# test

## How Do You Calculate a Bad Credit Loan Payment?

To quickly find how much your loan payments will be, enter the numbers in the fields below:

1. Loan amount – How much money do you want to borrow?
2. Loan term – How long will you take to repay the loan?
3. Interest rate – What will the lender charge you when you take out the loan (according to a percentage).

After entering your details, the personal loan calculator will display three numbers. You can use the to compare and evaluate different loans. Here is  how to understand the numbers:

1. Total payment – This is the principal + interest*. It is the entire amount you’ll be paying the lender, which includes the original loan amount.
2. Total interest paid – This is the total amount of interest you pay during the term of the loan.
3. Monthly payment – This is how much you will need to pay each month until the loan term ends.

*The total doesn’t include additional fees you may be charged by the lender. The amount is according to full payments made on time.

## Estimating Loans with the Capital Bad Credit Loan Calculator

By using our bad credit loan calculator, you will be able to understand the real costs of your loan and how the payments can fit into your monthly budget. The calculator takes your loan amount, the length of the repayment term and the interest rate into account.

### Amortization Schedule for Bad Credit Loans

You can view your estimated monthly payments, along with the amortization schedule. This will show you the breakdown between the principal and the interest paid every month.

### Estimates Using the Calculator

When using the loan calculator, your loan payment only provides you with an estimate that is based on the information you put in. Other loan fees, such as prepayment penalties or originations fees might either reduce the amount of loan you receive or increase your cost.

## Understanding Bad Credit Loan Calculator Terminology

It’s helpful to understand the basic terms of bad credit loans before you begin to use a personal loan payment calculator. Knowing these terms still aid you in understanding the numbers and help you to get a clear picture of how our loan might look.

### Loan Amounts

When referring to the loan amount, this is the total loan, including all fees costs. For example, some lenders might add on an administrative fee when processing your loan. The loan amount would include those fees as well.

### Length of Loan Term in Months

This is the amount of months that you will have to repay your loan. Many bad credit loans run between 24 and 48 months, but this can vary depending on the state you live in. Find out from your lender if there is a prepayment fee, so that you can pay off the entire loan before the end of the original term date, without being charged.

### Interest Rates

Interest rates can be confusing when you are checking the cost of a loan. Try to discern if the company is referring to monthly interest or yearly interest, which is also known as APR. The higher your interest rate is, the more expensive your total loan will cost.

While loans can be confusing, those are the main terms that you should understand when using our bad credit loan calculator. Keep in mind that you are always welcome to call us or to use the resources we have available for you on our website. It’s important to us that you understand the loan costs.

## Get Started On Your Cash!There's No Need to Wait!

Take the first step to cash by completing the short inquiry form and submitting it to us at Speedy Payday Loans.