Loan term comparison
One amount, one APR, seven terms. Read across a row to see what a longer term saves each month and what it adds in total.
| Term | Monthly payment | Total interest | Total repaid |
|---|---|---|---|
| 12 months | $1,353.87 | $1,246 | $16,246 |
| 24 months | $727.30 | $2,455 | $17,455 |
| 36 months | $519.98 | $3,719 | $18,719 |
| 48 months | $417.46 | $5,038 | $20,038 |
| 60 months | $356.85 | $6,411 | $21,411 |
| 72 months | $317.18 | $7,837 | $22,837 |
| 84 months | $289.45 | $9,314 | $24,314 |
The same APR is used for every term so the effect of length shows on its own. Lenders often charge more for longer terms, which widens the gaps.
Send lenders this amount
Tell us how much, for how long and what for. Lendarbor passes your request to lenders and loan brokers who may make you an offer; you decide whether any offer fits.
- 1 The amount, the term and the purpose.
- 2 Your name, phone and email, and your consent to be contacted.
- 3 A lender or loan broker may contact you with an offer, sometimes for a different amount or term. Nothing is decided until you sign.
You pay Lendarbor nothing. The lenders and loan brokers who contact you set their own rates, fees and loan sizes. How we make money.
Reading the table
With $15,000 at 15% APR, moving from 36 to 60 months lowers the payment by $163.13 a month and adds $2,692 of interest. Going from 60 to 84 months saves another $67.40 a month for $2,903 more. Each extra year buys a smaller cut in the payment than the last.
Choose the shortest term whose payment fits your budget with room to spare. Choosing a term for your amount goes through the trade-offs.