Auto Finance Professional Finance App Review (iOS, $6.99)

 

Languages: English

Seller: Business Compass LLC

Integrated social networks.

FinancePaidIOS

Description

Auto Finance Professional is the comprehensive auto finance application. App displays easy to understand graphs and charts. Amortization input data is saved and retrieved later.

Key Features:

1. Amortization
2. Comparison
3. Lease
4. Lease vs. Buy
5. Hybrid Break-Even-Point
6. What-if Analysis
7. Amortization input data is saved
8. Total Interest vs. Principle pie chart for Amortization is displayed
9. Bar chart comparing monthly payment, total loan payment vs. total interest paid is displayed

Detail:

1. Amortization -

a. Input: MSRP, Trade-in-value, Amount owed on trade-in, down-payment, sales tax, loan term in years/month, interest rate, optional extra payment per period and number of payments per year (by default it is 12/year or monthly)
b. Summary: Loan summary
c. Schedule - Period wise beginning balance, ending balance, interest, principle yearly

2. Comparison - Add one or more auto loans and the summary presented

3. Car Lease - Calculates lease payment or money factor.

a. Input - MSRP, Base Cap Cost, Additional Lease Cost, Down Payment, Trade-in credit, Other deductions, Residual Value (actual amount in $ or % of MSRP), Money Factor (% or absolute), Lease Term in months, Sales Tax % and Lease Payment



b. Summary -

If Money Factor is supplied, lease payment is calculated. Total lease cost is presented.

If Lease Payment (including tax) is supplied, money factor is calculated

4. Lease vs. Buy - Accepts loan and lease input and calculates lease and loan summary

5. Hybrid Break even Point - Calculates Fuel Price or Miles Driven.

a. Input - Fuel price (to calculate miles driven), purchase price of hybrid & non-hybrid, hybrid tax rebate, add miles driven/year, add hybrid & non-hybrid maintenance cost, discount rate

b. Calculates fuel price if miles supplied. Calculates miles if fuel price is supplied

6. What if analysis - Calculates one of 4 variables (Principle, Time, Payment, Interest) while other 3 are supplied

Customer Reviews

  • App looks nothing like what is represented online. Very disappointed.

    by Drewtrac

    No first payment date field and no ability to configure preferences. Unless I'm missing something this app stinks.

  • Consumer

    by Granitewalker007

    Doesn't work. Calculations are off

  • Auto Finance Professional - Really?

    by 4biddin

    Sorry to say, but I bought this since I noticed that it offered a Break Even Point for Hybrid purchase comparisons. This ap gave me the same results regardless of the cost of vehicle in question, or the cost of fuel. Everytime it registered 97000+ miles to Break Even. After that oddity, I tried to see what a vehicle purchase would be ... should be straight forward, but the ap determined that I needed to make payments for 720 months (instead of 60 months) regradless if I indicated Month or Year method to compute the number of payments to use in the calculations for ammortization. The Principle Amount was very low, as was the Interest ... yet at the end of 720 months, the Total Cost was HUGE! So... something is wrong with the program's software engine. I'll try to contact the offered Support Dept. for this one, but meanwhile, be careful, watch the ratings and comments - then hope for an updated version. As always, your mileage may vary.

Screenshots

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