Easy Car Loan Amortization Schedule With Extra Payments | Google Sheets & Excel

In this video I explain how to create a car loan amortization schedule in Google Sheets and Microsoft Excel. This is a useful exercise to calculate the repayments on a car loan, splitting out the principal and interest components, with the option to add extra payments. It will also work for mortgage loans, personal loans, student loans, basically any loan with a fixed structure and interest rate. This will allow you to make smarter financial decisions when empowered with a detailed loan schedule. We could choose to settle the loan early, debt restructure, take a longer/shorter term, change the repayment frequency, among a range of other alternate options. The overall interest paid will reduce in the case you reduce the loan term, increase the installments per term (more compounding), and making additional repayments. The car loan schedule I create has a few columns, namely the loan balance, the installment amount, the P&I (principal and interest) split of each installment, and the option to add additional extra payments. Learn how to create an easy car loan amortization schedule with extra payments using Google Sheets and Excel. This step-by-step tutorial will help you stay on track with your loan payments and save money on interest. Perfect for anyone looking to manage their loans efficiently! // SOCIAL 🌏 Follow Me On Instagram @brentcolemaninvesting // USEFUL LINKS ✅ Sharesight (NZ/AU/US/UK) 4 Months Free: https://sharesight.com.au/brentcoleman ✅ Dosh NZ - Best Way To Pay: https://dosh.nz/app and use my referral code 00030886 ✅ Get $5 FREE with Sharesies (NZ/AU): https://sharesies.com/r/C744KD ✅ Get $45 with DoorDash: https://drd.sh/yzemFEO8gYRTjiKt ✅ Free Month Car Insurance https://coveinsurance.co.nz/referred/... ✅ Get $10 FREE with Hatch Invest (NZ): https://app.hatchinvest.nz/share/hmwy... ✅ Hnry (NZ) Free $25 Freelance Accountant: https://app.hnry.io/r/BRENT82488 I include these links as they often provide a benefit to my viewers. I might receive a commission from these companies, or other third parties, in the case a purchase is made either using a link or signing up for a service via a code. This helps me create high-quality content and I thank you for your support. // TIMESTAMPS ► 0:00 Intro ► 0:21 Create The Schedule ► 6:13 Extra Payments ► 7:05 Longer Term ► 7:49 Outro Disclaimer: I am not a financial adviser. This video is for education and entertainment purposes only. Seek professional help before making any investment decision. Song: Skylines - Anno Domini Beats YouTube Studio Copyright Free Music