This Rental Only Finance calculator helps you work out what your regular payments during and after rental only period will be based on your finance amount. Payments frequency can be changed to monthly, fortnightly or weekly. Calculate both Principal and Rental Payments for a finance term.
- It does not take into account any possible up-front fees. Only Ongoing fees are used not Upfront or End of finance fees (i.e. discharge costs)
- Rental rate does not change over the finance term.
- Rental is calculated by compounding on the same payment frequency selected, i.e. weekly, fortnightly, monthly. In practice, rental compounding frequency may not be the same as payment frequency.
- It is assumed that a year consists 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
- No rounding is done throughout calculation whereas Payments are rounded to at least the nearer cent in practice.