This is a question I was wondering if anyone could give some insight..

Yup agreed the savings is not much, but it would still be a saving rather than paying until the term ends no?

For example: if the monthly installment is RM 600 and remaining 12 months, you would pay RM 7200 but if you settled it would be RM 6900 (maybe, just an example).

If you have an extra 7k lying around (not taking a loan), would you opt for settlement or would you use the 7k for an investment?