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What the loan
really costs.

Any fixed-rate loan: personal, car or student. The monthly payment, the interest over the whole loan, the true APR once fees are counted, every payment in a schedule, and what a shorter term or a little extra saves.

Payment and total interest · APR with fees · Amortization schedule · Shorter terms side by side

Start Amortization schedule

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Your payment, a month

$497

Total interest

$2,914

APR

11.90%

Paid off

Nov 2029

What you owe, payment by payment Balance Without extra Principal Interest

The loan

Kind of loan
$
%

Personal starts at 11.90% and car at 7.54%: the averages at US commercial banks for 24-month personal and 60-month new-car loans (Federal Reserve, third quarter of 2026). Use the rate on your offer.

Fine-tune 3 more inputs
% of the loan
$
The fee is taken out of what you receive, as most lenders do. Income only adds the payment’s share of it; it stays on this device.

Pay a little more

$0

Shorter or longer

The same loan over each term. A shorter term costs more each month and less in all.

TermA monthTotal interest

What it costs

Monthly payment

$497.98

Total interest
Fees
Total repaid, with fees
Paid off
APR

Illustration only, not a loan offer. A fixed-rate loan with interest charged monthly at the rate ÷ 12 and no late fees. The APR here counts the fee you enter; a lender’s disclosed APR may count other charges too, and some student and car loans charge interest daily.

Figures checked November 2026. Sources: Federal Reserve G.19, terms of credit (Q3 2026) · CFPB, interest rate vs APR.

Amortization schedule

Three numbers to compare.

The APR, not the rate

  • Fees are interest by another name. A 5% origination fee on a three-year loan adds about three points to the yearly cost.
  • Compare offers by APR. Lenders must show it before you sign.

Total interest, not the payment

  • A low payment can be the expensive one. Stretching a car loan from 60 to 84 months lowers the payment and raises the total.
  • Pick the shortest term you can carry. The table shows each one.

Paying early

  • Extra goes to principal. Ask the lender to apply it there, not to next month’s payment.
  • Check for a prepayment penalty. Most personal and car loans have none; the agreement says.