Singapore Nissan Owners Group

Nissan Car Lounge - Almera, Juke, Latio, Qashqai, Sylphy, Teana Owners => Latio => Topic started by: jovially on September 25, 2010, 11:53:13 AM

Title: Calculation Of Car Loan Interest Rate
Post by: 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?

Title: Re: Calculation Of Car Loan Interest Rate
Post by: valeon on September 25, 2010, 12:21:59 PM

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

Title: Re: Calculation Of Car Loan Interest Rate
Post by: haar-b on March 13, 2011, 02:54:10 AM

anyone know how can i get my car refinace/

 :devil2: :devil2:

Title: Re: Calculation Of Car Loan Interest Rate
Post by: KEL on March 14, 2011, 02:41:49 AM

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?

Most banks use 'Rule of 78'.

You can check this out:

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