Processing car purchase with down payment and loan?

How to process a vehicle purchase with a down-payment and a loan?

Best Answer


  • Hello Jamie64x. Appreciate your question.

    Which version of Quicken Canada are you using? Is it on a PC or Mac?

    Please let us know so that we can best help you further.

    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • Hi Harold: Home & Business, installed Feb2019, PC W10.
  • Hi Jamie64x. Appreciate your question and reply...

    I would start by clicking on the Blue Plus on the top left hand side of the screen to choose a new account.
    Next, choose Vehicle, and then click Next.
    Next, make an Account Name for the Vehicle. Click Next.
    Next, enter the particulars of the vehicle. Make, Mdoel, Year, Date in which loan was acquired, Purchase Price and Current Value of the loan. (If it's brand new, you will do the same for both.) Click Next to proceed.
    Next, do you want to track the loan and payments in Quicken? If you choose yes, you can choose to track the loan. Once, you choose your option, click next. If you choose "No", then the loan is setup in Quicken and you can start posting payments or transferring information from your main bank account over to the loan..
    If you say "Yes", you can choose to setup to receive updated information from your bank or lending institution or choose to add the account manually.

    I hope this helps in setting up your loan in Quicken.

    Please let us know if you have any other questions/concerns.

    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • Thanks QH: much appreciated. However does not deal with steps for down payment(s) E.g. Price of vehicle all in $100, less d/p $10 (to hold vehicle), less 2nd payment $10 leaving loan balance of $80 (the correct loan balance per agreement). I tried inputting loan of $100 and then notional loan payments of $10 and $10 (@ acquisition date, as above, so no interest calculation. Seemed to work but now Accounts listing on left shows loan of 0 (zero). will keep experimenting.
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