With most personal loans, you can either keep up with the agreed payments or settle in full (and save interest) and there isn't often the option to partly settle without the cost of taking out a new loan agreement. If it is a car finance agreement rather than a personal loan, you would not save much interest by settling early.

If you speak to the lender as soon as you can, I expect that they will be willing to change the loan term.

im in the middle of buying a used car for £6295, and i am looking to finance £4094 of that, im 22yrs old and have currently agreed to paying £113 over 48 months cost of intrest £1474 incl all set fees (2x£175) with santander via a dealer, i made the aggrement 4 days ago and so i am still within my 14 day cool down period, is it possible to change the terms of my contract still to just 24 month at around £200 (my est). and also if i were to keep the current aggrement and just add extra lumps of cash to repay early "here and there" will that reduce the amount of intrest i have to pay or is that fixed in the agreement? ie i repay £2000 early will the total repayable intrest figure remain at £1474 or will that drop becuase the amount/ duration is affected by early repayment?

Thanks alot

Tom.