Title Loan Simple Cost CalculatorFree online financial calculator — instant results, no sign-up
Estimate a single-payment title loan's simple interest and fees without renewals.
Estimates only, based on the inputs and assumptions shown. This is not financial, investment, tax, or legal advice. Prices, rates and local rules may change; crypto scenarios do not predict returns. Confirm important decisions with a qualified professional.
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About the Title Loan Simple Cost Calculator
The Title Loan Simple Cost Calculator estimates the simple interest and fixed fee on a title loan repaid in one payment, without renewals. It applies a monthly interest rate to the original loan amount over the entered term, then shows the finance cost and total single repayment. With the default inputs, the finance cost is $450.00 and the single repayment is $2,450.00.
- Loan amount ($)
- The original principal borrowed in dollars, with a default of $2,000.
- Monthly simple interest (%)
- The percentage of the original principal charged as interest each month, with a default of 20%.
- Term (months)
- The time until the single repayment is due, measured in months, with a default of 1 month.
- Fixed fee ($)
- The one-time fee in dollars added to the finance cost, with a default of $50.
Formula and method
I = P × (r / 100) × t; C = I + F; R = P + C. With the defaults: I = 2000 × (20 / 100) × 1 = $400.00; C = $400.00 + $50.00 = $450.00; R = $2,000.00 + $450.00 = $2,450.00.
- POriginal loan principal in dollars.
- rMonthly simple interest rate entered as a percentage.
- tLoan term in months.
- FOne-time fixed fee in dollars.
- ISimple interest accrued over the term, in dollars.
- CFinance cost: interest plus the fixed fee, in dollars.
- RSingle repayment: principal plus finance cost, in dollars.
Convert the monthly percentage rate to a decimal, then multiply it by the original principal and the term in months. Add the fixed fee once to obtain the finance cost. Add that finance cost to the original principal to obtain the single repayment; neither interest nor fees are compounded.
Worked example
These are the calculator's starting values and the results it actually produces for them.
Inputs
- Loan amount2000 $
- Monthly simple interest20 %
- Term1 months
- Fixed fee50 $
Results
- Finance cost$450.00
- Single repayment$2,450.00
How to use the Title Loan Simple Cost Calculator
- 1Enter the loan principal in Loan amount ($); the default is 2000.
- 2Enter the monthly simple interest percentage, not an annual rate; the default is 20.
- 3Enter the term in months until the single payment is due; the default is 1.
- 4Enter the one-time fixed fee in dollars; the default is 50.
- 5Read the finance cost and single repayment, and compare them with the lender's written terms; the defaults produce $450.00 and $2,450.00.
Reading your result
Finance cost is the amount charged above the borrowed principal: $400.00 in simple interest plus the $50.00 fee gives $450.00 with the defaults. Single repayment is the total due in one payment at the end of the term: the $2,000.00 principal plus the $450.00 finance cost gives $2,450.00. It is not a monthly installment amount.
Limitations
This estimate assumes the entire principal remains outstanding until one repayment at the end of the term, a constant monthly simple interest rate, and a fixed fee added once without accruing interest. It excludes renewals, rollovers, compounding, partial payments, late charges, repossession costs, and any charges not entered as the fixed fee. It does not calculate APR, use exact calendar-day accrual, or account for fees withheld from loan proceeds. Actual contract terms and state laws may differ. Title loans use a vehicle title as collateral, and failure to repay can lead to loss of the vehicle; this calculator does not assess affordability or legal compliance.
Common questions
Should I enter 20% if the title loan advertises a 20% monthly rate?+
Yes, if it is a monthly simple interest rate applied to the original principal. Enter 20, not 0.20. Do not enter an advertised APR in this field: APR is an annual measure and may incorporate fees.
Why is the default finance cost $450.00 rather than $400.00?+
The $2,000 principal at 20% monthly simple interest for 1 month generates $400.00 in interest. The calculator adds the $50.00 fixed fee, bringing the finance cost to $450.00 and the single repayment to $2,450.00.
Can I estimate a title-loan renewal by increasing the term?+
Increasing the term only extends simple interest on the original principal while counting the fixed fee once. It does not model a renewal, which may introduce additional fees, interest payments, or a changed balance.
Does the single repayment include returning the amount I borrowed?+
Yes. With the defaults, the $2,450.00 single repayment includes the $2,000.00 principal and $450.00 in finance cost, all due in one payment under this model.
Does the calculator save my information?+
Calculations run in your browser. While signed in, inputs and results are automatically recorded in account history; saving a result creates a separate saved record.
Further reading
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Results are estimates for informational purposes and are not financial, medical or legal advice.