If you payout your car loan early, our cheap car finance products can save you money.
Methods for calculating early payout loan balances can often vary by thousands of dollars.
Most financiers structure their car loans so that payments cover mainly interest for the first one or two years of the loan term so that payments have little or no effect on reducing the actual loan balance during this period.
If you choose to terminate your loan earlier than expected, the financial risk may be the sale price is less than the loan payout figure because the car’s value will have dropped faster than the amount owing, this is particularly true when you arrange new car finance.
No longer do you need to be subjected to the outdated Rule of 78 as prescribed by the banks and other leading financial institutions. We offer preferential treatment on early payout which could save you money if you decide to upgrade your car or payout your loan prior to maturity.
We will offer to waive 100% of the remaining interest charges which can often reduce your car loan payout figure and save you thousands.
Before accepting an offer of car finance from anyone else - even if they claim to offer a ‘penalty free early payout’ - you should firstly find out if the Rule of 78 is involved and ask to see a copy of your loan payout schedule which will confirm your car loan payout figure at monthly intervals.
Our car loan products are widely regarded as the best car finance and best car loans available in Australia.
