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Calculation Of Car Loan Interest Rate

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jovially:
I need some advise, hopefully bros & sis in this forum can help.
How the bank calculate the early settlement of the car loan?
is there a formula to follow?

valeon:

Check your Hire Purchase agreement with the finance company, should be able to get the formula from there. I think I saw it before.

haar-b:
anyone know how can i get my car refinace/

 :devil2: :devil2:

KEL:

--- Quote from: jovially on September 25, 2010, 11:53:13 AM ---I need some advise, hopefully bros & sis in this forum can help.
How the bank calculate the early settlement of the car loan?
is there a formula to follow?

--- End quote ---

Most banks use 'Rule of 78'.

You can check this out:

http://www.sgcarmart.com/news/writeup.php?AID=61

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