I've recently decided to sell my car. I took out some finance by a company called Mallard based in the south of England. The cost of the car was £7,990. The total payments over 4 years comes to £13,074, or 61%. That equates to around 15.2% a year for 4 years. I have paid £7395 to date and have 21 months left to pay. I calculate that the settlement should be around the £3,200 mark as I shouldn't have to pay interest on money I've settled. That would make my finance costs over 27 months of £2,605, or around 32%. Again, around 15% per year roughly. They have quoted me a settlement of £4,916! That would mean interest of 54%, or roughly 26% a year??!! Is it legal for them to effectively increase the % of actual interest paid for early settlement? Does anyone know if I have some recourse on this? Many thanks