what if payoff tool

JCJC Member
FYI - 2017 Windows Quicken - The what if tool in loans STILL doesn't work in the new version!!!!- It only calculates for the current month if you add an extra payment - not over the life of the loan adding additional $ per month.....the old version used to do it over the life of the loan.
I have reviewed several comments associated with this problem on your support/comment sites and it is irritating that you are not fixing a problem you have known about for some time. Basically 'patting the user on the head' and saying to use the debt reduction section. Well excuse me but that new section doesn't do what your users need or require.
FIX THE WHAT IF TOOL!!!!!
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  • mshigginsmshiggins SuperUser
    edited March 2017
    I'm not sure I'm following. Are you having trouble with the loan what if tool and the debt reduction planner?
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • JCJC Member
    edited August 2017
    what if pay off tool
  • NotACPANotACPA SuperUser
    edited October 2018
    Did you use the box that I've highlighted?  Sure look to me like it works.image

    image

    QW2016 H&B
    Q user since DOS version 5
    Now running Quicken Windows Subscription
    Retired "Certified Information Systems Auditor"
  • JCJC Member
    edited August 2017
    That is the debt reduction tool - not the loan 'what if"
    pay off tool
  • JCJC Member
    edited September 2017
    image
  • JCJC Member
    edited August 2017
    This is what I'm seeing. And the 'what if' on the loan isn't calculating.
  • mshigginsmshiggins SuperUser
    edited December 2016
    JC said:

    image

    Did you click the See Results button?
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • JCJC Member
    edited April 2018
    JC said:

    image

    Yes the results yield only one month change and not the 'over the life of the loan' results.
  • mshigginsmshiggins SuperUser
    edited December 2016
    JC said:

    image

    I did not ask about results. I asked if you have clicked the See Results button. Please try clicking the See Results button.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • NotACPANotACPA SuperUser
    edited October 2018
    OK, using the What if tool ... it still works for me.

    image

    image
    Q user since DOS version 5
    Now running Quicken Windows Subscription
    Retired "Certified Information Systems Auditor"
  • Pete RaymondPete Raymond Member
    edited October 2018
    I'm having the same problem as JC.  I can input $1500.00 into the, 'I paid an extra ____ in principal per payment (Monthly)' and it only calculates for one month, not the life of the loan.

    JC's initial explanation was clear.  [Removed comment attacking other user: Please post within community guidelines].  The 'What if' tool used to work on my 2016 Quicken.  When it stopped working, it occurred at the convenient time to upgrade to 2017.  The tool still doesn't work.
  • NotACPANotACPA SuperUser
    edited December 2016

    I'm having the same problem as JC.  I can input $1500.00 into the, 'I paid an extra ____ in principal per payment (Monthly)' and it only calculates for one month, not the life of the loan.

    JC's initial explanation was clear.  [Removed comment attacking other user: Please post within community guidelines].  The 'What if' tool used to work on my 2016 Quicken.  When it stopped working, it occurred at the convenient time to upgrade to 2017.  The tool still doesn't work.

    Then why DOES it work, as demonstrated, for me?  There's no point in addressing other users as if we can't read what's in front of us.

    Have you tried validating your data file?  Have you tried experimenting in an otherwise empty file?  What have you done ... besides complain?
    Q user since DOS version 5
    Now running Quicken Windows Subscription
    Retired "Certified Information Systems Auditor"
  • Pete RaymondPete Raymond Member
    edited October 2016

    I'm having the same problem as JC.  I can input $1500.00 into the, 'I paid an extra ____ in principal per payment (Monthly)' and it only calculates for one month, not the life of the loan.

    JC's initial explanation was clear.  [Removed comment attacking other user: Please post within community guidelines].  The 'What if' tool used to work on my 2016 Quicken.  When it stopped working, it occurred at the convenient time to upgrade to 2017.  The tool still doesn't work.

    You sir, are a pompous jerk.  I did not complain other than to point out that mshiggins used a condescending tone when answering to a post.

    It doesn't matter that you can't replicate the problem.  I posted an issue of an identical nature which you have dismissed as the result of unintelligent, rank beginner incapable of pursuing problem solving techniques.

