How to compare the same borrowing need
Enter each offer from its own quotation. The base amount is the loan amount before fees that are explicitly added to principal. A fee withheld from that amount reduces the cash disbursed. A separately paid upfront fee reduces the initial cash benefit in the cash-flow calculation. A financed fee increases debt without giving you extra usable cash.
The form allows offers to differ, but the result warns when initial net cash differs. The comparison table then leaves both horizon and full-term cost differences unavailable. Review each standalone schedule and adjust quoted amounts only when that matches an actual alternative offer; do not interpret unequal funding as a like-for-like price saving.
Read the two cost views
Full-term financing cost equals all modelled payments less initial net cash. With this model’s non-negative fees and rates, it also equals interest plus every entered fee. The same-horizon view uses payments through the selected month plus remaining principal less initial net cash. It assumes immediate settlement at that point without an added prepayment fee or accrued daily interest.
The default example delivers $9,800 net cash in both offers. A’s $313.36 payment is higher than B’s $244.21, while A’s full financing cost is lower. After month 24, A still owes principal, so comparing only the payments already made would omit part of the obligation.
Retain the evidence
Download the account ledgers to inspect every month’s opening balance, interest, regular amount, extra amount and closing principal. Scenario JSON contains both entered assumptions and a dated model result; importing it recalculates rather than displaying the old snapshot. A printed report includes the model summary and full ledgers, with the editing controls omitted.
Limits shared by these schedules
Interest uses annual rate divided by twelve and monthly cent rounding. There is no daily accrual, variable rate, payment deferral, insurance, tax, delinquency cost or prepayment fee. The first due date labels equal monthly periods; it does not introduce an odd first-period interest calculation. Use the original quotation and payoff statement for contractual amounts.
Sources and definitions
The CFPB explains fees on personal instalment loans, why a monthly payment alone is insufficient for comparison and the distinction between interest and APR. These support the borrowing concepts. The specific monthly rounding, cash-flow rate calculation and invented examples are the original AllMarkets model, not a lender quote or a certified regulatory disclosure.
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