Loan Comparison Calculator — Find the Lower-Cost Offer
Compare any two loan offers side by side — same amount, different rates and terms — to see which truly costs less.
Quick answer: The cheaper loan is not always the one with the lowest payment. Compare APR, term, fees, total interest, and payoff flexibility to find the lower all-in cost.
Loan A savings versus Loan B are $2,226. A positive result favors Loan A; a negative result favors Loan B.
This comparison includes scheduled principal-and-interest payments plus the upfront lender fees entered above. It excludes late fees, optional products, and prepayment effects.
Compare top providersCompare loan offers
- 1
Compare the leading option against your current setup
Compare two fixed-rate loan offers using entered contractual rates, terms, and lender fees with a signed all-in cost difference.
- 2
Pressure-test one alternate scenario before deciding
Assumptions change the answer, especially when rates, taxes, or timing matter.
- 3
Use the linked guide or product page for the next step
Turn the result into a prioritized action instead of treating it as a one-off number.
This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.
Turn this result into a decision
Every SwitchWize calculator connects to a product comparison, rate context, guidance, alerts, and Money Map.
Reviewed Aug 23, 2026 · Methodology
Advertising disclosure: SwitchWize may earn a referral fee if you open an account through a link above. This does not affect our rankings. Ranked using the SwitchWize methodology. Learn more
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<script>(function(){window.addEventListener("message",function(e){if(e.origin!=="https://www.switchwize.com")return;var d=e.data;if(!d||d.type!=="sw-embed-resize")return;var f=document.getElementsByTagName("iframe");for(var i=0;i<f.length;i++){if(f[i].contentWindow===e.source){f[i].style.height=d.height+"px";break;}}});})();</script>Frequently Asked Questions
Everything you need to know.
Should I choose a lower payment or lower total cost?
What is the difference between APR and interest rate?
Is the Loan Comparison Calculator — Find the Lower-Cost Offer free to use?
Does using the Loan Comparison Calculator — Find the Lower-Cost Offer affect my credit score?
Are the results personalized financial advice?
What should I do after seeing the result?
How does SwitchWize choose related offers?
How fresh are the rates and offers shown?
Where can I see the ranking methodology?
Can Money Map use this result?
Why This Matters
A lower payment does not mean a lower-cost loan. A longer term with a slightly lower rate can cost $3,000 more in total interest. This calculator shows total cost, not just monthly payment.
How to Use It
- 1Enter the amount financed
- 2Enter each contractual interest rate and term
- 3Add each offer’s upfront lender fees
- 4Compare like-for-like total repayment plus entered fees
Find the best account for this goal
Money Map matches your numbers to the strongest available accounts in 90 seconds.