×

Win your car finance with CarFinance 247


If you win, we'll pay off the finance on your car. It's that simple! Your car becomes completely yours, free and clear.

This amazing offer is open to anyone who has secured car finance with us throughout 2023, including Decemeber 2023!

This means that there's still time to enter, get your finance in December, and you're automatically in!

The lucky winner will be announced the week beginning 5th February 2024 on our instagram page.

Terms and Conditions apply.

What is a Settlement Figure?

Tim Carpenter

A settlement figure, when talking about car finance, is the amount of money you still owe on your loan or finance agreement, including interest. It might be important to know this figure if you need to sell or replace a car before your car finance agreement ends

Can I settle my car finance early?

The short answer is, yes. And it might help you save money overall; depending on the terms of your agreement, the quicker you can pay off your car finance agreement the less interest you’ll pay.  

If you want to sell your car, the first thing to do is contact the finance company and ask them for a settlement figure – the amount of money it will cost to pay off your loan in full. This figure is typically valid for a certain time frame. If your direct debit is due, make sure to ask how this will affect the figure.  

Alternatively, if you have a hire purchase agreement, you could sell your car privately when you’ve finished making repayments at the end of the loan term.

What does my settlement figure mean? 

Your settlement figure is the amount you’ll need to pay when ending your finance agreement early. Remember that the lender owns the car until the balance is paid off in full or a settlement figure has been paid to end the agreement. If you don’t do this, buyers running background checks on the car will see that it still has outstanding finance to payIt’s important to note the details of your agreement though, as some lenders will not allow you to sell the car before the finance is settled.  

If you’re looking for a new set of wheels and think you may take out finance again, you might want to learn more about part exchange.  

How do I request a settlement figure? 

If you want to settle your car finance agreement ahead of time, you can request an early settlement figure from your lender.

How are settlement figures calculated? 

To calculate your settlement figure, the lender will add up your remaining monthly instalments between now and the end of your agreement and take away any future interest that you won’t need to pay. Finally, any arrears will be added. You’ll receive your settlement figure in writing to confirm. 

The further you are into your agreement, the lower your settlement figure may be. But be aware that you might have to pay early settlement fees – read your agreement carefully to find out more.  

Your lender will then confirm your final settlement figure – this will usually be valid for 28 days.  

Get my quote
Rates from 9.9% APR. Representative APR 19.9%

Liked by 10 People


Tim Carpenter
Tim Carpenter Car Finance Expert
Get my quote
Rates from 8.9% APR. Representative APR 19.9%




Rates from 8.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £10,000 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £255.50 per month, with a total cost of credit of £5,329.80 and a total amount payable of £15,030.

We look to find the best rate from our panel of lenders and offer you the best deal that you're eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.

5 years
Total cost of credit £ 2000
Total repayment £ 2000
48 monthly
payments of
£ 245 98

Rates from 9.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £25,000 over 48 months, £3,750.00 deposit, on PCP, with annual mileage of 8,000pa, and a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed), the amount payable would be £394.51 per month, an optional final payment of £7,194.33, with a total cost of credit of £9,912.36 and a total amount payable of £28,444.33. 

We look to find the best product from our panel of lenders and will offer you the best deal that you’re eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.

Can't find the right answer?

Our Manchester based team are ready to help you.


* The UK's largest online car finance broker by unique users to the website. Based on Similar Web data – 1,137,647 to CarFinance 247 vs. 753,819 for nearest competitor. January to June 2023.

CarFinance 247 is a trading name of CarFinance 247 Limited. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. (Registration Number 06035525).

CarFinance 247 is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 653019). CarFinance 247 is registered with the ICO (Registration Number Z1897658).

Finance is subject to status and is only available to UK residents aged 18 and over. Written quotations are available on request.

This site uses cookies so that we can provide you with the best user experience. By continuing to use the site you are consenting for cookies to be used. Further information on cookies and how you can disable them is available on our cookie policy.