Loan comparison
Compare two loans side by side. See the real monthly payment, total interest, and lifetime cost of each — not just the sticker rate.
Loan A
Loan B
How this is calculated
Each loan uses the same standard amortization formula as the mortgage calculator: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where r = APR ÷ 12 and n = term × 12. At 0% APR we fall back to M = P ÷ n. Comparisons use the unrounded monthly payment internally, then round for display — so totals may differ by a few dollars from a lender quote that rounds the payment first.
Why the sticker payment lies
A lower monthly payment often means a longer term — and a longer term almost always means more total interest, even when the APR is similar. Half a percentage point of APR looks small on paper but compounds into tens of thousands over 30 years. Always compare the total cost row, not just the payment. The cheapest loan is the one that costs you the least over its full life, not the one with the smallest monthly line item.