I'm looking at this online calculator and I cant see what formula they are using to calculate the repayments
Example 6000 at a flat rate loan over 24 months with interest of 5.6% is
(6000 * 0.056 * 2) + 6000 / 24 gives 278 per month whereas there's is 264. Most car finance companies in the uk are flat rate :( so I was wondering what these guys are using.
The interest rate for each credit rating can easily be seen in the html
The APR isnt of interest at this point