Auto Loan in PayEsTor 1.5

 < View for Auto Loan >

if you want to estimate how much you have to pay, choose "AutoLoan" from Combobox. then you can see:

1. Lender: name of the financial institute will lend money to you. (e.g., Bank of America) you can enter this here.

2. MSRP(car): an acronym for Manufacturer's Suggested Retail Price. But this is just a recommendation from Manufacturer. actual price from local dealership can be lower or higher.

3. Down Payment: initial sum of money applied to a purchase being financed by the purchaser. When making a large purchase, many buyers will pay some of that cost upfront in the form if a down payment in order to reduce the amount oif money to be financed.

4. Rate: interest rate used in the deal.

5. Terms(mos.): the length of the deal.