Cash Back or Low Interest Calculator

Find out which option saves you more with our savings comparison calculator. Enter purchase amount, cashback percentage, and loan term to compare total costs and savings. Cash Back Low Interest Purchase Amount ($): Cash Back (%): Annual Interest Rate (%): Loan Term (Months): Calculate Cash Back Savings: Monthly Payment (Cashback): Monthly Payment (Low Interest): Total Cost (Cashback): Total Cost (Low Interest): Savings: Estimates only. Not financial advice. Terms | Privacy .financing-calculator { font-family: Arial, sans-serif; max-width: 800px; margin: 20px auto; padding: 20px; border: 1px solid #ddd; border-radius: 8px; background-color: #f9f9f9; } header { text-align: center; margin-bottom: 20px; } h2 { color: #333; } p { color: #666; line-height: 1.6; } .mode-toggle { margin-bottom: 15px; display: flex; justify-content: center; } .mode-toggle label { margin: 0 10px; padding: 8px 15px; border: 1px solid #ccc; border-radius: 4px; background-color: #eee; cursor: pointer; transition: background-color 0.2s; } .mode-toggle input[type="radio"] { margin-right: 5px; display: none; } .mode-toggle input[type="radio"]:checked + label { background-color: #007bff; color: white; border-color: #007bff; } .form-group { margin-bottom: 15px; } label { display: block; margin-bottom: 5px; font-weight: bold; } input[type="number"] { width: 100%; padding: 10px; border: 1px solid #ccc; border-radius: 4px; font-size: 16px; } button { background-color: #28a745; color: white; padding: 12px 20px; border: none; border-radius: 4px; cursor: pointer; font-size: 18px; width: 100%; transition: background-color 0.3s; } button:hover { background-color: #218838; } .error-message { color: red; font-size: 0.8em; margin-top: 5px; display: none; } .results-section { margin-top: 30px; border-top: 1px solid #ccc; padding-top: 20px; } .result-item { margin-bottom: 15px; padding: 10px; border: 1px solid #eee; border-radius: 4px; background-color: #fff; } h3 { margin-bottom: 5px; color: #333; } /* Style for the result values */ .result-value { font-size: 1.2em; font-weight: bold; color: #007bff; /* Or your preferred accent color */ } /* Style for the savings message */ .savings-message { font-size: 1.1em; font-weight: bold; color: #28a745; /* Green for positive savings, adjust as needed */ } footer { text-align: center; margin-top: 30px; padding-top: 20px; border-top: 1px solid #ccc; font-size: 0.9em; color: #888; } /* Responsive Design */ @media (max-width: 600px) { .financing-calculator { padding: 10px; } .mode-toggle { flex-direction: column; } .mode-toggle label { margin: 5px 0; width: 100%; text-align: center; } } document.addEventListener('DOMContentLoaded', () => { const purchaseAmountInput = document.getElementById('purchaseAmount'); const cashbackPercentageInput = document.getElementById('cashbackPercentage'); const interestRateInput = document.getElementById('interestRate'); const loanTermInput = document.getElementById('loanTerm'); const calculateBtn = document.getElementById('calculateBtn'); const resultsSection = document.querySelector('.results-section'); const cashbackSavingsEl = document.getElementById('cashbackSavings'); const monthlyPaymentCashbackEl = document.getElementById('monthlyPaymentCashback'); const monthlyPaymentLowInterestEl = document.getElementById('monthlyPaymentLowInterest'); const totalCostCashbackEl = document.getElementById('totalCostCashback'); const totalCostLowInterestEl = document.getElementById('totalCostLowInterest'); const savingsComparisonEl = document.getElementById('savingsComparison'); const cashbackFields = document.querySelector('.cashback-fields'); const lowinterestFields = document.querySelector('.lowinterest-fields'); const modeToggles = document.querySelectorAll('input[name="mode"]'); const errorMessages = { purchaseAmount: document.getElementById('purchaseAmountError'), cashbackPercentage: document.getElementById('cashbackPercentageError'), interestRate: document.getElementById('interestRateError'), loanTerm: document.getElementById('loanTermError') }; const formatCurrency = (amount) => { return