See whether monthly payments cost more than paying cash.
Understand the real cost of installments
When a store says, “Pay only this much per month for this many installments,” the monthly amount may not look expensive. What you really need to know is the product price, the cash price, the total installment cost, and how much more you will pay. A product may cost 50,000, but the total amount paid can reach 80,000 even though each monthly payment looks small.
Note: The result does not include late-payment penalties, collection fees, or special conditions from individual providers.
1Enter the purchase details
cash
discount
down
monthly
fees
term
Enter the purchase details.
The Financial Lessons Schools Never Taught You
Many people succeed in school and in their careers, yet fail because of poor financial decisions.
TeeNee.com has created six simple tools to help you understand personal finance. Without financial knowledge, even a large amount of money can disappear faster than you think.
See the true total interest you'll pay over the life of your home loan, and discover how paying just a little extra each month can save you a significant amount of interest.