TAR (Total Amount Repayable) = Monthly Repayment * Term(in months)
Cost of Credit = TAR - Amount Borrowed
Principle loan amount£5000
Term 5 years (60 months)
APR of 7.5 (this takes into account £150 fee).
Monthly repayment is £99.56
TAR = 99.56 x 60
TAR = £5973.60
Cost of Credit = 5973.60 - 5000
So you can see the cost for borrowing £5000 is £973.69. Lenders are obliged by law to print cost of credit onto loan agreement but some of them do funny things with fees and ppp so I would run a quick calculation of your own. This gives you a realistic figure by which to compare loans with.