Car Finance Offer Comparison Worksheet

Who this is for

Four car finance offers, compared on what they really cost. Copy the deposit, monthly payment, term and any final payment from each quote, and the sheet works out the total payable, the cost of credit and the cost of handing the car back instead of paying the final sum, with mileage terms alongside.

Anyone choosing between dealer finance, a hire purchase deal, a personal contract plan, a lease or a bank loan for a car, and anyone who wants the whole cost in front of them before deciding on the monthly payment.

What this helps you track

• What each offer asks for at the start, each month and at the end
• The total payable over the agreement if you keep the car
• The cost of credit on top of the car's cash price
• What an offer with a final payment costs if you hand the car back instead
• Mileage limits, and the excess charge at the miles you actually drive

How to use it

1. Write the car, the miles you expect to drive in a year and the date at the top.
2. Give each offer a row in the first table: the cash price on the quote, everything paid at the start, the monthly payment, the number of months and any final or balloon payment.
3. In the second table, keeping the same order, record the type of agreement, the APR quoted, the yearly mileage allowance, the charge per extra mile and who owns the car until the end.
4. Total payable, hand-back cost, cost of credit and the yearly excess are worked out in the browser and the workbook; on paper, multiply the monthly payment by the months and add the rest.
5. Read the summary, then check each agreement's terms on early settlement, the car's condition at hand-back and insurance before you decide.

Formats

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

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 workbook uses plain formulas only — SUM, IF, COUNTIF and the like — so it opens in Excel, LibreOffice and Google Sheets without anything breaking, and every calculated cell is grey so you can see which figures it worked out.

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

How is this different from the loan repayment comparison calculator?

That sheet compares straightforward loans by total repaid. This one is built for car finance: it adds the deposit and part-exchange, a final or balloon payment, mileage limits and excess charges, and the cost of handing the car back instead of buying it.

What goes in the at start column?

Everything handed over when the agreement begins: the cash deposit, the value given for your part-exchange and any fees paid up front rather than added to the monthly payments. Use the figures on each quote so the offers are compared the same way.

What does the hand-back figure show?

On an agreement with a final payment, such as a personal contract plan, it is what you would have paid over the term if you returned the car instead of making that payment. It leaves out charges for extra miles or damage, which depend on the agreement.

Should a lease be judged on cost of credit?

Not really, because you never own the car. Read a lease's total payable as the cost of using the car for the term, and set it beside what the other offers cost if you hand the car back or sell it at the end.

Does the sheet say which offer to take?

No. It works out the figures from the quotes you copy in. Which suits you depends on whether you want to own the car, how far you drive and what you can pay each month. Read each agreement in full and check the rules where you are before signing.