A Financing Comparison Worksheet Contractors Can Use With Any Customer
A financing comparison worksheet is a one-page form you fill in for each customer. It lists the same fields on every job: the project cost, the monthly payment for each term, the total the customer pays over that term, and the questions you confirmed with the lender. Used the same way every time, it turns several financing offers into one comparison a homeowner can follow.
Most contractors already compare options in their heads. The trouble starts when that comparison lives in one rep's memory, a text thread, or a different spreadsheet for each sales call. Two reps quote the same job with different numbers and different fields, and the customer cannot tell which figure to trust. A shared worksheet solves that problem.
This guide gives you the fields, the formulas, a completed example, and the lender questions to add. It does not re-explain how APR and term length work. If you want that math first, read financing terms explained: APR, term length, and monthly payment.
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> Key Takeaways
> - One worksheet per customer, with the same fields every time, makes financing offers easy to compare.
> - In the illustrative $12,000 example below, the 120-month option costs about $6,240 more than paying cash.
> - Pull each payment from the lender's written quote, not from memory.
> - Ask about fixed rates, customer-paid fees, and funding time before any option goes on a quote.
What Fields Belong on a Financing Comparison Worksheet?
A useful worksheet has seven fields, in this order: customer and project, cash price, deposit, term options, monthly payment, total paid, and lender questions. Each field answers a question the customer will ask at the kitchen table, so the order follows the conversation. Keep the list identical on every job so no field gets skipped.
!A contractor reviewing a financing program sheet on a tablet at a bright desk in daylight.
Here is what each field does:
- Customer and project: the customer's name, the property address, and the signed scope number. This ties the sheet to one job.
- Cash price: the project cost if the customer paid in full. Every financed option is measured against this number.
- Deposit: any amount paid at signing, with the financed amount written beneath it.
- Term options: each term the lender offers for this product, in months.
- Monthly payment: the figure from the lender's written quote for each term.
- Total paid: the monthly payment multiplied by the number of months.
- Lender questions: a checklist of what you confirmed before the customer signed.
- Is the rate fixed or variable for the full term?
- Does the monthly payment include every charge, or are there fees on top of it?
- Which fees, if any, does the customer pay, and when are they due?
- Is there a charge for paying the loan off early?
- How long do approval and funding usually take, and what does the customer need to provide?
- Which products and term lengths are available for this project?
The cash price column matters most. Without it, the customer sees a monthly number and no reference point, which makes a longer term look like a bargain even when its total cost is much higher.
How Do You Fill In the Financing Comparison Worksheet for One Customer?
Fill the sheet from the top down, and take every number from a written source. Start with the signed project cost, enter any deposit, then copy each term and monthly payment directly from the lender's quote. Calculate total paid with one multiplication, then write the difference against cash beside it.
1. Enter the project cost from the signed scope. Do not use a number from an earlier estimate.
2. Enter the deposit, if any. Subtract it from the project cost to get the financed amount.
3. List each term the lender offers for this product. Battery energy storage terms are listed in months, with Eos Loan terms running 6 to 240 months. For EV chargers and water filtration, write "flexible terms" and confirm the available lengths with the lender.
4. Copy the monthly payment for each term from the lender's written quote. Do not estimate it from the rate.
5. Calculate total paid. Multiply the monthly payment by the number of months.
6. Calculate the difference against cash. Subtract the project cost from the total paid.
The arithmetic is simple enough to do on a phone during the appointment. Keep amortization details out of the conversation unless the customer asks for them. The customer needs the monthly figure, the total, and the gap between them.
Most comparisons stop at the monthly payment. Adding a total-paid row beside the cash price gives the customer a fairness check on the cost of time, and it protects you if a customer later asks why a longer term costs more.
What Does a Completed Financing Comparison Worksheet Look Like?
A completed worksheet places the cash price beside every financed option, so the customer sees the monthly figure and the total cost together. The example below uses an illustrative $12,000 battery energy storage project with no deposit and three hypothetical terms. The 9% rate is a placeholder for this example only.
