Adding a 63 month auto loan

I tried 5.25 years but it wouldn't take the decimal? Also not sure how to record the down payment properly. Note* This is a link loan in my Chase account. Thank you

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Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @Tony Dalia,

    In the setup routine in Quicken, when you go to the "Loan Details" page, you should have been able to select "Months" for the "Original Length" field - see attached


    Frankx

                      Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Version
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  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited August 2020
    Oh, and the down payment just gets posted to the "asset" account - Automobile.

    Assume a total cost of the vehicle is $20,000 a down payment of $8,000. and a loan of $12,000.   - the entry would be:

    Automobile                     20,000.00
    Loan Payable                                              12,000.00
    Checking Account (down payment)           8,000.00

    Frankx

                      Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Version
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

  • Tony Dalia
    Tony Dalia Member ✭✭✭
    Thank you but now when I try to access the loan it closes Quicken. I will try again tomorrow
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited August 2020
    @Tony Dalia,

    That should not happen.  Have you noticed this behavior before? If so, how long has this been going on?

    Which versions and builds of both Quicken and Windows are you running?

    Frankx

                      Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Version
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

  • Tony Dalia
    Tony Dalia Member ✭✭✭
    Started after I updated loan details this morning. Quicken 27.1.28.10 Windows 10 v2004 build 19041.388
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Okay, I would suggest that you reopen Quicken and retry to access the loan.  If you get the same result - i.e. if Quicken closes, I would suggest that you either:

    a) try to troubleshoot the file using the instructions located at this LINK, or
    b) contact Quicken Support via this LINK

    Let me know how this goes.

    Frankx

                      Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Version
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

  • Tony Dalia
    Tony Dalia Member ✭✭✭
    OK validate just closed the program, but supervalidate found a date discrepancy in the file and now it works fine! Thank you!
  • Tony Dalia
    Tony Dalia Member ✭✭✭
    Just a follow up, now my default file is called QDATACpy. Is this a problem? Should I somehow change it to QDATA?
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Just a follow up, now my default file is called QDATACpy. Is this a problem? Should I somehow change it to QDATA?

    That's not a problem, but you can change it back easily.
    With Quicken closed please do this:
    Using Windows File Explorer rename QDATA.QDF to, e.g., QDATAold.QDF
    and rename QDATACpy.QDF to QDATA.QDF
    Now double-click QDATA.QDF to start Quicken and make it use this file from now on.
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