    This forum is a waste of time.  Go crawl back into your digital hole.
  • LuisLuis Member
    edited March 2017
    I am using 2014 Quicken and the loan What If Tool does not work. I have a 350,000 loan in Quicken and if I enter just for kicks the option to pay an extra 10,000 per month my loan is reduced from a 30 year pay off to approximately a 28.5 year pay off. Not exactly a correct calculation.
    image
  • LuisLuis Member
    edited November 2016
    Luis said:

    I am using 2014 Quicken and the loan What If Tool does not work. I have a 350,000 loan in Quicken and if I enter just for kicks the option to pay an extra 10,000 per month my loan is reduced from a 30 year pay off to approximately a 28.5 year pay off. Not exactly a correct calculation.
    image

    As noted above Quicken is calculating just the first month and not subsequent months. Quicken has obviously known about this for a long time. How about fixing it.
  • LuisLuis Member
    edited November 2016

    I'm having the same problem as JC.  I can input $1500.00 into the, 'I paid an extra ____ in principal per payment (Monthly)' and it only calculates for one month, not the life of the loan.

    JC's initial explanation was clear.  [Removed comment attacking other user: Please post within community guidelines].  The 'What if' tool used to work on my 2016 Quicken.  When it stopped working, it occurred at the convenient time to upgrade to 2017.  The tool still doesn't work.

    In order to make the What If Tool work I had to delete the account and set it up manually. Previously I had it linked to my mortgage company, Chase, and set it up using the automatic set up tools. 
  • LuisLuis Member
    edited November 2016
    Luis said:

    I am using 2014 Quicken and the loan What If Tool does not work. I have a 350,000 loan in Quicken and if I enter just for kicks the option to pay an extra 10,000 per month my loan is reduced from a 30 year pay off to approximately a 28.5 year pay off. Not exactly a correct calculation.
    image

    In order to make the What If Tool work I had to delete the account and set it up manually. Previously I had it linked to my mortgage company, Chase, and set it up using the automatic set up tools. 
  • mshigginsmshiggins SuperUser
    edited December 2016

    I'm having the same problem as JC.  I can input $1500.00 into the, 'I paid an extra ____ in principal per payment (Monthly)' and it only calculates for one month, not the life of the loan.

    JC's initial explanation was clear.  [Removed comment attacking other user: Please post within community guidelines].  The 'What if' tool used to work on my 2016 Quicken.  When it stopped working, it occurred at the convenient time to upgrade to 2017.  The tool still doesn't work.

    Ah. Finally a reason it doesn't work. Online loan.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • mshigginsmshiggins SuperUser
    edited January 2017
    Luis said:

    I am using 2014 Quicken and the loan What If Tool does not work. I have a 350,000 loan in Quicken and if I enter just for kicks the option to pay an extra 10,000 per month my loan is reduced from a 30 year pay off to approximately a 28.5 year pay off. Not exactly a correct calculation.
    image

    Humm. I have an old file with an online enabled loan. Resurrected that file and the What If tool works just fine.

    1. Enter an amount to pay extra each month.
    2. Click See Results.
    3. The graph and amounts update to reflect paying that amount extra each month.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • CindyCindy Member
    edited February 2017
    Luis said:

    I am using 2014 Quicken and the loan What If Tool does not work. I have a 350,000 loan in Quicken and if I enter just for kicks the option to pay an extra 10,000 per month my loan is reduced from a 30 year pay off to approximately a 28.5 year pay off. Not exactly a correct calculation.
    image

    On my mortgage (in 2017), the What If tool is counting the Escrow amount as if it was paying towards Principal. 
  • Clint AdamsClint Adams Member
    edited April 2018
    JC said:

    image

    I'm sorry, but reading this thread is somewhat disturbing. It is obvious that JC knows what they are talking about. For a "SuperUser" to be asking these questions is absurd. Running Quicken 2017 Deluxe I noticed that when I modified the monthly extra payment very little happened to the graph AFTER I CLICKED THE "SEE RESULTS" button.

    Increased the amount to an absurd amount to pay monthly ($10,000) and the loan payoff was only reduced by like 1 year. Checked the radio button for single payment and had same results, so obviously the monthly additional payment isn't getting calculated monthly.

    This level of support and this obvious of a bug makes me pretty nervous about trusting Intuit with my finances. 

    Update: Added another dummy mortgage account to the same file and got that one to work. So looks like the online accounts need to be fixed, or at a minimum disable the feature if it's an online account.
  • hari charanhari charan Member
    edited April 2017

    Did you use the box that I've highlighted?  Sure look to me like it works.image

    image

    QW2016 H&B

    quicken technical support, quicken customer support, quicken tech support, quicken support phone numberContact Quicken Technical Support Help Phone Number : 1-800-315-8369
    <a href="http://quickensupporthelp.us/"><b>; quicken support </b></a>
  • gmalis1gmalis1 Member
    edited April 2017
    JC said:

    image

    If you download transactions from a mortgage company, the What If won't work properly...because the data downloaded from your mortgage company is flawed.