new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD', minimumFractionDigits: 2 }).format(amount); }; const calculateMonthlyPayment = (principal, annualInterestRate, loanTermMonths) => { const monthlyInterestRate = annualInterestRate / 12 / 100; const numberOfPayments = loanTermMonths; if (monthlyInterestRate === 0) { return principal / numberOfPayments; } const monthlyPayment = (principal * monthlyInterestRate) / (1 - Math.pow(1 + monthlyInterestRate, -numberOfPayments)); return monthlyPayment; }; const validateInput = (inputElement, errorMessageElement, validationFunction) => { const value = inputElement.value.trim(); if (!validationFunction(value)) { errorMessageElement.textContent = "Invalid input."; errorMessageElement.style.display = 'block'; return false; } errorMessageElement.style.display = 'none'; return true; }; const validateNumber = (value) => { return !isNaN(parseFloat(value)) && isFinite(value) && parseFloat(value) >= 0; }; const validatePercentage = (value) => { return !isNaN(parseFloat(value)) && isFinite(value) && parseFloat(value) >= 0 && parseFloat(value) { const selectedMode = document.querySelector('input[name="mode"]:checked').value; if (selectedMode === 'cashback') { cashbackFields.style.display = 'block'; lowinterestFields.style.display = 'none'; } else { cashbackFields.style.display = 'none'; lowinterestFields.style.display = 'block'; } }; modeToggles.forEach(toggle => { toggle.addEventListener('change', updateFieldsVisibility); }); const calculate = () => { let isValid = true; isValid = validateInput(purchaseAmountInput, errorMessages.purchaseAmount, validateNumber) && isValid; const selectedMode = document.querySelector('input[name="mode"]:checked').value; let cashbackPercentage = 0; let interestRate = 0; if (selectedMode === 'cashback') { isValid = validateInput(cashbackPercentageInput, errorMessages.cashbackPercentage, validatePercentage) && isValid; cashbackPercentage = parseFloat(cashbackPercentageInput.value); } else { isValid = validateInput(interestRateInput, errorMessages.interestRate, validatePercentage) && isValid; interestRate = parseFloat(interestRateInput.value); } isValid = validateInput(loanTermInput, errorMessages.loanTerm, validateNumber) && isValid; if (!isValid) { resultsSection.style.display = 'none'; return; } const purchaseAmount = parseFloat(purchaseAmountInput.value); const loanTermMonths = parseInt(loanTermInput.value); // Cash Back Calculation const cashbackAmount = (purchaseAmount * cashbackPercentage) / 100; const principalCashback = purchaseAmount - cashbackAmount; const monthlyPaymentCashback = calculateMonthlyPayment(principalCashback, 0, loanTermMonths); // No interest const totalCostCashback = monthlyPaymentCashback * loanTermMonths; // Low Interest Calculation const monthlyPaymentLowInterest = calculateMonthlyPayment(purchaseAmount, interestRate, loanTermMonths); const totalCostLowInterest = monthlyPaymentLowInterest * loanTermMonths; // Savings Comparison let savings = 0; if (selectedMode === 'cashback') { savings = totalCostLowInterest - (purchaseAmount - cashbackAmount) ;// Savings is the difference in total cost } else { savings = (purchaseAmount - (purchaseAmount * cashbackPercentage / 100)) - totalCostLowInterest; } let savingsMessage; if (savings > 0) { savingsMessage = `You would save ${formatCurrency(Math.abs(savings))} with the cash back option.`; } else if (savings < 0) { savingsMessage = `You would save ${formatCurrency(Math.abs(savings))} with the low interest option.`; } else { savingsMessage = `The total costs are the same.`; } cashbackSavingsEl.textContent = formatCurrency(cashbackAmount); monthlyPaymentCashbackEl.textContent = formatCurrency(monthlyPaymentCashback); monthlyPaymentLowInterestEl.textContent = formatCurrency(monthlyPaymentLowInterest); totalCostCashbackEl.textContent = formatCurrency(totalCostCashback); totalCostLowInterestEl.textContent = formatCurrency(totalCostLowInterest); savingsComparisonEl.textContent = savingsMessage; resultsSection.style.display = 'block'; }; calculateBtn.addEventListener('click', calculate); updateFieldsVisibility(); });