Amortization Schedule Template?

[Smokewagun]

Ford can’t seem to understand what I’m looking for.
Does anyone have an Excel file for an amortization schedule that fits the Ford Flex Pay Plan?
My Mom and sister just bought new Explorers on the Flex Pay, and they’d like to play with payment options to possibly cut down time and interest.
Thank you!

Sponsored

 

[powerboatr]

Best bet. Is sit on phone with ford motor credit..might take a few transfers to get the person that can help
I have used them numerous times before for not normal questions...it takes some drilling to get the brains that can seek and find
What you want is there. .
Excell has some built in spreadsheets for amortization, you might be able to use with some math modifications
I can personally...they helped me

 

[cheesedogf150]

ask your fav flavor of gen ai to create you one

 

[JohngaltinOC]

Ford can’t seem to understand what I’m looking for.
Does anyone have an Excel file for an amortization schedule that fits the Ford Flex Pay Plan?
My Mom and sister just bought new Explorers on the Flex Pay, and they’d like to play with payment options to possibly cut down time and interest.
Thank you!

Just Google - excel spreadsheet amortization loan "principle reduction" free download - and I bet $5 bucks you'll get just what you need....I have one somewhere but it would be faster to do the above.

 

[Smokewagun]

Principal reduction doesn’t register with the type of loan the Ford Flex Buy is. There is no option to change the terms on and after the 37th month. Frankly, I don’t think Ford offers me enough information to effectively calculate the two sets of amortizations except the 1.9% interest rate, and I guess, the starting balance at month 37.

 

[JJSnell]

TValue is an amortization program for your PC.

I also have this program on my Droid.
Has MULTIPLE different calculators in one. Looks like even has an Auto Calculator with a built in amortization scheduler.

Love it.
It's simply called "Financial Calculators".

 

[JohngaltinOC]

Principal reduction doesn’t register with the type of loan the Ford Flex Buy is. There is no option to change the terms on and after the 37th month. Frankly, I don’t think Ford offers me enough information to effectively calculate the two sets of amortizations except the 1.9% interest rate, and I guess, the starting balance at month 37.

Unfortunately, I know nothing about the Flex Buy program. My spreadsheet had an entry for extra monthly amount (like add $100/mo) or option to look at what if I pay $2000 in month #12 and $1000 in month #20, etc,. etc. BUT, I gotta ask, why in the world would you speed up paying off a loan at $1.99%? They're paying you to borrow that money. Inflation is 4%+. I would think about taking the extra money & put it in a money market or other (safer) investment yielding 3-5% and you can always get to that money down the road to pay off truck early OR use it for other opportunities or emergencies. Once you pay loan you can't claw that money back in emergency. Food for thought friend... ?

 

[UGADawg96]

Unfortunately, I know nothing about the Flex Buy program. My spreadsheet had an entry for extra monthly amount (like add $100/mo) or option to look at what if I pay $2000 in month #12 and $1000 in month #20, etc,. etc. BUT, I gotta ask, why in the world would you speed up paying off a loan at $1.99%? They're paying you to borrow that money. Inflation is 4%+. I would think about taking the extra money & put it in a money market or other (safer) investment yielding 3-5% and you can always get to that money down the road to pay off truck early OR use it for other opportunities or emergencies. Once you pay loan you can't claw that money back in emergency. Food for thought friend... ?

All Ford is doing here is taking a traditional 60 month loan, extending it to 66 or 75 months and delaying some of the principle payments to reduce the first three years of payment amounts by 15-18%, but you'll end up paying more interest over that time.

https://www.zeiglerfordofnorthriverside.com/ford-flex-buy-program.htm

OP: If you've signed a 5-6+ year loan, playing with payment options to possibly cut down time and interest is really moot in month two of a loan when it won't reduce the payment amounts. If you can afford to throw extra cash at the loan, parking it at Fidelity would give you a better return as they are currently paying 4.96% for a savings account.

Sponsored