Incorrect settlement figure

Perkinskerryl

I took out hire agreement on a new car which was unfortunately written off in a no fault accident. I kept the finance company updated with the claim and informed them when I knew the car was written off. I got a finance settlement figure in writing but when I came to pay it off after receiving the insurance payment it was over £3,000 more. It turns out the finance company made a mistake and hadn't added on the interest or VAT to the settlement figure. Can I challenge them and pay the written settlement figure without the interest and VAT?

[Deleted User]

No. .

Perkinskerryl

Even though it's their mistake in giving me the wrong settlement figure?

[Deleted User]

Yes.

As you say, it's a mistake.

Caz3121

do you have gap insurance?
there would often be a delta to pay between amount still due to pay on vehicle and the valuation that the insurers use
If they had told you at the time it was £3k more, you would still have got the same payment from the insurance and still be in the same position.

Bermonia

You seriously mean to say that you think you can just walk away from what is actually owed due to an ever so minor admin error... This isn’t Monopoly and bank error in your favour isn’t gonna pay out.