Loan Calculator
Enter the loan amount, interest rate and term to see your monthly payment, the interest you pay and the APR. Below, the same loan over different terms and, if you like, another offer or paying cash.
Origination fee, balloon payment and other costs
Enter the loan amount, interest rate and term.
The APR includes the fees and costs you enter. Fixed monthly payments.
Compare with another offer
Enter the other offer's interest rate to compare them. The same loan amount is used.
Compare with paying cash
Enter the cash price to see what financing costs you.
Year-by-year amortization
Enter the loan amount, interest rate and term.
Results are estimates. Solvemis accepts no responsibility for the results obtained or for how they are used. Always double-check the result and talk to a qualified professional before making decisions.
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How it works
How to use it
- Enter the amount you will borrow, the interest rate and the term in years or months.
- If there is an arrangement fee, other upfront costs, a monthly charge such as insurance, or a balloon payment, open the options and add them: the APR includes them.
- You will see the monthly payment, interest, fees, total cost and APR.
- Below, the same loan from 2 to 8 years: the payment for each term and what it costs you.
- To decide, open “Compare with another offer” or “Compare with paying cash”.
How it is calculated
The payment is the standard fixed payment: P · r / (1 − (1 + r)^−n), where r is the monthly rate (annual rate ÷ 12) and n the number of months; with a balloon payment, its present value is taken out first. The APR is the effective annual rate at which what you receive (the loan minus upfront fees) equals everything you pay, fees included.
Payment = P · r / (1 − (1 + r)^−n)
Sources
- Ley 16/2011, de 24 de junio, de contratos de crédito al consumo — Boletín Oficial del Estado
- Directive 2008/48/EC on credit agreements for consumers — European Union (EUR-Lex)
About this calculator
What it’s for
Before taking out a personal or car loan there are three questions: what will I pay each month, how long should the loan be, and which offer is better. The calculator answers all three, plus one that is easy to forget: is financing worth it, or should I pay cash?
€15,000 at 7% over 5 years costs €297.02 a month. You pay €2,821 in interest and €17,821 in total.
How long: payment versus cost
A longer term lowers the payment, but you pay for it in interest. That is what the bars below the result show, for the same loan:
| Term | Payment | What it costs |
|---|---|---|
| 3 years | €463 | €1,674 |
| 5 years | €297 | €2,821 |
| 8 years | €205 | €4,633 |
Going from 5 to 8 years lowers the payment by €92 a month but costs €1,812 more. Pick the highest payment you can comfortably afford.
The APR is what you compare
The interest rate is only part of the cost. The APR adds fees and compulsory costs and expresses everything as a yearly rate. With €15,000 over 5 years:
- 7% with a 2% fee: 8.14% and €18,121 in total.
- 8% with no fee: 8.30% and €18,249 in total.
Here the lower rate is still cheaper, by €128; with other amounts or fees it can be the other way round. Open “Compare with another offer” to run your own.
Balloon payments
Some dealers offer low payments by leaving a large balloon payment at the end. With €20,000 at 7% over 4 years:
- No balloon: €478.92 a month and €2,988 in interest.
- €8,000 balloon: €334.02 a month, but €4,033 in interest and €8,000 to pay at the end.
The payment drops because you repay less each month, which is why you pay more interest.
Finance or pay cash?
Open “Compare with paying cash” and enter the cash price and your deposit. Dealers sometimes cut the price if you finance with them, or the other way round: always compare the total, not just the monthly payment.
What the result does not include
- Insurance and extras you do not enter as costs.
- Variable rates: the calculator assumes a fixed rate.
- Late payments: they carry their own fees and interest.
All figures are estimates. The loan offer the lender gives you is what counts: always check against it and, if in doubt, talk to a qualified professional.
Frequently asked questions
What is the difference between the interest rate and the APR?
The interest rate is what you are charged on what you owe. The APR adds fees such as an arrangement fee and expresses the total as a yearly rate, so it is the number to compare. €15,000 at 7% over 5 years has a APR of 7.23%; with a 2% fee, 8.14%.
Is 0% financing really free?
Not always. It often comes with fees, compulsory insurance or a higher price than paying cash. Enter those costs in the options and compare the total with the cash price.
Can I repay the loan early?
Usually yes, but some lenders charge a fee for it. Your loan agreement must say whether yours does and how it is calculated.
Updated 2 October 2026
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