Monthly Archives: May 2013

Use This Payment Calculator to Estime Car Loan Payments

Everyone knows how to use payment calculators. In fact, most people can figure the formula out on a simple calculator bought from the dollar store. These calculators have been replaced by the cell phone in many cases, but advances in technology do not change the math available. A paymentbot is a specific piece of software designed to help people figure out how much they will pay on car loans, home loans, and on credit card balances.  It does all of the math for the individual, provided he supplies a few simple numbers.  Even if a person can do it on his own, he may find the paymentbot a useful tool because of current business practices.

Fees are part of modern banking.  Everyone who has even used an automatic teller machine lately knows this.  What the borrower may not realize is that financial lending institutions also like to charge hidden fees. These hidden fees get included into the cost of the loan. Federal, state and sometimes local governments can add to the payment through taxes.  A paymentbot written by a bank, and usually coded in Java or Javascript, can take all of this into account.  They will add the fees, taxes, and other items onto the total cost of the loan and calculate how much the user will pay to service the loan each month.

If someone wants to know if he can make the payment on a mortgage or a car loan, he can use the paymentbot to get the amount. If he has a specific lender in mind, he can use that software. If he just needs to get a general figure so he can plan or postpone his purchases accordingly, a number of different tools are available to help the cautious consumer. The unwary consumer may want to pay attention to their predictions as well.