Computavi

Loans tools

How do these loan offers compare?

Compare two loans for the same borrowed amount, including upfront fees and the debt left at a shared comparison month.

We compare the same borrowed amount and time period. A lower payment can leave more debt unpaid. Fees are paid upfront; payment differences earn no return.

Compare loan offers inputs

Use the same currency throughout. Enter numbers without commas or currency symbols, for example 1000.50. Amounts allow two decimal places; rates allow six.

How we compare

Use the same cash amount for both offers.
Use a whole number from 1 to 600. For 5 years, enter 60.

Offer A

Use the loan interest rate, not APR, which can include fees. For 5%, enter 5.
Use a whole number from 1 to 600. For 5 years, enter 60.
Paid separately at the start; not added to the loan. Enter 0 for no fees.

Offer B

Use the loan interest rate, not APR, which can include fees. For 5%, enter 5.
Use a whole number from 1 to 600. For 5 years, enter 60.
Paid separately at the start; not added to the loan. Enter 0 for no fees.

Calculate once. After that, valid edits update your result automatically.

Understand this estimate

We compare the same borrowed amount and time period. A lower payment can leave more debt unpaid. Fees are paid upfront; payment differences earn no return.

Worked example

At 0%, borrowing 1200 over 12 months means paying 600 and still owing 600 after 6 months. Over 24 months, you pay 300 and still owe 900. With a 30 upfront fee, the second offer costs 30 more at that point.

How we calculate this

The loan rate is nominal per year, divided by 12. Interest rounds half-up to a cent each month before the payment.

We find the smallest cent payment that repays within the requested term. The last payment is capped at what is owed; very small loans can finish earlier.

This is a fixed-rate monthly model, not APR or a lender quote. Taxes, insurance, variable rates, daily interest, penalties and financed fees are excluded.

At the comparison month, cost = upfront fees + payments made + debt still owed − original amount borrowed. This equals accrued interest plus upfront fees. Payments stop at payoff; the comparison period stays the same.

We do not invest unused payment money or discount future cash flows. Costs alone do not establish which offer suits you.

Sources explain the underlying concepts; this calculator uses the conventions described above. It does not recommend a financial product.

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