BMW Finance - Less the rebate?

[stabilio]

I was checking my BMW PCP finance agreement and was curious as to what my settlement figure is now and there's quite a big difference between 'Total amount due to settle the agreement' and 'Amount payable to settle the agreement before rebate'.

I am right in thinking that If i wanted to clear the finance early, its the lower 'Total amount due to settle the agreement' that I need to pay and the 'Rebate' is just the interest amount I'd save by paying things off early?

[ADJimbo]

What did BMW Finance say when you rung them up and asked them?

[SL22]

Yes. One is the original agreement as if it would run to the end. The lower price is then the amount with the interest payable over the remaining term removed.

[essayer]

ADJimbo said:

What did BMW Finance say when you rung them up and asked them?

It’s Sunday, they’re probably closed?

[stabilio]

ADJimbo said:

What did BMW Finance say when you rung them up and asked them?

They are closed on Sundays and it’s Bank holiday tomorrow so thought I’d ask here as I’m sure many also use them 😀