Compare up to three finance scenarios side by side, fees and balloons included.
Scenario A has the lowest total cost
$6,760
- Repayment
- $833 / month
- Monthly equivalent
- $833
- Total interest
- $9,704
- Total fees
- $695
- Balloon at end
- $0
- Total payable
- $50,399
- Effective rate
- 9.58%
Scenario A
Lowest total$40,000 · 5 yrs · 8.90%
- Repayment
- $573 / month
- Monthly equivalent
- $573
- Total interest
- $15,328
- Total fees
- $1,830
- Balloon at end
- $8,000
- Total payable
- $57,158
- Effective rate
- 9.65%
- More than lowest
- +$6,760
Scenario B
$40,000 · 7 yrs · 8.50%
Scenario B has the lowest regular repayment, but it costs $6,760 more overall than Scenario A. A longer term or a balloon lowers each repayment while adding interest.
Calculator results are indicative estimates only and do not constitute a finance quote, offer, approval or financial advice. Actual repayments, rates, fees and loan terms depend on the lender, product and individual circumstances.
How the finance comparison figures are worked out
- 01
Each scenario has its own amount, rate, term, frequency, fees and balloon.
- 02
Total payable counts every repayment, fee and balloon, which is the fairest way to compare.
- 03
The lowest regular repayment is often not the cheapest loan once a longer term or balloon is counted.
Calculator results are indicative estimates only and do not constitute a finance quote, offer, approval or financial advice. Actual repayments, rates, fees and loan terms depend on the lender, product and individual circumstances.
- Business finance budgetWork from your revenue and costs to a repayment budget and the finance it could support.
- Repayment budgetStart from the repayment you are comfortable with and see the asset price it supports.
- Time to repaySet a repayment you can afford and see how long the loan would take to clear.
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