Before You Borrow Checklist

Who this is for

Know the terms before you sign. Work through the checklist with the agreement or quote in front of you, writing the figure or answer against each item, then set two offers side by side.

Anyone considering a personal loan, credit card, car finance, buy now pay later or store finance, and anyone helping a family member understand an agreement before they commit.

What this helps you track

• The rate, the fees and the total you would repay
• The term, the payment amount and when payments fall
• What happens if you repay early or miss a payment
• Whether anything is secured and how long you have to cancel
• Two offers compared on the same lines

How to use it

1. Write the lender, the product, the amount you want to borrow and the date.
2. With the quote or agreement in front of you, go through each item, tick it when found and write the figure or answer beside it.
3. Where the paperwork does not answer an item, ask the lender and write down the reply and who gave it.
4. Fill in the comparison table for two offers, using the same lines for each.
5. Do not sign until every item has an answer you understand; check the rules where you are on cancellation and complaints.

Formats

• Printable PDF (A4 and US Letter)
• Fillable PDF with form fields
• Fill in online, saved in your browser

The printable is laid out inside a box that fits both A4 and US Letter, so the two files are identical and neither one is scaled. The fillable PDF has real form fields. The online version keeps what you enter in your own browser and builds the completed PDF on your device.

How to print

Download the A4 or US Letter file to match the paper in your printer, open it in a PDF reader and print at 100% — not "fit to page", which shrinks the writing space. Both files leave a 14 mm margin, which clears the unprintable edge on home printers. To print the online version with your entries in it, use the Print this sheet button, which prints only the sheet and none of the page around it. More on printing.

Questions

Which figure matters most?

The total amount repayable is the clearest single comparison, because it includes interest and fees over the whole term. Compare it alongside the monthly payment, which is what has to fit your budget.

Does this tell me whether a rate is good?

No. The checklist supplies no rates or benchmarks; it makes sure you have the figures. Compare them across the offers you have, and use the loan repayment comparison calculator for the arithmetic.

What does secured mean here?

That something you own, such as a home or car, can be taken if the debt is not repaid. Write down exactly what the agreement names; if you are unsure, ask the lender before signing.

Is there always a cancellation period?

It depends on the product and on the rules where you are. Write down what the agreement states and the last date to cancel, and check with an independent advice service if it is unclear.