Finance a car?
Suppose I finance a car for €11,000 and pay €5,000 straight away and then about €500 every month so that it is paid off after a year. Could I, for example, pay the remaining balance after 2 months and then nothing more if I suddenly have money?
That depends on the bank. The autobanks then only require a depreciation of susceptibility. At other bank, you have a 12-month binding period to cancel with 3 months. Non-used interest will of course be reimbursed.
If you just pay your remaining rate after 3 months, it can happen that you get the money rejected. So just look into the contract or call the bank.
you have to write in the contract directly, otherwise it is not possible
or is it, but you still have to pay them all, so you have nothing of it
you have to put this clause in the contract
There’s something going on, because it’s paid off and you don’t have to leave 500€ every month but thanks
it is even economically disadvantageous to pay a debt immediately instead of guessing if you have no interest in it
This is called special redemption and is regulated in the credit agreement whether, in what amount and under what conditions this is possible.