No Payout Penalties

SGE Financial Services premium finance product has no payout penalties, this is important to you because 80% of cars that are financed are paid out early. This should be the key factor when choosing finance for your next car. The unpaid interest in the event of an early termination is not added to your payout figure, this can effectively save you thousands of dollars in payout penalties.

Why do other Finance Instututions have payout penalties? The simple answer is "money", this provides finance companies with an lucrative income stream and is the one area where they make enormous profits. Most Finance Instututions retain at least 70% - 80% of the remaining interest when the car is paid out, this is on top of the money you've already paid back.

All payout penalty wording is writen within the terms and conditions (small print) of the contract. Look for discount interest rate, termination fees etc, these are examples of payout penalties. Remember it's a legal requirement to have written into the contract terms and conditions any forms of payout penalties.