excel will allow you to do all these things and much more!

Continue reading “Top Amortization Schedule and Loan Repayment Excel Calculator” »

We’ve got some good news for you! Recently we just released a new version of our Compound Interest Loan Calculator in Excel.

It’s often called “Amortization Schedule with Principal and Interest Amounts” which is basically the same thing as simply “Loan Calculator”.

The enhancements are:

1. Added Compounding Interest Frequency (daily, weekly, fortnightly and monthly)
2. Possibility to change Repayment Dates
3. Option to update Repayment Amount
4. Password unprotected worksheet (Paid version only)

The above changes make this Excel Calculator even better and far more flexible!

Continue reading “Daily, Weekly and Monthly Compound Interest Loan Calculator in Excel” »