Early Termination Fee
Fact Sheet
Summary
An early termination fee is charged when you pay o your car loan before the agreed end date.
This is a standard part of a contract that compensates the lender for not receiving the interest
payments they expected from you. The good news is that our clear, carefully designed fee structure
oers you maximum exibility to deal with changed circumstances. You can decide whether early
repayment is best for you and whether it will leave you better or worse o.
Early Termination Fee Frequently Asked Questions
We appreciate there are many reasons
you might wish to pay o your car loan
before the agreed end date. Things
happen in life and circumstances can
change. Remember though, that your
loan was calculated based on interest
repayments over a set period of time.
An early termination fee is a standard
part of a loan contract that protects
the lender and compensates them
for not receiving expected interest
payments – while also ensuring
maximum exibility for you.
No, the early termination fee payable
is dierent, depending on whether
you have taken out a consumer
or commercial loan with us (that
is, whether your vehicle is for an
individual or business purpose).
Read on for more on how this works.
Will I be better or worse o if I repay
early?
We’ve designed a transparent fee
structure that ensures the closer you
pay o your loan to the agreed end
date, the lower your fee will be.
(See below for examples, although
note that it depends on your
individual loan details).
The important thing is that at any
given time, you can gure out
whether you are better o repaying
your loan early or sticking to the
original loan term.
Is the fee the same for consumer and
commercial loans?
Why am I being charged an early
termination fee?