Car finance settlement calculator

This amount includes the remaining balance, interest, and any early settlement fees.

Here’s a general formula to calculate the settlement amount manually:

1. Outstanding balance: Start with the total amount still owed on the loan.
2. Early repayment interest: This can vary based on the lender but is often a portion of the remaining interest on the loan.
3. Early settlement fee: Some lenders may charge a fee for early repayment.

The calculation would look like the below:

Settlement Amount = Outstanding Balance + Interest Adjustment + Early Settlement Fee