To perform a loan calculation three values in the following ranges are required:
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After providing the required values tap the calculate button to display the montly payment, total interest and the cost of the loan. The loan data is automatically saved. The next time you launch CarLoan you will return to the last saved loan. |
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The last saved/calculated loan can be emailed out by tapping the 'send' button. |
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The 'reset' button clears all the inputs in the calculator. However, the loan is still saved on disk, and you can reload it at any time. |
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You can reload the last saved loan by tapping the 'reload' button. The calculator will read in the last saved loan values. Upon startup the calculator initializes at the last saved loan. |
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To get to the amortization screen tap the amortization button. |
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The Amortization screen displays the last viewed amortization table. Tap the 'Refresh' button to display/recalculate the latest calculated amortization table. |
| Vehicle price | A mandatory field within the defined range (see above). |
| Down Payment | Optional Field. The amount you put down toward the purchase. It can not be greater or equal to the vehicle price. |
| Trade-In Allowance | Optional Field. If you are trading in a vehicle this field represents the amount the dealer will give you as credit toward your new purchase. In the context of the loan, it makes little sense to have this value greater than the vehicle price. |
| Amount Owned on Trade-In | Optional Field. It represents how much you still owe on the vehicle that you are trading in. This value will be deducted from the trade in allowance. |
| Loan Term | Mandatory Field. Loan duration in months within the indicated range. |
| Sales Tax | Optional Field. Sales Tax on the original vehicle price. Note that the sales tax amount is added to the vehicle price and thus is part of the loan amount. |
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The 'info' button brings you here. Tap the 'Go back' button to return. |