Estimate your monthly payments and total loan cost before you apply. Our free calculator helps you plan your budget and understand exactly what your vehicle repair financing will cost.
APR (Annual Percentage Rate) represents the total yearly cost of borrowing money, including interest and any fees. It provides a standardized way to compare loan offers from different lenders.
Your APR depends on several factors including your credit score, income stability, debt-to-income ratio, and loan amount. Higher credit scores typically qualify for lower APR rates, which means lower overall borrowing costs.
At Tresl, APR ranges from 7.99% for borrowers with excellent credit to 35.99% for those rebuilding credit. Most borrowers receive rates between 12% and 24%.
Choosing the right loan term is a balancing act between monthly affordability and total cost. Shorter terms mean higher monthly payments but less interest paid overall.
For example, a $2,500 loan at 12.5% APR costs $223.76/month over 12 months (total interest: $185.12) versus $115.98/month over 24 months (total interest: $383.52). The longer term reduces monthly payments by nearly half but doubles your interest costs.
Consider your monthly budget carefully. Choose the shortest term you can comfortably afford to minimize total interest paid while ensuring payments fit your financial situation.
Credit Score: The most significant factor. Scores above 700 typically qualify for the best rates. Scores between 580-700 receive mid-range rates, while lower scores may face higher APR.
Income & Employment: Stable employment and sufficient income to cover payments improve your rate. Lenders want confidence you can repay the loan.
Debt-to-Income Ratio: Lower existing debt relative to income suggests you can handle additional payments, potentially qualifying you for better terms.
Tresl believes in transparent lending. The APR you see includes all costs associated with your loan. There are no origination fees, application fees, or prepayment penalties.
If you receive extra money and want to pay off your loan early, you can do so without any additional charges. Early payoff actually saves you money by reducing the interest you pay.
Our calculator shows you the exact monthly payment and total cost. What you see is what you get—no surprises at closing or hidden charges later.
See how different loan amounts, terms, and rates affect your monthly payments and total costs. These examples help you understand what to expect based on various borrowing scenarios.
| Loan Amount | Term | APR | Monthly Payment | Total Interest |
|---|---|---|---|---|
| $1,000 | 12 months | 12.5% | $89.51 | $74.08 |
| $2,500 | 12 months | 12.5% | $223.76 | $185.12 |
| $2,500 | 24 months | 12.5% | $117.89 | $329.36 |
| $3,500 | 18 months | 15.0% | $219.87 | $457.66 |
| $5,000 | 24 months | 18.0% | $246.30 | $911.20 |
| $5,000 | 36 months | 15.0% | $173.31 | $1,239.16 |
| $2,000 | 36 months | 10.0% | $64.54 | $323.44 |
These are estimates only. Actual rates and terms depend on creditworthiness and other factors. Apply now to see your personalized rates with no impact to your credit score.
While it might be tempting to borrow extra "just in case," only borrow what's necessary for your repair. Lower loan amounts mean lower payments and less interest paid overall. Get quotes from your mechanic first to determine the exact amount needed.
Shorter loan terms have higher monthly payments but save significantly on interest. If you can afford the payment on a 12-month term versus 24 months, you'll pay roughly half the interest. Use this calculator to find your sweet spot.
Before applying, check your credit score for free through services like Credit Karma. Knowing your score helps you estimate what rate you'll receive. If your score needs improvement, consider waiting and taking steps to boost it first.
While Tresl specializes in auto repair financing, compare our rates with credit cards, personal loans, and shop financing. Often, a dedicated auto repair loan offers better terms than high-interest credit cards for larger repairs.
Before borrowing, ensure the monthly payment fits comfortably in your budget. Consider upcoming expenses and income changes. A payment that's too tight can lead to stress and potential missed payments that hurt your credit.
With no prepayment penalties, any extra payments go directly toward your principal. Even an extra $20-50 per month can significantly reduce your total interest and help you become debt-free faster.
Get your personalized rate in minutes. Our quick application has no impact on your credit score, and you'll receive an instant decision on your auto repair financing.