Switchboard Finance logo – Payout Figure glossary

Payout Figure

A Payout Figure is the total amount required to completely pay out an asset finance contract — such as a Chattel Mortgage, Hire Purchase, Finance Lease, or Operating Lease — before or at the end of the agreed Term Length.

It is commonly used when a business wants to upgrade a vehicle, refinance for a better rate, sell the asset, or complete an Early Termination.

Copy/Paste: Payout Figure Request (Email)

  • Ask for the valid-until date (most figures expire in 7–14 days).
  • Confirm per-day interest (so you know what changes daily).
  • Request all fees/break costs and the exact payment instructions.
Subject: Payout figure request — [Account/Loan number]

Hi team,
Can you please provide a payout figure for my loan [account/loan number] as at [date], including any fees/break costs, and confirm:
1) the valid-until date, and
2) the payment instructions.

Thanks,
[Name]

Why It Matters

Understanding your payout figure helps you manage cashflow, refinancing, and asset upgrades across industries in the Tradie Hub, Truckie Hub, Café Hub, and Whitecoat Hub.

Your payout figure may include or interact with:

Once paid out, lenders release the PPSR security so the asset can be sold or refinanced.

How It Works

  • You request a payout figure from your lender (usually valid for 7–14 days).
  • The lender calculates remaining principal plus interest adjustments.
  • If applicable, a balloon or residual is added.
  • You pay the figure at Settlement.
  • The lender removes the PPSR security and closes the account.

This process is common when upgrading or refinancing through the Business Owners Finance Hub or switching to a new structure via Equipment Finance or Vehicle Finance.

What Affects the Payout Figure?

  • how far you are into the loan term
  • whether the contract uses a Fixed Rate or Variable Rate
  • balloon or residual structure
  • lender discharge or break fees
  • interest rebate formula

These concepts are also covered in Switchboard blogs such as Are Low Doc Equipment Loans Worth It? and Equipment Finance Application Mistakes.

Related Switchboard Resources

For tax treatment of asset payouts, see ato.gov.au.

Does the payout figure include the balloon?
Yes — balloons and residuals are included and become payable at the time of payout.
Can I refinance after paying the figure?
Yes — and many clients refinance through Switchboard for better rates or terms.
Is the payout figure the same as the loan balance?
No — the payout figure includes adjusted interest, fees, and balloons or residuals.
What should I ask for when requesting a payout figure?
Ask for the valid-until date, per-day interest amount, any break/discharge fees, and the exact payment instructions so you can settle without surprises.