// by seankriegler.com
Loan Comparison Calculator
Compare two loans side by side to find the best deal
Loan A
Loan B
Loan A
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Monthly
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Total Cost
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Interest
Loan B
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Monthly
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Total Cost
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Interest
// Total Cost Matters
Don't compare monthly payments alone. A longer term has lower payments but much higher total cost. Always compare the total cost of credit.
// Hidden Fees
Include initiation fees, monthly service fees, and credit insurance. These can add thousands to the total cost and aren't reflected in the interest rate.
// Rate Shopping
Get quotes from at least 3 lenders. A 2% rate difference on R200,000 over 5 years can save over R12,000 in interest.
// Negotiate
Interest rates aren't fixed. Use competing offers as leverage. A strong credit score (670+) gives you negotiating power for better rates.