Fees and comparison rate
Check application, monthly and early payout fees. Compare products using the comparison rate, not just the headline rate.
Balloons and residuals
Large balloons lower repayments but increase end-of-term risk. Ensure you have a plan to pay, refinance or cover via trade-in.
Break costs and early payout
Fixed loans may have break costs; variable loans can have early termination fees. Ask how they’re calculated.
Insurance and add-ons
Optional add-ons (gap, mechanical, tyre) can be financed but increase total cost. Buy only what you need.
Practical tip
Ask the lender for a worked example including all fees and, if relevant, balloon refinancing at end.