How To Make a Loan Amortization Table for a Car Loan

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This video covers how to create a loan amortization table with any amount of periods. A typical 5 year car loan is used as an example in this video.
Learn how to create a loan amortization table for any loan length from start to finish.
This closely follows a previous video uploaded on this channel. One difference is this video uses a car loan as an example. The other difference is this video goes more in depth on how to change the table length for different loan periods.
Link to the original video found here:
• How to make a Loan Amo...
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Опубликовано:

17 май 2021

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Комментарии : 70

@aerynsunn7500 Год назад

Thank you sooooo much. This is what I’ve been looking for!

@CalonHeindel Год назад

Glad this was helpful! Love to hear it!

@reginaldbracken6312 7 месяцев назад

This video has been a great help!

@CalonHeindel 7 месяцев назад

Glad this was helpful!

@pickleman5014 Год назад

Hey Colon, thanks for the video man!

@CalonHeindel Год назад

Appreciate the support!

@ndihokubwayobertin6882 2 года назад

thank you my friend you are good at accounting courses

@CalonHeindel 2 года назад

Thanks for the support. I appreciate that!

@mrrubot4678 6 месяцев назад

Very cool, thank you!

@diegorendon3782 7 месяцев назад

This is a great video. Thank you.

@CalonHeindel 7 месяцев назад

Thanks! Glad you enjoyed it!

@abdirazzakmohamed3450 2 года назад

Thank you Calon

@CalonHeindel 2 года назад

No problem. Thanks for the support

@nicklaswade1957 2 года назад

Thank you good sir👏

@CalonHeindel 2 года назад

happy to help!

@seancassidy8114 2 года назад

Thanks man

@CalonHeindel Год назад

Appreciate the support!

@jjverlingieri Год назад

Thanks. My car loan doesn't look so bad afterall...lol...have to try and make principal payments. Thanks again.

@CalonHeindel Год назад

Glad this was helpful for you!

@TDensmores 4 месяца назад

I appreciate this, but it assumes the audience already knows the shortcuts, it could use a little slower paced more thorough explanation.

@CalonHeindel 4 месяца назад

Great feedback I appreciate this!

@jameslondon858 12 дней назад

Great video!!! In the beginning of the video, I’m still a little bit confused on what the formula was to come up with the $539.06 payment…..

@roger2bro Год назад

thank you :fistbump:

@CalonHeindel Год назад

Glad this could help!

@hunterturnbull Год назад

Thank you for the help! Is there a way to calculate for an annually compounded loan?

@CalonHeindel Год назад

Yes there definitely is. I don’t have a video on that yet unfortunately. That’s a great video idea for the future.

@nghongtong7124 Год назад

hi, how do you lock the cell when you drag down the payment tab?

@CalonHeindel Год назад

Lock a cell you can use “ctrl+f4” on most computers. If that doesn’t work use can manually use dollar signs like this “$A$4” for example

@czg7331 5 месяцев назад

What if you're on a mac using Numbers? I got all the way to locking the cell! Thanks@@CalonHeindel

@carlchristopher2534 2 года назад

How to handle a partial month payment at the start of the loan. Say the bank wants to have your payment date at the end of the month. Say the 28th, but it is the 15th of the month when you start the loan. Also, there bank wants to give you say a minimum of 28 days before your first payment. So, using the dates I layed out, there would be 43 days of interest, not 30 in that first payment. How can we account for this ???

@CalonHeindel 2 года назад

Alright so the easiest way to do this would skip the first month calculations and account for this in the starting Period 0 Loan balance. Then continue the formulas as the video shows, just know when it says period 1 it really would then mean period 2.

@carlchristopher2534 2 года назад

@@CalonHeindel I'm gonna try but I'm thinking there's some technicalities in there that are a little hard to handle

@CalonHeindel 2 года назад

@@carlchristopher2534 Yeah you'll need to run a separate formula to figure that out specifically. I would have to look into the exact way to do that. Let me know if you can't get it figured out.

@julietonuorah4779 10 месяцев назад

You are repaying a loan of $[A] by making payments at the end of every six months for {B] years. interest is {C]% compounded {DJ. Solve for the missing value and complete the partial amortization table below. Do not use units, negative values, or comma separators (eg. use 10000 not $10,000). {A] $42,000 {B} 8 {c} 5.92% {D} annually Pls can you tell me the PMT

@yongkahchun4964 Год назад

hi why I am different from your answer. I using the car loan calculator which is insert the loan amount, interest, and tenure is different from yours

@CalonHeindel Год назад

Tenure?

