Bear Loans calculator
Move the sliders to see what a loan would cost each month and in total. Use it before and after you get an offer.
Assumes fixed monthly payments and no extra fees. Real offers may include fees or a different payment schedule.
Estimated monthly payment
$150.69
- Total interest
- $308.23
- Total repaid
- $1,808.23
- Interest per $1 borrowed
- $0.21
How to use the results
Test the payment against your tightest month. Payments that fit your average month can still fail in a month with a car registration or a school bill.
Look at interest per dollar. It shows what each dollar of borrowing really costs. At 35.99% over 12 months, every $1 borrowed costs about 21 cents in interest.
Try a shorter term. Drag the term down a few months and watch total interest fall. If the higher payment still fits, the shorter term saves money.
Compare with your real offer. Once a lender shows you terms, enter its APR and term here. If the total repaid differs from the lender's disclosure, fees are likely the reason, and the lender's figure is the one that counts.
The formula behind it
Payment = P × r ÷ (1 − (1 + r)−n), where P is the amount, r is the APR divided by 12, and n is the number of months. It's the standard amortization formula used for fixed-payment loans.
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