Regulated vehicle finance
Estimate your settlement figure
If you’re thinking about settling your finance agreement early, this gives you a rough idea of what you might pay. It’s useful for planning, whether that’s changing your vehicle or just clearing the balance.
This is an estimate. Only your lender can give you the formal settlement figure, and that’s the one that counts.
This is an estimate, not a lender settlement quote. It assumes a fixed monthly agreement, a first payment one month after borrowing, and all payments made on time. It uses 30-day months and excludes arrears, overpayments, payment holidays and additional lender charges. Ask your lender for the formal figure before making a payment.
Please note: This is an estimate only. It assumes all payments have been made in full and on time and uses 30-day months. Your lender will give you the formal settlement figure, which may differ.
Your estimated settlement figure
- Estimated total still to pay
- Repayments during the settlement period
- Estimated balance at the end of that period
- Estimated interest rebate
- Payments already made
APR check: Approximate APR from the figures you entered:
Compare this with the APR shown on your agreement. It is a guide only and does not change your settlement estimate.
How your estimate changes over time
| After payment | Estimated settlement |
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Only your lender can confirm the exact settlement amount and payment dates. This estimate is not a quote for new finance.
How it works
We start with what’s left to pay under your agreement, then take off a rebate for the interest you won’t be charged by settling early. The estimate uses the rebate approach in the Consumer Credit (Early Settlement) Regulations.
For agreements of a year or less, this estimate assumes 28 days. For longer agreements it assumes 58 days, including the lender’s optional extra 30 days. Your lender may use a different period. This is why your figure may be a little higher than you’d expect.
If your agreement includes a balloon payment, that’s factored in too, as it forms part of the balance still owed.
This calculator is for regulated agreements and is provided as a guide. It isn’t a settlement quotation or financial advice. To request your formal figure, contact your lender directly. If you’d like help understanding your options, message us on WhatsApp.