The payment is
only part of the cost.
Compare equal principal amounts, repayment terms and separately paid fees. This tool does not calculate APR or rank lenders.
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Each scenario uses the same loan principal, a fixed annual interest rate, equal monthly payments and no missed or extra payments. Fees entered here are paid separately at the start. They are not financed and are not deducted from the amount received. If a real offer works differently, this simplified comparison will not represent its cash flows.
Total paid = all scheduled payments + the separate upfront fee. Borrowing cost = total interest + that fee. A lower payment may come with a longer term and a higher total cost; those are separate trade-offs.
What the tool does not include
It does not calculate APR, check eligibility, compare live offers, or account for variable rates, late charges, optional insurance or prepayment charges. Real lenders may round payments differently. Read the written disclosures and assess affordability separately.
For a hypothetical $1,200 loan at 0% over 12 months with a $60 separate fee, payments are $100 a month, total paid is $1,260 and borrowing cost is $60.