A familiar situation
A consolidation offer may lower the APR but add an origination fee or extend repayment. Compare both plans over the same payoff period so the apparent monthly savings do not obscure total cost.
How to use this calculator
- Enter debt balance, current apr, new apr and the remaining inputs.
- Select Calculate to see the answer and its breakdown.
- Keep a scenario, change an input and compare the results.
Use consistent units and check the assumptions below before applying the result.
How debt consolidation is calculated
Both offers are compared across the same entered payoff period, and the new offer’s stated fee is included in its balance. A different term or fee treatment can change which option costs less. Formula: Offer cost = amortized payments on (balance + fee); compare with current-rate payments over equal months. Use the displayed details to inspect the intermediate amounts and replace example assumptions with terms from your own quote or records.
Offer cost = amortized payments on (balance + fee); compare with current-rate payments over equal months.A lower APR can reduce interest, but a fee or longer payoff can change the total cost.
Assumptions & useful context
A negative difference favors the new offer over this comparison term.
Financial projections use your assumptions. Actual returns, lender terms, fees and tax rules can differ; these results do not guarantee a future outcome.
Frequently asked questions
Debt Consolidation Calculator: what does the result include?
The current and new offers use the same payoff period. The new balance includes the entered fee where the screen says it is financed; the rebate tool treats its amount as a credit.
Debt Consolidation Calculator: which assumptions matter most?
No. Compare total payments, fees and the time until the debt is cleared. A longer term can reduce the payment while increasing total cost.