Are the figures in your examples real?
They are simple, rounded numbers chosen to show how a calculation works. They are not quotes, and real offers will differ.
FAQ
Straight answers
What is the best way to compare monthly cost?
Use it only as a test of affordability. For choosing between offers, the total you will repay over the whole term is a more reliable measure.
How does a credit search show up?
Searches appear on your credit report as entries showing who looked and when. Some are visible to other lenders and some are visible only to you.
Is a secured loan always cheaper?
Often the stated rate is lower, but not always, and the risk to your property is real. Compare the total cost and weigh it against what you could lose.
What should I keep after signing a loan agreement?
Keep a full copy of the agreement, every statement and any correspondence with the lender. If a dispute arises, a complete record puts you on firmer ground.
Understand your preliminary loan result
Check the inputs and conditions behind an estimate before treating it as a written offer.