Pay in full or in installments?
Find out whether it's better to pay in full with a discount or in installments, comparing the built-in interest with what your money can earn.
How to usePay in full or in installments?
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Pay in full or in installments?: what it is for
The calculator finds the interest rate hidden in the installment plan by comparing the cash price with the installments. Then it brings the installments to today's values using the return on your investment and tells you which option is cheaper.
It works with or without a down payment (first installment paid up front).
How to use
- Enter the cash price, the number of installments and the installment amount.
- Type how much your money earns per month.
- See the built-in interest and the best option.
When to use it
- Decide on a credit card purchase.
- Negotiate a cash discount.
- Compare offers from stores.
Frequently asked questions
What is built-in interest?
When the installment price is higher than the cash price, the difference works like interest. The calculator shows how much that is per month.
How does the calculator decide?
It compares the cash discount with how much you would earn by keeping the money invested while you pay the installments, using the return you enter.
Is it really free?
Yes, 100% free. No sign-up, no subscription and no usage limits. All Tools123 are free.