Start with the same vehicle and cash price
Record the exact vehicle, mileage, cash price and any extra products included. Two quotations for similar cars may not be comparable if one includes an additional warranty or other optional service. Ask for extras to be itemised rather than bundled into an unexplained amount.
Check the vehicle's availability, service information and preparation before paying a reservation fee. Ask for the reservation conditions in writing.
Write down every payment
Compare the deposit, amount borrowed, number of regular payments, APR, fees, any final payment and total amount payable. A cash deposit and a part-exchange allowance should be shown separately, including any outstanding finance to settle.
For a mathematical example, £200 for 60 monthly payments is £12,000 of instalments, whereas £250 for 36 is £9,000. These are not finance offers: the comparison still needs the deposit, car price, fees and any final payment. Monthly payment alone cannot tell you which agreement costs less.
- Vehicle cash price and extras
- Cash deposit and net part-exchange allowance
- APR and agreement length
- Regular instalments, fees and any final payment
- Total amount payable and ownership conditions
Separate an illustration from an offer
Our calculator is an illustration using the published representative APR, not a personalised lender quotation. Your offered rate and terms depend on the lender's assessment. Ask for the written quotation and pre-contract information before deciding.
Check whether a proposed step is an enquiry, a soft search or a full application. Avoid assuming that every online eligibility tool uses the same type of search.
Check the wider ownership budget
Add insurance, vehicle tax, fuel or charging, servicing, tyres and an allowance for unexpected repairs. A payment that fits today should also leave a reasonable buffer if household costs change.
If any figure or condition is unclear, pause and ask the broker to explain it. Nationwide Motor Finance is a credit broker, not a lender; finance is subject to status and affordability.
