Will consolidating my debt into a new loan be beneficial?

See whether rolling your credit cards, auto loans, and other debts into one consolidation loan saves you money and shortens your payoff time.

Consolidated Loan Information

Annual percentage rate ?

The interest rate offered on the new consolidation loan.

Number of years ?

How long you would take to repay the consolidation loan.

Ccs

Item	Balance	Payment	Rate
Credit card 1
Credit card 2
Credit card 3
Credit card 4

Up to 4 entries.

Autos

Item	Balance	Payment	Rate
Auto loan 1
Auto loan 2

Up to 2 entries.

Others

Item	Balance	Payment	Rate
Other loan 1
Other loan 2
Other loan 3

Up to 3 entries.

Boat rv loans

Item	Balance	Payment	Rate
Balance

Up to 1 entries.

Enter your values and select Calculate.

The three cards above let you compare where you stand today against two alternatives: rolling everything into the new consolidation loan, or following the recommended payment plan. Look first at the monthly payment and total interest in each card rather than any single number in isolation — a lower monthly payment on the consolidated loan can still mean more interest paid overall if the term stretches out longer than your current payoff timeline.

The interest rate and term you enter for the consolidated loan move its results the most. A lower rate or shorter term reduces consolidated interest and the new monthly payment moves in the opposite direction, so it's worth trying a few combinations to see the trade-off. On the current-debt side, the balances, payments, and rates you enter for each card or loan drive how much interest you're already on track to pay.

None of these figures account for fees to open the new loan, changes in your rate if it's variable, taxes, or what happens if a payment is missed or a balance changes after you run this. The recommended plan assumes you keep paying consistently; it does not guarantee approval for a consolidation loan at the rate you entered.

If the numbers look favorable, bring them to a lender or advisor to confirm the actual rate and terms you'd qualify for before you commit. It's worth rerunning this whenever a card balance changes meaningfully, a rate adjusts, or you're offered a new loan quote — small differences in rate or term compound over years. Having worked through the numbers at all puts you ahead of where most people start.

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.