Car Finance Settlement Calculator

Want out of your PCP or HP? Estimate the settlement figure, your equity position, and whether the 50% voluntary termination rule is your cheapest exit.

Estimated Settlement Figure
£0
Ask your lender for the exact quote · this is a planning estimate
Your Equity (Value − Settlement)
£0
Total Amount Payable
£0
50% VT Point
£0
Paid So Far
£0
VT Available?
·
Cost to VT Today
£0
Enter your agreement to get started.
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Car Finance Settlement FAQs

How is the settlement figure calculated?
Roughly the remaining capital (including any PCP balloon) minus an early-settlement interest rebate, capped by the Consumer Credit Act at about one month plus 28 days of interest. Only the lender's quote is exact · free, valid 10-28 days · but this estimate is close enough to plan a sale or refinance.
What is voluntary termination and the 50% rule?
Section 99 of the Consumer Credit Act: once you have paid 50% of the total amount payable (all monthlies + balloon + fees), you can hand the car back and owe nothing more, regardless of the car's value. Paid less than 50%? You can still VT by paying the difference. Lenders cannot refuse · it is your statutory right, and it shines when you are in negative equity.
What if the car is worth less than the settlement?
Negative equity · normal in the first half of a PCP because cars depreciate faster than the balance falls. Options: keep paying until it flips positive, VT if you have reached the 50% point, or pay the gap to exit. Rolling negative equity into the next finance deal compounds the problem · treat it as a last resort.
Does VT hurt my credit file?
VT is a contractual right · it is not a default and no adverse marker is recorded, though the agreement shows as terminated and lenders may note it internally. Any missed payments before you VT DO get recorded, so act before arrears build. Excess mileage and damage charges can still be billed · dispute unfair ones.
Can I sell a car that has finance on it?
Not privately while the lender owns it. The clean route: get the settlement quote, sell to a dealer/online buyer who settles the lender directly, and receive (or pay) the difference. Motorway and similar services handle settlement in the transaction. Selling privately without settling is fraud on the buyer · the finance follows the car.

For informational purposes only · Not financial or legal advice · Settlement estimate uses standard amortisation; the lender's quote is definitive · VT rights: s99-100 Consumer Credit Act, excess mileage and damage may still be charged · Check your agreement