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Flex 2010
Flash 2009
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LuxFinance
> Car Loan Repayments
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<calculator> <variables> <LoanAmount type="num" default="30000" min="1000" max="500000" /> <LoanAmountRanges value="0,100000,200000,300000,500000" /> <LoanAmountValues value="1000,50000,50000,50000" /> <LoanAmountInputMax value="500000" /> <LoanTerm type="num" default="5" min="1" max="7" /> <InterestRate type="num" default="7" max="20" min="0.1" /> <BalloonPayment type="num" default="50" min="10" max="50" /> <AssumptionText type="cdata"><![CDATA[<p><b><font size="+1">Calculator Information</font></b></p><p>The Loan Repayments Calculator calculates the type of repayment required, at the frequency requested, in respect of the loan parameters entered, namely amount, term and interest rate.</p><br /><p><b><font size="+1">Calculator Assumptions</font></b></p><p><b>Length of Month</b></p><p><br />All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days' interest dependent on the number of days in the particular month.<br /></p><p><b>Number of Weeks & Fortnights in a Year</b></p><br /><p>One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.</p><br /><p><b>Rounding of Amount of Each Repayment</b></p><p><br />In practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts.</p>]]></AssumptionText> </variables> <components> <BalloonPaymentMessage><![CDATA[<strong>Balloon Payment</strong><br /><br /> <p> Balloon payments are only available to approved customers. A balloon is an amount that is owed as a lump sum payment at the end of your loan. This can help reduce your repayment amounts during the term of your loan. Balloon payments are an option for customers who intend to changeover or sell their vehicle at the completion of the loan and use the proceeds from these events to repay the final balloon amount. </p>]]></BalloonPaymentMessage> </components> </calculator>
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