For car finance, personal loans or any fixed-rate borrowing. See the monthly payment and the true cost once interest is added.
APR is treated as a simple annual rate compounded monthly. Lenders quote APR in a standardised way that can include fees, so the headline figure may differ slightly.
Enter the amount, the interest rate (APR) and the term, and it shows your monthly repayment and the total interest using the standard amortising-loan formula.
APR is the yearly cost of a loan including interest and most fees. Comparing loans by APR, rather than by the monthly payment alone, shows which is genuinely cheaper.
Yes. Spreading a loan over more years lowers each payment but increases the total interest, because you owe the balance for longer.
These results are estimates for general information only and are not financial advice. Check every figure yourself and seek appropriate advice from a qualified professional before making any decision. Read the full disclaimer.