1300 Car Lease

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1300 Car Lease can provide you access to car finance and leasing products that have no payout penalties. This is very important when deciding on which car finance product to choose as over 80% of car finance products are paid out early. This should be the key factor when choosing your car finance as any payout penalty can outweigh any small differences in monthly repayments or interest rates.

No payout penalty benefits

No retained interest in the event of an early payout, this can effectively save you thousands of dollars in payout penalties.

Why do banks have payout penalties?

The simple answer is "money", this provides banks with an lucrative income stream and one area where they make large profits. Most banks retain at least 25% - 30% of the remaining interest, some retain upto 80%. And this is on top of the money you've already paid back.

What should you look for?

All payout penalty wording is hidden and buried deeply within the terms and conditions of the contract. Look for discount interest rate, termination fees etc, these are examples of payout penalties.

Ask the bank, finance provider or finance broker, what is the payout penalty or retained interest. If they say none, get it in writing. 1300 Car Lease can give you access to car finance and car leasing products where you pay absolutely no retained interest, no payout penalties, in fact we have finance products with no set-up fees as well.

Want a quote?

Either complete our friendly enquiry form and we will call you shortly or call the number 1300 Car Lease (1300 227 532) and talk to an experienced car leasing consultant today.

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