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Guess · Mon, Oct 5

9.9% with a 6% fee, or 12.5% with no fee?

Both put $8,000 in your hand, repaid over 48 months. The fee comes out of the loan before you get the money.

How many dollars is the 6% fee?

$480
$0$1,000
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The real number

$511

It comes to $511.

Your guess—
The real figure$511

Not $480. The fee is charged on what you borrow, and you have to borrow $8,510.64 to walk away with $8,000.

Why so much?

Why

A fee taken out of the loan means you borrow more than you receive, and pay interest on the fee too.

What you borrow at 9.9%: $8,511
  • $511 fee
  • $8,000 cash in hand

Every one of the 48 payments carries interest on the $511 as well.

Over 48 months

9.9% with the fee: $215 a month, cost $2,341. 12.5% with no fee: $213 a month, cost $2,207.

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One move

Compare the cost of borrowing, not the rate.

9.9% + 6% fee

$215a month
$2,341cost of borrowing

12.5%, no fee

$213a month
$2,207cost of borrowing

The 12.5% loan costs $135 less over the term.

Estimated APR 13.21% with the fee, 12.5% without. The lender's disclosure is the authoritative figure.

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Now yours

Your offer with a fee.

You borrow $8,510.64 to receive $8,000. $215.44 a month. Cost of borrowing $2,341: $511 fee and $1,831 interest.

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The whole story, as text

9.9% with a 6% fee, or 12.5% with no fee?

9.9% with a 6% fee, or 12.5% with no fee? Both put $8,000 in your hand, repaid over 48 months. The fee comes out of the loan before you get the money. How many dollars is the 6% fee?

The answer

$511. Not $480. The fee is charged on what you borrow, and you have to borrow $8,510.64 to walk away with $8,000.

Why

A fee taken out of the loan means you borrow more than you receive, and pay interest on the fee too. $511 fee, $8,000 cash in hand. Every one of the 48 payments carries interest on the $511 as well. Over 48 months: 9.9% with the fee: $215 a month, cost $2,341. 12.5% with no fee: $213 a month, cost $2,207.

One move

Compare the cost of borrowing, not the rate. 9.9% + 6% fee: $215 a month, $2,341 cost of borrowing. 12.5%, no fee: $213 a month, $2,207 cost of borrowing. The 12.5% loan costs $135 less over the term. Estimated APR 13.21% with the fee, 12.5% without. The lender's disclosure is the authoritative figure.

The comparison is on equal cash in hand: each offer is sized so you receive exactly $8,000. That is the only fair way to compare a loan with a deducted fee against one without.

Yours

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Written and reviewed by Riverbend Crossroads Digital LLC, Friday, October 2, 2026. Figures from the Show Real Cost engine, computed exactly and shown to the cent. Educational, not advice; your lender's disclosures are the authoritative figures. How we calculate · Corrections.