+ Reply to Thread
Results 1 to 6 of 6

Loan Schedule with Balloon Payment

  1. #1
    R0bert Neville
    Guest

    Loan Schedule with Balloon Payment

    I am looking for an Excel worksheet example of a loan schedule with a
    balloon payment at the end. My internet search has not found much on
    the subject; and generally returns results about traditional loan
    payment schedules. I want to create a worksheet rather than use a loan
    calculator found on the web as well.

    This request related to new automobile financing incentive plans
    revolving around loans with balloon payment at the end. My mother is
    in the market for a new car and she recently saw an AD with this
    incentive option. An Excel solution will help me show the real costs
    associated with the loan and change numbers as when the dealer changes
    the options (apparently they never have the left from the
    advertisement). I already created a traditional loan payment schedule
    in Excel; so a balloon payment should not be far off. But I not
    entirely familiar with the math portion behind these balloon payments.
    Please let know how to create such a worksheet or the math behind
    them.


  2. #2
    Dana DeLouis
    Guest

    Re: Loan Schedule with Balloon Payment

    Microsoft's Template gallery had this, but I'm not sure if it's helpful.

    Balloon loan calculator
    http://office.microsoft.com/en-us/te...525031033.aspx

    --
    Dana DeLouis
    Win XP & Office 2003


    "R0bert Neville" <robert_neville310@yahoo.com> wrote in message
    news:sf0871d91sc357e5meku1k1p0j9sgsocuk@4ax.com...
    >I am looking for an Excel worksheet example of a loan schedule with a
    > balloon payment at the end. My internet search has not found much on
    > the subject; and generally returns results about traditional loan
    > payment schedules. I want to create a worksheet rather than use a loan
    > calculator found on the web as well.
    >
    > This request related to new automobile financing incentive plans
    > revolving around loans with balloon payment at the end. My mother is
    > in the market for a new car and she recently saw an AD with this
    > incentive option. An Excel solution will help me show the real costs
    > associated with the loan and change numbers as when the dealer changes
    > the options (apparently they never have the left from the
    > advertisement). I already created a traditional loan payment schedule
    > in Excel; so a balloon payment should not be far off. But I not
    > entirely familiar with the math portion behind these balloon payments.
    > Please let know how to create such a worksheet or the math behind
    > them.
    >




  3. #3
    R0bert Neville
    Guest

    Re: Loan Schedule with Balloon Payment

    On Sat, 30 Apr 2005 18:22:12 -0400, "Dana DeLouis"
    <delouis@bellsouth.net> wrote:

    >Microsoft's Template gallery had this, but I'm not sure if it's helpful.
    >
    >Balloon loan calculator
    >http://office.microsoft.com/en-us/te...525031033.aspx



    Thanks Dana.

    The template works.

    Does anyone know the math portion? The information will help me
    customize the template.

  4. #4
    Lewis Clark
    Guest

    Re: Loan Schedule with Balloon Payment

    You can use the IPMT and PPMT functions to find the interest and principle
    payments during each payment period, and the PMT function to find the total
    principle and interest payment.

    With a balloon loan, you usually just make interest payments each month.
    Then when the time for the balloon payment arrives you are paying back all
    of the still-outstanding principle.

    What sort of customizing are you looking to do?


    "R0bert Neville" <robert_neville310@yahoo.com> wrote in message
    news:12qb71l8ppfhsd3q0noqg196d3lq9kjeuj@4ax.com...
    > On Sat, 30 Apr 2005 18:22:12 -0400, "Dana DeLouis"
    > <delouis@bellsouth.net> wrote:
    >
    >>Microsoft's Template gallery had this, but I'm not sure if it's helpful.
    >>
    >>Balloon loan calculator
    >>http://office.microsoft.com/en-us/te...525031033.aspx

    >
    >
    > Thanks Dana.
    >
    > The template works.
    >
    > Does anyone know the math portion? The information will help me
    > customize the template.




  5. #5
    Robert Neville
    Guest

    Re: Loan Schedule with Balloon Payment

    On Mon, 02 May 2005 13:18:48 GMT, "Lewis Clark" <lewis_clark_644 @
    yahoo.com> wrote:

    >You can use the IPMT and PPMT functions to find the interest and principle
    >payments during each payment period, and the PMT function to find the total
    >principle and interest payment.
    >
    >With a balloon loan, you usually just make interest payments each month.
    >Then when the time for the balloon payment arrives you are paying back all
    >of the still-outstanding principle.
    >
    >What sort of customizing are you looking to do?
    >

    My concern in a balloon loan calculator relates to an automobile
    purchase. Customizing the worksheet means allowing one to find the
    interest from terms, pmt, balloon payment; finding the pmt from terms,
    interest, balloon payment; finding the balloon payment from term,
    interest, and pmt. In addition, I need to customize it to include all
    other automobile purchase fees.

    I am just looking for a few references on the math portion as I work
    to reassemble the worksheet. But your suggestions on functions does
    lead me in the right direction.


  6. #6
    Robert Neville
    Guest

    Re: Loan Schedule with Balloon Payment

    On Mon, 02 May 2005 13:18:48 GMT, "Lewis Clark" <lewis_clark_644 @
    yahoo.com> wrote:

    >You can use the IPMT and PPMT functions to find the interest and principle
    >payments during each payment period, and the PMT function to find the total
    >principle and interest payment.
    >
    >With a balloon loan, you usually just make interest payments each month.
    >Then when the time for the balloon payment arrives you are paying back all
    >of the still-outstanding principle.
    >
    >What sort of customizing are you looking to do?


    Here's another excellent template site.
    http://www.vertex42.com/ExcelTemplat...alculator.html

    After reviewing these Excel spreadsheets, they seem straight-forward.
    I still need to customize the template for my application, buying a
    car for mom.

    Basically, the template should help me analyze the dealer's offer; and
    their subsequent counter-offer. The incentive plan is a balloon
    payment plan: $269 a month, 48 months until the balloon, $10,500
    payment at the end. They make no mention of the total purchase price,
    amortization term, or interest rate. What questions do I need to ask
    the dealer to develop a viable Balloon Payment Calculator?

    I have to develop worksheets to figure out the purchase price,
    interest rate, and payments. In case the dealer only gives me a subset
    of the information.




+ Reply to Thread

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Search Engine Friendly URLs by vBSEO 3.6.0 RC 1