Secured Loan Calculator

Introduction

A secured loan is a loan backed by the borrower's collateral; the collateral is forfeited to the lender if the borrower cannot pay the loan. Secured loan calculators help borrowers estimate the monthly cost and interest of a loan so they can decide if they'll be able to make loan payments and what terms will be best for their finances.

Step 1:

About Secured Loan Calculators While not all online secured loan calculators are identical, you should be able to enter basic information on all of them, such as:
The loan amount.
The total amount of money you will borrow.
The repayment period.
Also known as the term of the loan or the life of the loan, this is the number of months or years you have to pay off the loan.
The interest rate.
The exact interest rate on your loan.


Step 2:

Check Your Loan Provider's Website Often your potential lender (the bank or lending institution) will have a secured loan calculator available on their website.
Step 3: Search Online If your loan provider does not have a secured loan calculator, just type "secured loan calculator" into your favorite search engine and select from the results.

Source :
http://www.mahalo.com