Rollover Cost Calculator
Enter the amount, the fee per $100, the days in each term and how many times the loan gets rolled over. You get the fee per term, the total fees, what it takes to close the loan, the APR, and a table of the running total after every extension.
| Stage | Day | Fees paid so far | To close the loan |
|---|---|---|---|
| Original loan | 14 | $45.00 | $345.00 |
| Rollover 1 | 28 | $90.00 | $390.00 |
| Rollover 2 | 42 | $135.00 | $435.00 |
| Rollover 3 | 56 | $180.00 | $480.00 |
What a Rollover Actually Is
A payday loan is due in full on one date. If the money is not there, the lender may offer to extend it: you pay the finance charge, the due date moves out by another term, and the principal stays exactly where it was. That is a rollover. Some agreements call it a renewal, a refinance or an extension. Some states ban rollovers but allow you to repay and take a new loan the same day, which costs the same. Whatever the name, the arithmetic is one fee per term with nothing coming off the balance.
The calculator takes the amount, the fee per $100, the days in a term and the number of times you roll it. It returns the fee each term, the total fees, what it takes to close the loan and the APR, and the table above lists the running total after every extension. Change the rollover count and watch the last row.
Worked Example: $300, Rolled Three Times
- Fee each term: $300 x 15 / 100 = $45.
- Terms: the original loan plus three rollovers = 4. Fees: 4 x $45 = $180.
- To close the loan after the third rollover: $300 + $180 = $480.
- Time: 4 x 14 = 56 days.
- APR: 45 / 300 = 0.15. Times 365 / 14 (26.07) = 3.911, or 391.1%.
The APR does not move when you add rollovers. Check it: 180 / 300 = 0.6, times 365 / 56 (6.518) = 3.911. Same figure, because each extension repeats the same fee for the same number of days. What moves is the total. After the sixth rollover, seven terms in, fees reach 7 x $45 = $315. You have now paid more in fees than the $300 you borrowed, 98 days have gone by, and the $300 is still due.
Partial principal payments are the one thing that changes the slope. Where the lender allows it, paying $50 toward the balance at the first rollover makes the next fee $37.50 instead of $45, because the fee is charged on $250. Not every state or lender permits it. Ask before you hand over the fee, not after.
Frequently Asked Questions
Is a rollover the same as a renewal or an extension?
In cost, yes. All three mean you pay the finance charge, the due date moves out one term, and the principal stays where it was. The names matter only for state law: some states ban "rollovers" but permit a back-to-back loan, where you repay and borrow again the same day. Your state page lists which rule applies.
Why does the APR stay the same no matter how many times I roll over?
Because every extension repeats the same fee for the same number of days. 45 / 300 x 365 / 14 gives 391.1%; 180 / 300 x 365 / 56 gives the same 391.1%. The APR measures the rate of the charge, and rollovers do not change the rate. They change how long you pay it, which is what the total fees line and the table show.
What is an extended payment plan?
A repayment schedule, usually four equal installments with no added fee, that many states require lenders to offer when you cannot repay on the due date. In most of those states you have to ask before the loan is due, and the lender may only be required to offer it after a set number of consecutive loans. Ask by name: "extended payment plan".
Does rolling over a payday loan hurt my credit?
Not by itself. Most payday lenders do not report on-time payments or rollovers to the three major bureaus. A default does show up if the lender sells the balance to a collection agency that reports, and a bounced repayment debit can cost you bank fees on top of the lender's returned-payment fee.
Can I pay part of the principal when I roll over?
Some lenders and some states allow it. At $15 per $100, paying $50 toward a $300 balance at the first rollover drops the next fee from $45 to $37.50 (250 x 0.15), and the one after that if you keep going. It is the only way a rollover moves you forward, so ask whether it is an option before you pay the fee.
