Sometimes the “headline rate” you’re quoted isn’t the full picture. Fees, balloon payments, and loan structure can all change the real cost of borrowing.

This calculator works backwards — you enter the loan amount, term, and actual repayment amount, and it shows your real annual interest rate (Comparison Rate) so you can compare apples to apples.

It’s ideal for:

• Checking if a “too good to be true” offer really stacks up

• Comparing different lender quotes

• Understanding the true cost of your finance