!A desk with printed financing paperwork and a calendar, photographed in warm daylight.
| Option (illustrative) | Monthly payment | Total paid | Difference vs. cash |
|---|---|---|---|
| Cash | None | $12,000 | $0 |
| 36 months | $382 | $13,752 | +$1,752 |
| 60 months | $249 | $14,940 | +$2,940 |
| 120 months | $152 | $18,240 | +$6,240 |
All figures are illustrative, calculated at a hypothetical 9% annual rate for this example. They are not an Eos Loan rate, quote, or approval.
Read the table from left to right. The 36-month option carries the highest monthly payment and the smallest total cost. The 120-month option carries the lowest monthly payment and the largest total cost. Neither is the right answer on its own, and the worksheet lets the customer choose with both numbers in view.
Lender Questions to Confirm Before an Option Goes on a Quote
Ask the lender these questions before any option appears on a customer quote, and write each answer on the worksheet. The most important are whether the rate is fixed, which fees the customer pays, whether early payoff carries a charge, and how long approval and funding take. Get every answer in writing so the quote and the lender's terms match.
Ask the lender to show the APR and the total of payments in writing on the quote. Federal rules govern how the APR is calculated and disclosed (CFPB, Regulation Z section 1026.22), and lenders must also disclose a total of payments figure (CFPB, Regulation Z section 1026.18). Compare that figure with the total you calculated on your worksheet.
Eos Loan charges no dealer fee, so the dealer fee line on an Eos Loan worksheet reads zero. Every option is subject to approval and eligibility, and the worksheet does not promise a result. The lender questions still belong on the sheet, because the customer should see the same checklist whichever lender you use.
For a broader checklist on choosing the lender itself, read how to choose a financing partner: a contractor checklist. That guide covers partner selection, so this worksheet only checks the offer on the table. For the disclosure rules that apply to the offer, read financing disclosures contractors should know.
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How Often Should You Use the Worksheet in Your Sales Process?
Use the worksheet on every quote where you offer financing, and keep the layout the same from rep to rep. A consistent format keeps the comparison fair to the customer and makes it easy to see which fields get skipped. Place the sheet in the same spot on every quote, usually right after the cash price, so the customer always reads the two numbers together.
Store the signed copy with the scope of work. If the customer later asks which term they agreed to, the number on file should match the one they chose. Review skipped fields once a month, and use contractor financing metrics to track to decide which numbers belong on your review list.
The worksheet supports the case for financing but does not repeat it. For evidence on how financing affects close rates, see how offering financing increases contractor close rates.
Where Does the Worksheet Fit in a Full Financing Program?
The worksheet is one tool inside a wider financing program. It is not a sales script or a lender selection method. It works best alongside a clear program design, a short plan for objections, and a disclosure review, and each of those has its own guide.
Start with the contractor guide to offering customer financing in 2026 for the full program. When a customer pushes back on the monthly number, financing objection handling for contractors covers the conversation. If a customer asks about the fee structure, dealer fees explained shows what to look for on the quote.
Frequently Asked Questions
{ question: "How do I compare two financing offers for the same customer?", answer: "Put both offers on one worksheet using the same project cost. Compare the total paid as well as the monthly payment, then check which fees the customer pays and how each lender handles early payoff. The total paid column shows the cost of a longer term that a monthly number can hide." },
{ question: "Does a financing comparison worksheet guarantee approval?", answer: "No. Every option is subject to approval and eligibility, and the lender makes the final decision. The worksheet is a comparison tool. It helps the customer see the numbers, but it does not promise a result or a specific rate." },
{ question: "Does Eos Loan charge a dealer fee?", answer: "No. Eos Loan charges no dealer fee, so the dealer fee line on an Eos Loan worksheet reads zero. Ask every lender to show each fee the customer pays in writing before you add the option to a quote." },
]} />
Build One Worksheet and Use It on Every Job
A financing comparison worksheet works only when you use it the same way on every job. Keep one sheet per customer, fill in the same fields, pull each payment from a written lender quote, and show total paid beside the cash price. Do that consistently, and the comparison becomes a fair, repeatable step in every quote you write. Save a blank copy as your template, then add the lender questions that match the products you sell.
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About the author: Eduardo Donadi is the CEO of Eos Loan, the fintech built to finance essential projects (battery energy storage, EV chargers, and water filtration) for installers, contractors, and resellers across the United States.