Paying a loan can I thamespirate

If I get a load accepted for 18,242 but my resettlement is 18,590 can i then pay off a capital balance of 18, 242, leaving the loan open with the remainder £348, which is less than the monthly repayment , which will end the loan then the next month this figure includes the repayment charge of £150,00 , the existing loan is a not very nice company 11.60 % , the new is 3% no early repayment charge due , had 4 years 6 months left to pay , new loan only will be 48 months [ 4 years] thank any help is appreciated .

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