Loan Comparison Calculator
Compares two loans on what they cost overall.
Result
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Share sends a link that reopens these numbers. Copy details pastes the full breakdown as a list.
Side by side
Total cost difference —
The formula
total cost = payment × months − amount + fees
Comparing the cost of borrowing, rather than the rate alone, brings fees into the picture.
What to watch out for
If the terms differ, the shorter loan usually costs less overall but has a higher payment, so check you can afford it.
Frequently Asked Questions
Is the lowest rate always the cheapest loan?
No. 20,000 over 5 years at 8% with no fee costs 4,331.67; at 7% with a 600 fee it costs 4,361.44. The fee more than cancels the lower rate.