$2,000 Flex Loan vs BetterFi
Flex Loan
Title Loan
Max APR
279.5%
264%
28%
Savings Builder Available?
No
No
Yes
3 Bureau Credit Reporting
Usually No
Almost Never
Yes
Example payment:
$500 Payment
$500 Payment
$500 Payment
Cost of borrowing
$465 interest/fees
$440 interest/fees
$47 interest
Paying down the loan
$35 principal
$60 principal
$453 principal
Time until paid off
>1 year
>10 months
<5 months
Total paid at end
>$6,407
>$5,331
<$2,124
6 Month Payment
$651 / month
$631 / month
$361 / month
Total paid
$3,907
$3,789
$2,167
Total paid
$6,083
$5,814
$2,316
Yes
Confusing fees?
Yes
No
$507 / month
12 Month Payment
$484 / month
$193 / month
$137 / month
18 Month Payment
$477 / month
$452 / month
$2,472
Total paid
$8,583
$8,147
Ready to pay less and pay off that flex loan?
Actual amounts could vary based on the frequency of and number of days before or between payments. Exact amounts rounded to the nearest dollar.
“Cost of borrowing” and “Paying down the loan” amounts estimated for first monthly payment.
BetterFi terms typically vary between 6 and 18 months. BetterFi’s maximum effective APR is 28% but rates vary between 10% and 28%.
Terms and conditions apply for any credit extended by BetterFi, and approval is not guaranteed. Nothing contained on this page constitutes a quote.