This mod makes the credit system a bit more realistic. However, the standard game credits will be deactivated. If a farm still has a loan, it will be transferred to the new system.
With this system it is possible to take annuity loans. For this, a loan with a fixed amount, a term and a loan interest rate is concluded. This calculates the monthly installment, which is debited at the end of each month.
The bank requires collateral here, so the maximum loan amount is calculated from the current sales value of your vehicles, fields (60%), cash and your already current loans.
To make this a bit more realistic the loan rate can go up, down or stay the same each month. This makes it all the more crucial when the loan is taken out. However, you can also change this variable loan interest rate to a fixed loan interest rate in the settings. There are also various setting options that allow the credit system to be adapted to personal preferences.
How does an annuity loan work? Here is a brief explanation:
An annuity loan has an annuity, the monthly installment, and a loan interest rate. This annuity is made up of the repayment amount and the interest amount. The interest amount is calculated by multiplying the loan interest rate by the remaining amount of the loan. As a result, the interest amount keeps decreasing and the repayment amount keeps increasing.
