Paid off car finance, saying I still owe money?

[Carowner4]

I sold my car to a dealership and they paid the settlement figure of the car, I looked on my cars agreement details today and it shows the payment has been made, however says there is £2,000 still owed on the finance, which was the rebate amount, so I shouldn’t have to pay this. Will I need to contact them or will they automatically close my account now?

[anonymous-user]

Carowner4 said:

I sold my car to a dealership and they paid the settlement figure of the car, I looked on my cars agreement details today and it shows the payment has been made, however says there is £2,000 still owed on the finance, which was the rebate amount, so I shouldn’t have to pay this. Will I need to contact them or will they automatically close my account now?

You could try contacting them and asking if you need to contact them.

[grumpynuts]

You should see that disappear when the finance company sees the final payment clear.Sometimes this takes a few days.If it doesn't show after a week,ring them ank ask for the £2k to be removed from HPI.

[paul_c123]

If the vehicle check you did was good enough, it will show who has the financial interest in the car and a contact number.

[MondeoMan1981]

Contact them.

Is it Alphera by any chance?

They failed to process an interest rebate and close my partner's account in 2018 when she traded in the car for another one.

No letters no calls no nothing. First we knew was in 2021 when she applied for a new credit card and was declined.

As I work in the finance industry first thing we did was go to the credit file and there it was a default for £52 having never missed a payment and settled the agreement in full.

They initially claimed the balance was outstanding until we got a copy of the settlement figure they had provided to the dealer who in turn had paid it off.

Resultant compliant, default removed and £250 compo.