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Settling a car finance agreement
Hi, I'm hoping someone can help.
I am looking at settling my car finance agreement early, but I have noticed that my interest on the agreement is a fixed rate.
I am 10 months in to a 42 month agreement so will I have to pay the full amount of interest if I am settling early due to it being fixed or will this be deducted?
Thanks.
I am looking at settling my car finance agreement early, but I have noticed that my interest on the agreement is a fixed rate.
I am 10 months in to a 42 month agreement so will I have to pay the full amount of interest if I am settling early due to it being fixed or will this be deducted?
Thanks.
0
Comments
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Fixed rate means the interest rate doesn't change.
Settling early will reduce the interest you pay.0 -
You will save around 31 months interest on your settlement if you settle now.0
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It is a regulatory requirement that all consumer loans provide a rebate of interest on early settlement.0
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