Simon_16v
Member
Registered: 14th Aug 06
Location: Yorkshire
User status: Offline
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Hi Guys,
Sold my Seat Leon on thursday, the guy that bought the car paid the amount of finance off that I had outstanding but the finance companies system is slow and useless; i.e takes 48hours to show payment.
Essentially the car had £3700 outstanding, the guy paid £3700 for the car but now I've checked to see if it has cleared it is showing this:
Outstanding balance £446.02
Amount of rebate £477.40
Settlement £3.62
How can my rebate be £31.38 higher than the outstanding if the settlement is only £3.62?
Just thought I'd ask on here as some of you may work in this sort of area.
Thanks
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richc
Member
Registered: 24th Mar 07
Location: Ilkeston
User status: Offline
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Early Payment charges?
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richardworrall
Premium Member
Registered: 20th Sep 05
Location: Derby
User status: Offline
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daily interest, outstanding finance can change day by day.
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VrsTurbo
Premium Member
Registered: 8th Jun 10
User status: Offline
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quote:
Originally posted by richc
Early Payment charges?
My mistake
EU rules mean early part-repayments are allowed
Thanks to a change in rules on 1 February 2011, you can make partial overpayments on loans taken after this date. Banks may charge you for this, but only up to 1% of the amount repaid (if the loan is for over a year) or 0.5% (if under a year).
[Edited on 01-06-2013 by VrsTurbo]
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