Private & Confidential 06/03/2023

Mr Damian Szarafinski
9 Swale Path
Bedford
Bedfordshire
MK41 7XS

Dear Mr Szarafinski

Agreement number B1926093

MERCEDES-BENZ B180 BLUEEFFICIENCY SPORT MPV registration YW13GDE

Thank you for your recent request for a settlement figure. Please find below the amount that you
will have to pay if you wish to settle your agreement. If you do not want to settle your agreement,
please continue to make your agreed repayments.
Current outstanding balance £3181.00
Less any rebate to which you are entitled £330.69
Amount required to settle your agreement on or before 03/04/2023 £2850.31
If any repayments fall due between the date of this letter and 03/04/2023, you should make those
repayments and deduct the amount paid from the settlement figure.
For further information on how the settlement is calculated please see the second page of this
letter.
If you decide to settle the account after 03/04/2023, you will need to contact us for a new
settlement figure as your interest rebate will be reduced.
When making payment to settle the finance you may be required to provide us with proof of the
source of funds. If we ask for this we may be unable to close your account until we receive the
requested documents, even if we have received your final payment.
If payment of the settlement figure is to be made by a third party (e.g. a motor dealer whom you
are purchasing a new vehicle from), it is still your responsibility to ensure that we receive the
payment.
If you are changing your vehicle and would like to discuss applying for a new finance agreement
with us, please call our friendly team on 01604 402204 (option 3). All new finance applications
are subject to a an affordability assessment and will involve a credit search.

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What is a rebate?
Your total outstanding balance includes all the interest you would have to pay if your agreement
ran for its full term. A rebate is a discount on the interest you have to pay because you’re paying
the agreement off early. The rebate is deducted from your outstanding balance to work out the
settlement figure.
How is the rebate calculated?
When calculating the rebate above, we used a formula set out in the Consumer Credit (Early
Settlement) Regulations 2004 which takes into consideration information such as how much
you are repaying each month, how long is left until the end of your agreement and the settlement
date. The settlement date determines how much the rebate will be and how much you need to
pay us to settle your account. The settlement has been calculated in accordance with Regulation
3 of the Consumer Credit (Settlement Information) Regulations 1983. The settlement date we use
is:
 28 days from the date of this letter, plus
 an additional 30 days.
This means that when we calculated your rebate, we used a settlement date which is 58 days
from the date you requested a settlement figure.
Do I have pay any charges or penalties?
The Regulations also entitle us to claim compensation from you in certain circumstances if you
repay your finance early, however, we do not do this or apply any other charges or penalties.
Please note that whilst our calculations use a settlement date 58 days in the future, your
settlement quote is only valid until 03/04/2023, as set out above.
For all payments made to Billing Finance Limited via bank transfer, please use your agreement
number B1926093 as your payment reference and make payment to the bank details shown
below. Alternatively you can also make payment by visiting the payment page of our website
(https://billingfinance.co.uk/payment/) or by calling our office.

Account Name Billing Finance

Bank Name: NatWest
Sort Code: 60-15-55
Account Number: 73966479
Payment Reference: B1926093

Yours sincerely

Collections Department
Billing Finance Limited

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