Yes, the option to prepay your car finance loan is available at Muthoot Finance. Prepayment or foreclosure simply refers to paying off debt before the conclusion of the period. It's a good idea to pay off the debt when things improve financially or if money comes in suddenly.Prepayment often entails a pre-defined penalty that must be paid in lieu of the unpaid interest; however, the penalty is typically not very high and is easily manageable.