Using the Auto Loan Guide

Using the Auto Loan Guide

Click the Auto loan button from the guide screen. The Auto loan dialog window is displayed as shown below with its standard defaults. This guide's assumptions are listed in the box above the input fields.

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Auto loan dialog input fields

Note: Use [Tab] to move from field to field or click within each field.

  • Start date The start date defaults to the current date. Click in the Start date field and enter a date or click the Calendar button and select the desired date. (See Date shortcuts.)
  • Loan amount Type the dollar amount of the loan. For this example 25K (for 25,000.00) was entered. (See Amount shortcuts.)
  • Loan term (in years) The drop-down list has 3 options: 3, 4, or 5 years. You can choose an option from the drop-down list or type 3, 4, or 5 in the Loan term field. For this example [Tab] (for default of 4 years) was entered.
  • Interest rate This is a percent field where the interest rate of the loan should be entered. For this example 2.99 was entered (for 2.99%).
  • Create Builds the cash flow based on all entered data.

The pre-populated Cash Flow Data window should now appear as shown below. The cash flow can be further adjusted to fit your specific auto loan scenario.

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Cash Flow Data fields

  • Label field includes the name of the guide used. (See Edit the Label field.)
  • Compounding Period is set to Monthly per this guide's assumptions.
  • Nominal Annual Rate is set to the Interest rate of 2.99%.
  • The calculation settings per this guide's assumptions (Normal amortization and a 365 day year) are displayed at the bottom left. You can click on the displayed settings to quickly access the Calculations group on the Configuration ribbon where you can change these settings.

Cash Flow Matrix fields

  • Start date The Date in the Loan Event (line 1). Also notice the Date in the Payment Event (line 2) is one month after the Start date per this guide's assumptions.
  • Loan amount The Amount - 25,000.00 - in the Loan Event (line 1).
  • Loan term (in years) The Number in the Payment Event (line 2) = 48 (4 years).