Thursday, December 28, 2023

How Much Car Can I Afford?

Learn to accurately calculate the maximum price of a car that fits within your budget using the Goal Seek feature in spreadsheet software. This instructional video guides you through setting up key parameters: the total price of the car, the loan term in months, and the monthly interest rate (annual rate divided by 12). Start by using the PMT function to estimate your initial monthly payment. Then, delve into the 'what-if' analysis by employing Goal Seek, a powerful tool that helps adjust the car price to ensure your monthly payments remain affordable. This tutorial is perfect for anyone looking to make informed financial decisions when purchasing a vehicle.

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