    Set up a manual loan...like EVERYONE else recommends...and you'll get the correct result.  Takes about 2 minutes to do it...ONCE...and then you get the results you're looking for.

    image

    And yes, us Superusers know what we're talking about...and don't appreciate being degraded and debased by others who "think" they know the answer...when they don't.

    If you would have searched on this forum, downloading from your mortgage or loan company is NOT the suggested way to track your mortgage.  And you can't download an auto loan or HELOC either because of the interest calculation.

    You can continue to download from your mortgage company...and you'll continue to get flawed or just plain wrong results in your calculations.   
  • Johnny CJohnny C Member
    edited October 2018
    I set up a two year old mortgage and tried to link to my mortgage company but the link was not successful.  Now I have the same problem as others in that the what if tool is useless.  I do not see a way to clear any link with the mortgage company.  I have 24 months of payments with P&I split detail.  Do I have to re-enter this in a new mortgage to make the what if tool useable?  I hope there is a simpler fix.
  • edited April 2017
    Johnny C said:

    I set up a two year old mortgage and tried to link to my mortgage company but the link was not successful.  Now I have the same problem as others in that the what if tool is useless.  I do not see a way to clear any link with the mortgage company.  I have 24 months of payments with P&I split detail.  Do I have to re-enter this in a new mortgage to make the what if tool useable?  I hope there is a simpler fix.

    You need to convert your loans to manual for the What-If tool to work properly. See the following tutorial on how to convert:

    https://getsatisfaction.com/quickencommunity/topics/faq-how-do-i-convert-a-loan-account-that-automat...
  • edited April 2017
    Johnny C said:

    I set up a two year old mortgage and tried to link to my mortgage company but the link was not successful.  Now I have the same problem as others in that the what if tool is useless.  I do not see a way to clear any link with the mortgage company.  I have 24 months of payments with P&I split detail.  Do I have to re-enter this in a new mortgage to make the what if tool useable?  I hope there is a simpler fix.

    You can't convert an online activated Loan account to manual, you can only close that one and create a new Manual account.

    The reason for this is to prevent getting mixed calculations between the FI data and any manual data that can affect the amortization schedule.

    The problem reported on this post is due to the inability to modify an activated loan to properly get the What If tool to update as expected.

    We have asked PD to either remove What If from activated loans or to create a substitute that allows the users with activated loans run their own scenarios.
  • Johnny CJohnny C Member
    edited April 2017
    Johnny C said:

    I set up a two year old mortgage and tried to link to my mortgage company but the link was not successful.  Now I have the same problem as others in that the what if tool is useless.  I do not see a way to clear any link with the mortgage company.  I have 24 months of payments with P&I split detail.  Do I have to re-enter this in a new mortgage to make the what if tool useable?  I hope there is a simpler fix.

    Thanks for the reply. I understand I cannot use the tool. However, It's a simple math calculation so I am baffled at why this won't work regardless of whether the account is connected to a FI. In my case I attempted to connect the account to the FI but it did not/could not connect. So there is no input other than my manual entries. In such a case it seems like the system should work.
  • edited April 2017
    Johnny C said:

    I set up a two year old mortgage and tried to link to my mortgage company but the link was not successful.  Now I have the same problem as others in that the what if tool is useless.  I do not see a way to clear any link with the mortgage company.  I have 24 months of payments with P&I split detail.  Do I have to re-enter this in a new mortgage to make the what if tool useable?  I hope there is a simpler fix.

    Sorry for creating more confusion, @ JohnnyC. I misunderstood your account setup as being online-activated, rather than manual.

    As some of the Super Users have pointed out, the manual account doesn't present the same problem for me that you report. My What If calc's are accurate/as expected, so I can't determine what you are experiencing.

    If you have not yet done so, I suggest you contact Quicken Support so they can ask more questions, do some troubleshooting, and maybe even collect some data/logs.

    quicken.com/support and scroll to the bottom of the page for contact channels and wait times.
  • KnnNikeKnnNike Member
    edited June 2017
    I'll add in my experience here. I have a manual loan, and the What If tool doesn't seem to work - it only calculates the savings from one month of extra payoff (and yes, I have clicked "See Results"). Running Q17 Premier R6, Windows 10
  • fxpzynyzqfxpzynyzq Member
    edited June 2017
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