Notes on Using the Vehicle Payments Calculator
- This calculator may be used for any financing arrangement (Installment Sale Agreement , Lease or Rental Agreement) For a detailed discussion on the different vehicle financing schemes.
- The loan amount is the amount that you intend financing - if you are paying a deposit deduct that from the total purchase amount to get your loan amount.
- If you aren’t using a residual or balloon payment in your financing arrangement please input zeroes , the calculator defaults to a residual/ balloon payment of 40% , but you can change this. For a more detailed discussion of residual vs balloon payments.