Mercedes Finance Settlement Figure (REVISED)

CLAPTON

I am assuming that your settlement figure included the balloon payment i.e. that after you pay this money the car is yours.. is that right ?

MarkyMarkD

A settlement figure wouldn't be a settlement figure if it didn't settle off the loan. Your question doesn't make sense, CLAPTON.

7633377

CLAPTON wrote: »

I am assuming that your settlement figure included the balloon payment i.e. that after you pay this money the car is yours.. is that right ?

Yes it's all included, the next thing to worry about is i have paid the £17915.18 so by right they should not have accepted this as it's not the correct figure. I think somebody will be in trouble!!

CLAPTON

MarkyMarkD wrote: »

A settlement figure wouldn't be a settlement figure if it didn't settle off the loan. Your question doesn't make sense, CLAPTON.

Just so old boy, I'm just pointing out to the OP that I think he has missed out the fact of the balloon payment in his calculations.... just my way of saying it....a little less blunt than yourself.

MarkyMarkD

7633377 wrote: »

Yes it's all included, the next thing to worry about is i have paid the £17915.18 so by right they should not have accepted this as it's not the correct figure. I think somebody will be in trouble!!

Any lender will accept any lump sum payment you choose to make. That doesn't mean that they've accepted it as full and final settlement, and I don't see any reason why anyone should be in trouble.

MarkyMarkD

CLAPTON wrote: »

Just so old boy, I'm just pointing out to the OP that I think he has missed out the fact of the balloon payment in his calculations.... just my way of saying it....a little less blunt than yourself.

He hasn't missed it out. The total amount payable will include the balloon payment, and the settlement figure is derived from the total amount payable, less payments to date, less early settlement discount.

chelle

or similar.

They should be able to see the settlement figures you have been issued, and the fact that you have paid before the date on the £17915.85 before the 24th July, you will have no more to pay. And as you paid by switch it should be cleared funds once the monies have been received by them.

7633377

chelle wrote: »

or similar.

They should be able to see the settlement figures you have been issued, and the fact that you have paid before the date on the £17915.85 before the 24th July, you will have no more to pay. And as you paid by switch it should be cleared funds once the monies have been received by them.

O have i tryed they said and i quote "i have heard about this case and i don't want to cover old ground if you want anymore information you need to write in with your comments"

Well what can you say i was mighty peed off i have just give them over £17900 and i get spoken to like that, i wrote a letter and i bet i get no further. I only hope it gets noticed when the accounts team procces the account.

In a world of charges and penaltys for people trying to make ends meet, you cannot even settle a car finance without some plonka screwing it up. :mad:

MarkyMarkD

The fact that you've asked for settlement figures 3 times within 7 weeks means that you aren't going to be popular with them. If you'd just paid up after getting the figure you liked, there wouldn't be a problem surely.

7633377

I got a figure the first time and then a week later i made a monthly payment because the funds from my remortgage funds had not arrived, then i asked for the second settlement 10 days later to reflect the monthly payment i had made which was valid until the 24th july and thats the one i paid. It was only when i paid that they said the figure had gone up!!