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 that you’re currently repaying finance on. You can find out your settlement figure at any time and the lender must let you know within a reasonable amount of time.  

If you are in a hire purchase (HP) agreement, you can settle your finance at any time by paying your settlement fee and any other fees outlined in your finance agreement, such as an option to purchase fee. If you have taken out a personal loan, you can also settle your finance at any time but be aware that a fee may be charged for early settlement – all fees should be listed on your loan agreement.

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Rates from 7.9% APR. Representative APR 21.9%

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Tim Carpenter
Tim Carpenter Car Finance Expert
5 years
Total cost of credit £ 2000
Total repayment £ 2000
48 monthly
payments of
£ 245 98

Rates from 7.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £6,500 over 5 years with a representative APR of 21.9%, an annual interest rate of 21.9% (Fixed) and a deposit of £0.00, the amount payable would be £172.09 per month, with a total cost of credit of £3,825.54 and a total amount payable of £10,325.54.

We look to find the best rate from our panel of lenders and will offer you the best deal that you’re eligible for. We don’t charge a fee for our service, but we do earn a commission. This does not influence the interest rate you’re offered in any way.

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