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Loan Comparison
Make the best borrowing decision. Compare two loan offers side-by-side to find the cheaper option.
Last Updated: March 1, 2025
# What is Loan Comparison?
A Loan Comparison Calculator analyzes two different loan scenarios to highlight differences in monthly payments and total interest costs.
# How Does Loan Comparison Work?
- 1Enter details for Loan A (Amount, Rate, Term).
- 2Enter details for Loan B.
- 3The tool highlights the lower monthly payment and lower total cost.
- 4See the exact savings difference.
# Formula Used
`Delta = Cost(Loan A) - Cost(Loan B)`# Common Use Cases
Choosing between a lower rate vs shorter term.
Comparing dealer financing vs bank loan.
Refinancing analysis.
# Why Use This Tool?
Clear Winner: Instantly identifies the better deal.
Total Cost Focus: Looks beyond just monthly payment.
Fees Included: Can account for origination fees.
Trusted & Secure
• Calculations are performed entirely in your browser.
• No signup, no data storage, no tracking.
• Formulas based on standard financial principles.
# Frequently Asked Questions
Is a lower rate always better?▼
Not always. High upfront fees on a low-rate loan could cost you more than a slightly higher rate with no fees.
Does this affect my credit score?▼
No, using this calculator is a 'soft inquiry' or simply a math tool; it does not pull your credit report.
Can I compare different loan types?▼
Yes, you can compare a 30-year fixed against a 15-year fixed, or an auto loan against a personal loan.
Last updated: March 2025 • v2.1.0 • Secure Client-Side Processing