Equity-4-U Calculator







		Equity-4-U Biweekly Plus Calculator You can use the Equity-4-U loan calculator to see how your loan payments would be effected if you used Equity-4-U Biweekly Plus or Biweekly programs. You can quickly see how much money you can save.

Equity-4-U Biweekly Plus Calculator
Loan Amount (Less F&I Products):	US Dollars
Total F&I Products:	US Dollars
Interest Rate:	%
Term (Paying Monthly):	Months
Enrollment Fee:	US Dollars
Days Until First Payment:	Days
Loan Origination Date (Optional):
Customer Name (Optional):


	Biweekly Payment (Includes F&I Products(s))	Conventional Monthly Payment (No F&I Products)
Total Loan	$0.00	$0.00
Payment	$0.00 Biweekly	$0.00 Monthly
Contract Term	2 Months	0 Months
Payoff Term	0 Months	0 Months

Payment Due Date (Loan Origination Date + 45 Days)
First Full Debit Date
Biweekly (Recurring) Debit Date

The payment calculator is for demonstration purposes only. Any changes in interest rate, refinance of the subject loan, or additional payments will have a significant affect on the savings & payment schedules. Some of the figures are ESTIMATES and do not include the enrollment fee or banking service fee. The effective interest rate calculation includes the accelerated payments. For further detail regarding the calculations, please refer to the Dealer Information page.

*Using a biweekly payment schedule, one can greatly reduce the duration in which one would normally pay a loan by only adding two extra half payments per year. The new loan will therefore be paid off in a new lower number of months, which we will call M, instead of the original number of months explicitly stated on the original loan statement. We can now define an effective interest rate, which we will define as the interest rate at which the original loan amount would be paid off using the original monthly payment over the new reduced time period of M months. Using the standard loan payment calculation this new effective rate can be easily calculated:

Payment Calculation

We calculate this by using this formula and a simple loop which converges to the solution for "Effective Rate" that matches for any given Loan Amount, Payment and reduced payoff time, M. Note, that M has a minimum value of Loan Amount/Payment at which point the Effective Rate is zero (i.e. no interest paid, since at that point, Loan Amount = Payment x M )

Equity-4-U Biweekly Plus Calculator