Car Finance Calculator
This service is simple and easy, all you do is Search, Compare and Select the best car finance quote from the best banks and finance providers in Australia. And best of all, we give you access to real instant finance quotes that are based on finance type, vehicle age, term and financed amount. In fact, its as real as it gets online!
Apply NowNo Payout Penalty Car Finance
Save thousands on your finance contract with no payout penalties!
Taking a finance package with No Payout Penalties should be the key factor when choosing finance for your next car. The unpaid interest in the event of an early termination is not added to your total payout figure, this can protect you and in doing so can save you thousands of dollars in payout penalties.
Why do Finance Lenders and Banks have payout penalties?
The simple answer is "money", this provides finance companies with a very profitable income stream and is the one area where they make enormous profits. Most Finance Instututions retain at least 70% - 80% of the remaining interest when the car is paid out, this is again on top of the money you've already paid.
How do I know if there are payout penalties?
You will find all payout penalty wording writen within the small print of the terms and conditions of your car loan contract. Look for 'discount interest rate', 'termination fees' etc, these are examples of payout penalties. It's a legal requirement to have written into the contract terms and conditions any forms of payout penalties or ask the broker or finance company you choose this question... "What are the payout penalties or retained interest is if I payout the car early"? If they say ZERO, get it in writing!