E

A fixed dollar fee applied by some lenders if you payout (end) a vehicle finance contract early. An Early Termination Fee should not be confused with a Retained Interest payout penalty.

An interest rate that attempts to reflect the true cost of a loan, including all fees & charges. When we refer to an effective interest rate in an example loan scenario we calculate it by the same formula used for a Comparison Rate, but include any extra fees applicable only in the example. This is different to a Comparison Rate as Comparison Rates do not include fees that vary dependent on a specific loan scenario.