Add a car (or anything) bought with a loan
- Open Accounts and add an account with the type Loan, with the amount you owe.
- Under Loan money went into, choose Something I bought with it and name it (e.g. Toyota Corolla).
- Add the down payment and the account it came from. The car is added as something you own, worth the loan plus the down payment; nothing counts as spending.
- Then open the loan and Set up loan details (car loans are usually Flat rate), with a final (balloon) payment if your loan has one.
In the app: Open Accounts
More in People, loans and assets
- Track money you lend or borrow
- Pay someone back (or get paid back) in parts
- Pay back more than you owe
- Write off or forgive a debt
- Track a loan and its monthly payments
- A loan with a big final (balloon) payment
- Record the money from a loan
- Record loan payments automatically
- Pay extra on a loan or pay it off early
- Add a late fee or penalty to a loan
- See your debt, payoff and interest