How many quotes should I get before taking a

2 min read

3–5Quotes to compare

Soft searchProtects your file

APR + feesNot just rate

Total costThe real number

Why compare, and how many

One quote tells you nothing about whether it is good. Three to five gives a reliable read on the going rate for your profile without turning the search into a project. Beyond five you rarely learn more, and you risk clustering hard searches if any lender runs one. Use the finance-options comparison checklist to line them up.

Shopping without denting your credit

Ask each lender whether the quote uses a soft or hard search. Soft searches are invisible to other lenders and leave your file untouched, so you can gather several safely. Hard searches cluster over-eagerly can look like distress borrowing, so save them for the offer you intend to accept.

What to compare beyond the rate

The headline rate is only part of the cost. Compare the representative APR, arrangement and facility fees, early-repayment terms, whether a personal guarantee is required, and the total amount repayable over the term. The repayment calculator turns each quote into a like-for-like total so you compare pounds, not percentages.

Frequently asked questions

Will getting several quotes hurt my credit score?

Not if they use soft searches, which most quote stages do. Confirm before you proceed, and reserve any hard search for the single offer you plan to accept.

Is the cheapest quote always the best?

No. A slightly higher rate with no personal guarantee, flexible repayment or no early-settlement penalty can be worth more than a cheaper headline. Compare the whole package.