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calcthai.com · Early Settlement Calculator for a Thai Car Loan
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Early Settlement Calculator for a Thai Car Loan
Work out what it costs to settle a Thai car hire-purchase agreement early, including the 60/70/100 percent interest rebate the law requires, and whether waiting a few more payments is cheaper.
Which month is cheapest to settle, counting from today
| Settle after | Discount tier | Instalments paid before settling | Settlement amount | Total over the whole contract |
|---|---|---|---|---|
| 24 payments | 70% | 0 | 333,301 | 573,301 |
| 25 payments | 70% | 10,000 | 324,694 | 574,694 |
| 26 payments | 70% | 20,000 | 316,053 | 576,053 |
| 27 payments | 70% | 30,000 | 307,376 | 577,376 |
| 28 payments | 70% | 40,000 | 298,665 | 578,665 |
| 29 payments | 70% | 50,000 | 289,918 | 579,918 |
| 30 payments | 70% | 60,000 | 281,136 | 581,136 |
| 31 payments | 70% | 70,000 | 272,317 | 582,317 |
| 32 payments | 70% | 80,000 | 263,463 | 583,463 |
| 33 payments | 70% | 90,000 | 254,573 | 584,573 |
| 34 payments | 70% | 100,000 | 245,646 | 585,646 |
| 35 payments | 70% | 110,000 | 236,683 | 586,683 |
| 36 payments | 70% | 120,000 | 227,683 | 587,683 |
| 37 payments | 70% | 130,000 | 218,645 | 588,645 |
| 38 payments | 70% | 140,000 | 209,571 | 589,571 |
| 39 payments | 70% | 150,000 | 200,458 | 590,458 |
| 40 payments | 70% | 160,000 | 191,308 | 591,308 |
| 41 payments | 100% | 170,000 | 178,743 | 588,743 |
| 42 payments | 100% | 180,000 | 169,848 | 589,848 |
| 43 payments | 100% | 190,000 | 160,899 | 590,899 |
| 44 payments | 100% | 200,000 | 151,894 | 591,894 |
| 45 payments | 100% | 210,000 | 142,833 | 592,833 |
| 46 payments | 100% | 220,000 | 133,716 | 593,716 |
| 47 payments | 100% | 230,000 | 124,543 | 594,543 |
| 48 payments | 100% | 240,000 | 115,313 | 595,313 |
| 49 payments | 100% | 250,000 | 106,026 | 596,026 |
| 50 payments | 100% | 260,000 | 96,682 | 596,682 |
| 51 payments | 100% | 270,000 | 87,279 | 597,279 |
| 52 payments | 100% | 280,000 | 77,819 | 597,819 |
| 53 payments | 100% | 290,000 | 68,300 | 598,300 |
| 54 payments | 100% | 300,000 | 58,723 | 598,723 |
| 55 payments | 100% | 310,000 | 49,086 | 599,086 |
| 56 payments | 100% | 320,000 | 39,389 | 599,389 |
| 57 payments | 100% | 330,000 | 29,633 | 599,633 |
| 58 payments | 100% | 340,000 | 19,816 | 599,816 |
| 59 payments | 100% | 350,000 | 9,939 | 599,939 |
Ask about this page
The AI assistant answers only questions about the calculator on this page.
When a lump sum comes in and you want to clear the car finance early, the first question is what it actually costs. Most people assume they owe the sum of every remaining instalment. They do not. Thai law requires the finance company to rebate the interest that has not yet fallen due, on a fixed scale set by how far through the contract you are. This page works out that legal minimum so you have a reference figure before you call the finance company.
How it works
The rebate moves in steps, not gradually. The Notification of the Contract Committee on car and motorcycle hire-purchase as a contract-controlled business, B.E. 2565 (2022), clause 2, sets three tiers for the rebate on interest not yet due. Paid up to one third of the instalments: at least 60 percent. Paid from one third up to two thirds: at least 70 percent. Paid more than two thirds: the entire remaining interest.
The step structure matters in practice. On a 60-payment contract the tier changes at payment 20 and payment 41. Someone settling after 19 payments falls in a different tier from someone settling after 20, a single payment apart. The table on this page therefore prices the whole contract at every possible settlement point, so you can see the cases where making one more payment and then settling costs less in total than settling today.
Interest not yet due is not spread evenly across the payments. This is where the most expensive misunderstanding happens. Hire-purchase quotes a flat rate: the whole interest charge is added to the principal and the total is divided into equal instalments. But working out how much interest has not yet fallen due requires the accounting method, which allocates interest against the balance actually outstanding in each period. Early payments therefore carry far more interest than later ones. Dividing the total interest by the number of payments understates the settlement figure, and produces a number you cannot defend in a conversation with the lender.
What this figure does not include. VAT on the unpaid portion, the fee to transfer the registration book into your name, any overdue instalments and default interest, and the administrative fee some lenders charge to close an account. The quote you receive will usually be a little higher. It should not be a lot higher.
If the quote is far above this figure, ask for the calculation in writing, specifying that you want the interest not yet due and the discount rate applied. That right is what the notification establishes. If it is still unresolved, the Office of the Consumer Protection Board, which issued the notification, takes complaints.
Worth weighing before you settle. The lump sum leaves your liquidity the moment you hand it over. If the effective rate on the hire-purchase is lower than what that money could earn, or you have no emergency reserve yet, continuing to pay normally may be the better call. The effective rate shown in the results is there for exactly this comparison.
Frequently asked questions
Do I owe every remaining instalment if I settle early?
No. The finance company must rebate between 60 and 100 percent of the interest that has not yet fallen due, depending on how far through the contract you are. The settlement figure is therefore always less than the sum of the remaining instalments.
What are the discount tiers?
Three, under clause 2 of the 2022 notification. Up to one third of the instalments paid: at least 60 percent of the interest not yet due. From one third to two thirds: at least 70 percent. More than two thirds: all of it.
On a 60-month contract, when does the full rebate start?
You must have paid more than two thirds of 60, so more than 40 payments. From payment 41 onward the entire remaining interest is rebated. The 70 percent tier starts at payment 20.
Is it worth waiting a payment or two before settling?
Sometimes, because the rebate jumps in steps. If you are one payment short of a tier, the extra rebate can exceed the instalment you would pay to get there. The table prices the whole contract at every settlement point, and the calculator only suggests waiting when it genuinely costs less.
Why does the finance company quote a different number?
This figure is the legal minimum and excludes VAT on the unpaid portion, the registration transfer fee, overdue instalments and default interest. The real quote is usually slightly higher. If it is much higher, ask for the calculation in writing.
Do I get the registration book immediately after settling?
The lender must transfer the vehicle registration into your name once payment is complete. It generally takes a few weeks and carries a processing fee. Ask about the timeline and that fee when you request the settlement figure.
Sources
- Notification on car and motorcycle hire-purchase, B.E. 2565 (OCPB)
- Office of the Consumer Protection Board
Rates last verified 2 Sep 2026