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How to Get a Settlement Quote on Car Finance

Car Finance Early Settlement Figure

Sell your car with Sell Your Car 2 Jack and we'll be able to settle any outstanding car finance. We will then pay you the remainder (if there is any) in cash straight into your bank account.

Don’t forget, with a HP or PCP agreement you have to settle the finance on the car or terminate the agreement by paying off money owing before you can sell the car on. At we can help you do this.

How do I get a settlement figure on my car finance?

All you have to do is get in touch with your finance company and ask them for a “settlement figure”.

By law your lender has to post a settlement figure to you within 12 days – usually it will arrive straight away.

You will have a period – usually 10 days – in which to actually pay the amount off. If you pay by Direct Debit (DD), check on the day it normally comes out of your bank – if they receive this amount before you settle the finance then you’ll need to take the DD amount off how much you pay. You will need to provide evidence of payment to us if this is the case.

Can I save money by paying off my car finance early?

The short answer – mostly – is yes, you will save money by paying off your car finance agreement early. You get a rebate of interest, an amount laid down by the Consumer Credit Act 1974.

If you clear the balance early don’t take the whole amount outstanding and send the money – make sure you get your rebate of charges. All you have to pay is a couple of month’s interest and possibly some administration fees but check your agreement for your exact terms.

Can I settle my finance at the same time as I sell my car to pays millions of £££s every year to finance companies on behalf of motorists who sell their car to us.

Bring your settlement figure along and we’ll simply net off the outstanding amount and pay that directly to your finance company on your behalf. You’ll receive any cash left over.

I have a PCP agreement – can I settle this early and keep the car?

Yes, you should be able settle off a PCP agreement or terminate it by paying off the settlement figure. Again, read your finance agreement carefully for your exact terms.

Can I sell my car to if I have a PCP agreement?

You should be able to settle off a PCP agreement. In fact – when it comes to paying the final amount you should really check with us. Many agreements give you the right to give the car back. Don’t do that until you find out how much it is worth. Customers can sell to us rather than hand the car back as they get the additional cash because the car is worth more than the final payment.

What if my car is worth less than the settlement amount needed?

In order to get freedom from paying car finance every month on a car where you owe more than it is worth, can pay off the loan provided you advance them with the exact amount to make up the balance.

How do I find the right person to contact in my car finance company?

In order to settle your finance you’ll find the finance company’s address on the agreement you signed.

Don't forget, with a HP or PCP agreement you have to settle the finance on the car or terminate the agreement by paying off money owing before you can sell the car on to (or anyone else) although this can happen virtually at the same time but in that order.

Please remember that you have to get a finance settlement figure in order to sell your car to We facilitate the payment to your finance company for your agreement.

Please take note!

We cannot offer advice. This web page is to giving you information only. We will advance money to a finance company but this is only at the request of a customer and is merely for your convenience.

If you have a finance agreement on a car and settlement is not made then we will be unable to buy your car. Individual finance agreements will vary between finance companies and even within the same company. Therefore you are advised to read the agreement you signed with your finance company.

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