@curri9111 Год назад

My question is where do I find or how do I create one that is accurate? Without it adjusting for the differences in the loan start date and 1st payment due date it won't be accurate. For example: You purchase an auto on 01/01/2022 but your first installment is not due until 2/14/2022 (45 days). This number of days is common in an auto loan. Any help would be appreciated!!

@CalonHeindel Год назад

Great question. You’re right a lot of car loans don’t require the first payment until 45 days after signing. If that’s the case you’ll just pay more interest for the first payment. Then after that the interest and payment should be the same month to month

@curri9111 Год назад

@@CalonHeindel I tried getting the perdiem and adding it to the balance then running the schedule. Is that the incorrect way and if so how do you do it?

@CalonHeindel Год назад

@@curri9111 If im understanding you correctly then yes that would work. You could use the per diem interest to calculate the amount for the first 45 days

@curri9111 Год назад

@@CalonHeindel thank you for your quick response!

@awithglasses6350 Год назад

Is it alright If the amortization table has negative numbers like after the 0?

@CalonHeindel Год назад

Once you’re table has negative payments the loan has been paid off by then. That just means you have more room on your table then the length of the loan

@darlarock9408 Месяц назад

If I pay my payments early my interest rate fluxuates

@keamogetswetsikang8709 2 года назад

Does the principal amount include vat? Or we remove it?

@CalonHeindel 2 года назад

Generally loans In the US don’t have VAT

@babs4376 2 года назад

how do u lock

@CalonHeindel 2 года назад

Ctrl + F4. or you can manually put dollar signs anchor cells

@therealsteve3354 Месяц назад

good day sir. just trying my luck really, really hope you or someone replies to this comment. how do do you add the lock so that you can project the correct number every time?

@CalonHeindel Месяц назад

You can hit FN + F4 on most keyboards. Or add dollar signs manually

@therealsteve3354 Месяц назад

@@CalonHeindel thank you very much. i already went through some of your Excel shortcuts videos and found my answer, i am a student in Cape Town South Africa. Exams are coming up shortley and i am finding your videos very helpful. do you perhaps also have videos on Sinking funds

@beverlymanuel8435 Год назад

What if you doubled up a few months and skip a payment? Do you then make the payment amount $0? Would that void the formula in that column?

@CalonHeindel Год назад

If you skipped a payment for a month or period you would count that as $0. Which, depending on the loan would, could change the monthly payment amount or add some sort of fee.

@beverlymanuel8435 Год назад

@@CalonHeindel I see that the interest rate still applies if a payment is skipped. Thanks!

@elielsantos3921 9 месяцев назад

enquanto isso a gente aqui no Brasil com 12% ~ 15% de interest rate.

@juliemckenna3244 2 года назад

How to adjust with a fixed payment amount?

@CalonHeindel 2 года назад

Well you can do the normal calculations as the video shows do find the normal monthly payment. Then anything left over from your fixed payment amount can be put into the extra payments column.

@mjanelagarde7776 Год назад

second-hand Toyota Corolla car is priced at P320,000. The owner is asking for a 30% down payment and an installment term for 3 years at a monthly interest rate of 0.5%. How much is the amortization ?

@CalonHeindel Год назад

Not sure what you mean by “P320000”. However if you follow the along and create the template you can creat your own amortization table and find the monthly payment amount

@user-zf4ic1wo6c 10 месяцев назад

6,270 pesos. Binili mo ba?

@user-zf4ic1wo6c 10 месяцев назад

dapat mag down payment ka ng 90,000 pesos at magbayad ng 6,270 pesos every month for 3 years.

@laycismyth6584 Год назад

what if the loan is 77 months and not specified in years?

@laycismyth6584 Год назад

mine is daily compounding interest by the daily unpaid principal balance each day of billing cycle. Can you do an example of that?

@CalonHeindel Год назад

Just do 77 divided by 12. That will get you the number of years without having to change any formulas.

@noodlechrist4958 2 года назад

This is a "how-to". Why is this such a stuggle on RU-vid?:Your video doesn't actually start until 1/3 in.

@CalonHeindel 2 года назад

Sorry to hear you didn't find this video helpful. Setting up the loan amortization table does start around 1 min into the video.

@noodlechrist4958 2 года назад

@@CalonHeindel Your video was helpful. Thank you and it was appreciated. My point your audience, like any how-to audience, is looking for a answer and usually a very quick one as we sift through 1000s of videos that may (or may not) have the answer. I'd love one creator to start with "VLOOKUP as Fast a Possible", or "Learn Excel's IF Function in 60 Seconds".

@CalonHeindel 2 года назад

@@noodlechrist4958 Ya that makes sense. I appreciate the feedback, I will keep that in mind for future videos. Thank you!