Loan Repayment Comparison Calculator

Who this is for

Four loan offers on one line each. Copy the amount, term, rate, fees and monthly payment from each quote, and the sheet works out what each loan repays in total and what the credit costs you. The lowest total is picked out in the summary.

Anyone with more than one personal loan, car finance or credit quote in front of them, and people who want the total cost in plain figures before choosing on the monthly payment alone.

What this helps you track

• What each lender has actually quoted, in the same columns
• The total you would repay over the whole term of each loan
• What the borrowing costs on top of the amount you take
• Which offer costs least in total, not just per month
• Whether each offer lends the amount you need

How to use it

1. Write what the loan is for, the amount you need and the date you are comparing on.
2. Give each quote a row: lender, amount, term in months, the rate quoted and any arrangement or other fees.
3. Copy the monthly payment exactly as each lender quotes it, since that is the figure you would pay.
4. Total repaid and cost of credit are worked out in the browser and the workbook; on paper, multiply the payment by the months and add the fees.
5. Read the summary for the lowest total and the lowest cost of credit, then look again at the terms behind them.
6. Check the quotes are for the same amount and term before you treat the cheapest total as the best fit for you.

Formats

• Printable PDF (A4 and US Letter)
• Fillable PDF with form fields
• Fill in online, saved in your browser
• Excel / Google Sheets workbook

The printable is laid out inside a box that fits both A4 and US Letter, so the two files are identical and neither one is scaled. The fillable PDF has real form fields. The workbook uses plain formulas only — SUM, IF, COUNTIF and the like — so it opens in Excel, LibreOffice and Google Sheets without anything breaking, and every calculated cell is grey so you can see which figures it worked out.

How to print

Download the A4 or US Letter file to match the paper in your printer, open it in a PDF reader and print at 100% — not "fit to page", which shrinks the writing space. Both files leave a 14 mm margin, which clears the unprintable edge on home printers. To print the online version with your entries in it, use the Print this sheet button, which prints only the sheet and none of the page around it. More on printing.

Questions

Why do I enter the monthly payment rather than have it worked out?

Lenders quote the payment, and theirs is the one you would pay. Working it out from the rate would ignore how each lender charges and rounds, so copying it from the quote keeps the comparison to real figures.

What if the fee is added to the loan?

Then it is already inside the monthly payment. Leave the fee column blank for that offer, or the fee will be counted twice. Only enter fees you pay separately, up front or at the end.

Is the lowest total always the one to take?

Not necessarily. A shorter term costs less in total but asks more each month. The sheet shows both figures so you can weigh what you can afford against what the borrowing costs.

Can I compare more than four offers?

The printed sheet has room for four. The browser version and the workbook let you add rows, and the summary includes every row you fill.