Free contract review: let us check it before you sign.

Signing a finance contract is one of the few moments where the fine print really does matter. Most borrowers are not trying to be careless - they are just being handed a contract full of unfamiliar terms, on a timeline that does not leave much room to slow down and check it properly. That is exactly the gap loan-o's free contract review is built to close.

You do not need to be a loan-o client to use it, and there is no obligation to move your finance to us afterwards. Send us the contract, and we will tell you plainly what it actually costs and what to watch for.

Education: what most borrowers miss

Loan documents are written to be legally correct, not easy to read. A few things trip up almost everyone:

• The headline interest rate is rarely the full cost - fees, charges and account costs sit outside it.
• A lower advertised rate can end up more expensive once fees are added in.
• Balloon or residual payments reduce today's repayment but do not remove the cost - they push part of it to the end of the term.
• Early payout and exit fees can make refinancing or paying off the loan early far more expensive than expected.
• Personal guarantees and security requirements are sometimes broader than borrowers realise when they sign.

APR and comparison rate: what we check first

For consumer credit, lenders are usually required to show a comparison rate alongside the interest rate - it blends the interest rate with most standard fees into one annual percentage, which is closer to an APR figure than the headline rate on its own. Business finance rarely shows this at all. Either way, the rate we start with is the one you would actually pay across the life of the loan, not the one on the advertisement.

When we review your contract, we work through:

• Interest rate versus comparison rate or true annualised cost
• Every upfront, ongoing and exit fee listed in the contract
• The total amount payable over the full term
• Any balloon, residual or lump-sum payment and when it falls due
• Early repayment and early payout conditions
• Security, guarantees and what happens if repayments are missed

For a longer walk-through of how comparison rates work, see our guide to what a comparison rate actually means.

Why loan-o offers this for free

We offer free contract reviews for the same reason we publish our Credit Guide: a borrower who understands what they are signing makes a better decision, whether that decision involves loan-o or not. Most of the time, a straight answer about a contract - good or bad - is worth more to a business owner than another sales pitch.

There is a practical side too. Borrowers who come to us for a contract review are often, later, borrowers who come back to loan-o when they next need finance - because we told them the truth the first time. We think that is a fair trade, and it costs you nothing either way.

As always, our review sits alongside - not instead of - the terms of any contract you are offered. Read our Terms & Conditions for how loan-o's services work, and speak to a solicitor or financial counsellor if you want independent legal advice before signing.

Curious what this looks like in practice? Read how a free contract review helped one Australian business owner save thousands.

Finance is subject to lender approval, lending criteria, terms, conditions, fees and charges. The information on this page is general and does not take into account your personal or business needs. A contract review is not personal financial, tax or legal advice.