Early settlement: what you actually pay

SAMA rules give you the right to settle your car loan early at any time. The financier cannot charge you the remaining years of profit — it may only charge the term cost (profit) of the three months following your settlement, calculated on the declining balance.

In practice this means the earlier you settle, the more you save. If you sell your financed car, the settlement letter from the bank states the exact payoff amount; make sure the three-month cap was applied.

Partial early payments are also allowed: the financier must accept any payment equal to one full installment or more, which reduces your balance and future profit.

Official source