Tool · Offer comparison

Which offer really costs less?

A lower rate with a fee can cost more than a higher rate without one. Enter the cash you need and up to four offers. Every offer is sized so you receive the same amount, then compared on total cost and on what it costs to leave early.

Reviewed 5 September 2026 · Method: equal-cash comparison and estimated APR · Example offers are fictional

Result

$10,000.00 in hand. Offer A: 12%, 36 mo, 5% fee deducted from proceeds. Offer B: 14%, 36 mo, no fee.

For $10,000.00 in hand, Offer B costs the least over its full term: $2,303.95 in interest and fees. Offer A costs $282.53 more.

	Offer A12% · 36 mo · 5% fee deducted from proceeds	Offer BLowest cost14% · 36 mo · no fee
Cash you receive	$10,000.00	$10,000.00
Fee	$526.32	$0.00
Amount on the note	$10,526.32	$10,000.00
Interest rate	12%	14%
Estimated APR	15.61%	14.00%
Monthly payment	$349.62	$341.78
Term	36 months	36 months
Total of all payments	$12,586.48	$12,303.95
Total interest	$2,060.16	$2,303.95
Cost if paid off at month 6	$1,120.76	$659.99
Cost if paid off at month 12	$1,622.70	$1,219.75
Cost if paid off at month 24	$2,326.03	$2,009.15
Total cost over full term	$2,586.48	$2,303.95

Cost of borrowing if you paid off after each month

Offer AOffer B

Show the math

Every offer is sized so you receive exactly $10,000.00. That is the only fair way to compare a fee against a rate.

Offer A: 12% for 36 months, 5% fee deducted from proceeds
  Cash needed         = $10,000.00
  Note principal      = ($10,000.00 + $0.00) ÷ (1 − 5%) = $10,526.32   fee deducted from proceeds
  Fee                 = $526.32
  Monthly rate r      = 12% ÷ 12 = 1%
  Payment             = note × r × (1+r)^n ÷ ((1+r)^n − 1) = $10,526.32 × 0.01 × 1.430769 ÷ 0.430769 = $349.62
  Total of payments   = 349.6243 × 36 = $12,586.48
  Total cost          = $12,586.48 − $10,000.00 = $2,586.48
  Estimated APR       = the annual rate at which 36 payments of $349.62 are worth $10,000.00 today = 15.61%
  Cost at month 12    = 12 payments + remaining balance − cash received = $1,622.70

Offer B: 14% for 36 months, no fee
  Cash needed         = $10,000.00
  Note principal      = $10,000.00 (no fee)
  Fee                 = $0.00
  Monthly rate r      = 14% ÷ 12 = 1.166667%
  Payment             = note × r × (1+r)^n ÷ ((1+r)^n − 1) = $10,000.00 × 0.01166667 × 1.518266 ÷ 0.518266 = $341.78
  Total of payments   = 341.7763 × 36 = $12,303.95
  Total cost          = $12,303.95 − $10,000.00 = $2,303.95
  Estimated APR       = the annual rate at which 36 payments of $341.78 are worth $10,000.00 today = 14.00%
  Cost at month 12    = 12 payments + remaining balance − cash received = $1,219.75

Cost curve: after m payments, cost = payments made + balance still owed − cash received.
The payment is kept unrounded inside the calculation and shown to the cent.

Questions to ask your lender

Offer A: is the 5% fee taken out of the money I receive, or added to my balance? My comparison assumes it is deducted.
What APR is printed on each offer's Truth in Lending disclosure, and does it include every fee? I estimate about 15.61% for Offer A and about 14.00% for Offer B.
Is there any prepayment penalty? If I paid this off at month 12, what would the payoff amount be?
Is the rate conditional on autopay or on opening an account, and what happens to the rate if I cancel?

Assumptions and limits

Each offer is compared on the same cash in hand. An offer with a deducted fee is grossed up so you still receive the amount you need.
Fixed rates, one payment a month, every payment on time and in full, no late fees or extra payments.
Estimated APR comes from a regular-period cash-flow calculation on the terms you entered. The lender's disclosure is the authoritative figure.
These are offers you typed in. We have no idea whether any lender would approve you for them, and we do not recommend one.

Already have the loan? See where your payments went, or check whether refinancing it helps.

Which offer really costs less?

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