alternate loan repayment

[spank]

In another thread someone made a passing mention of alternate loan repayment schedules. So I worked out an series alternate of alternate loan repayments based on a similar interest rate, but different time scales.

Make down payment as normal, and then divide total purchase price by the amount shown to figure monthly payment for that loan length.

total/300=100 years
total/295=90years
total/290=80 years
total/285=70 years
total/275=60 years
total/260=50 years
total/240 =40 years
total/210=30 years
total/165=20 years
total/135=15 years
total/100=10 years

For example a free trader costs 37,080,000 Cr
down payment = 7,416,000 CR
payment for 40 years equals 154500 CR

alternately

payment for 20 years equals 224727.27CR
or
payment for 80 years equals 127862.06 CR

 

[Plankowner]

I could see older ships being refinanced or purchased used having to use a shorter repayment plan.

Sure a new ship has a 40 year mortgage, but the 50 year old clunker will only get you a 10-20 year mortgage. Sure it is only 25% of the original price as well.

The monthly payments would still be lower, but not as low as the players might originally expect.

 

[Icosahedron]

I made a whole series of different mortgage products during one of my more anally retentive periods, but I've forgotten where I put the file. I think it's on a floppy, somewhere...
I made an assumption of quite long-lived vessels and figured that corporations could extend mortgages beyond a single human lifetime. I also had shorter term mortgages, interest-only mortgages, etc.

 

[spank]

strings attached

I had an interesting idea, what if as part of the 100 year repayment the bank made available a source of anagathics to the PCs, they would still have to pay for them, and they would only be available for the length of the loan.