How do you calculate my Early Settlement Figure?

If you want to settle your agreement early, you can request an Early Settlement Figure, which we calculate in line with the rules set out within the Consumer Credit (Early Settlement) Regulations 2004.

We add up your remaining monthly instalments between now and the end of your agreement. We then deduct an amount to account for future interest that you’ll no longer need to pay because you’re settling the agreement early. Finally, if you have any outstanding arrears on your agreement, we add these to your Early Settlement Figure. We’ll then confirm the final figure you need to pay to fully settle the agreement, and it will be valid for 28 days from the date we calculate and confirm it. Once this figure has been paid, you will need to give the car back.

If you settle an agreement early you’ll normally always pay us less than the total remaining outstanding balance at that point. However, the level of discount you get by settling early does reduce the further along into your agreement you are. This is because the interest is spread over the whole contract term, and you pay more interest at the start of your agreement.