We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

santander car finance

cazmc_2
cazmc_2 Posts: 19 Forumite
Part of the Furniture 10 Posts Combo Breaker
I have a car on finance with a settlement of 10500 im thinking of makin a lump sum payment of around 7500-8000, how will this effect the agreement.
will it be the case that I will continue to pay monthly payment until the remainder of the balance is complete bringing the initail term time down!??????

Comments

  • 27col
    27col Posts: 6,554 Forumite
    Why don't you just ask them?
    I can afford anything that I want.
    Just so long as I don't want much.
  • Apples2
    Apples2 Posts: 6,442 Forumite
    Each agreement is defferent, you would have to read the terms or ring them if in any doubt.

    If we are to guess, it would be normal that your montly payments would remain the same but the end date would be closer.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 347.2K Banking & Borrowing
  • 251.6K Reduce Debt & Boost Income
  • 451.8K Spending & Discounts
  • 239.5K Work, Benefits & Business
  • 615.4K Mortgages, Homes & Bills
  • 175.1K Life & Family
  • 252.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.