Alvin,
For flat rate, 2% x loan amount 100K = 2K.
So over 7 years, total interest payable = 2 x 7 = 14K
Interest + principal will then be = 14K + 100K = 114K (or $1,357 / month)
Did I miss something here?
Piggysnail,
One more thing to consider, for goods valued (in case of car, excluding...