Calculator
Loan Comparison Calculator
This loan comparison calculator runs the same amount through two offers with different rates, terms, and fees. It reports each offer's monthly payment, total cost, and APR, then states which one is cheaper overall.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
Two offers for the same amount can cost very different totals once rate, term, and fees are combined. The calculator runs the amortization formula on each offer, adds the fee to the total cost, and solves for each offer's APR so the comparison accounts for the fee as well as the rate.
Total cost is every payment plus the fee, and the cheaper offer is the one with the lower total, which is not always the one with the lower payment. A longer term can lower the monthly payment while raising the total cost, so compare total cost and APR rather than the payment alone.
Enter the figures from offers you have actually received. Rates and fees vary by lender and credit profile, so your own numbers give the only comparison that matters.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.