Personal Loan
A personal finance product where the financier lends the customer funds which can be used to purchase a car or other vehicle, but does not hold any security over the loan.
More FAQs
See All Topics
Payout Penalty
A monetary penalty for paying out (terminating) a vehicle finance contract early. Technically a Payout Penalty is a Retained Interest penalty, but the term can sometimes be incorrectly used to refer to a Early Termination Fee.