Lisa refinances to save up to $8,620 in 5 Years

Total Individual Cost – Apple with apple cost comparison

Rather than focus solely on just the rate, fees, discounts, or rebates, which can hide both savings and cost, flongle calculates the Total Individual Cost (Total Cost or TIC) based on your scenario. Whether comparing new loan to new loan or new loan to old loan we use the same options, numbers and methods to deliver a like with like comparison and help you understand the cost of your decisions.

In these examples the Total 5 Year Cost, savings or 5 Year Cost Difference (which is the difference between to Total Cost of one deal over another) are modelled on the same budgeted monthly repayment for all comparisons, based on the same loan term, same repayment basis and considering current interest rates, charges and concessions including rebates and discounts and assuming the borrower exits the loan after 5 years (through a refinance or by paying lump sum repayment).

It is inevitable that interest rates and some charges are likely to change over time and this will affect the actual outcome.

This case study has been used with our customer’s consent, however actors and replacement names have been used to respect our customer’s privacy.