Guide
Offers use different words for the same arithmetic. Put them on one line and the right one is usually obvious.
✓ Checking what you qualify for does not affect your credit score.
Offers use different words for the same arithmetic. Put them on one line and the right one is usually obvious.
For each offer, write: amount received, total to repay, repayment period, payment amount and cycle, fees and any early-payoff discount. Fill every cell, even if you have to ask.
Subtract the amount received from the total to repay. That is the cost. Then divide by the months to see what the money costs per month of use. A higher cost over a much shorter period may be the better deal.
Take the payment and subtract it from your slowest month's deposits after costs. If it still leaves a positive balance with a buffer, the offer is safe. If not, either ask for a different structure or a smaller amount.
Is there a minimum payment? What happens if I miss one? Can the payment be reconciled? What does the agreement say about other financing? Answers to these often decide the choice more than the price.
Convert each to total repaid, repayment period and payment in your worst month. That puts them on one scale.
Yes. Small adjustments in factor, term or fees can be worth hundreds or thousands of dollars.
Two or three is enough. More adds time and inquiries without much more insight.
Educational information only. It is not legal, tax or accounting advice.
Same-day decision. Applying takes a few minutes and will not affect your credit score.
