PCP closing balance negative?

mjkk77

Dear all,
In June I have replaced my PCP Skoda Octavia (on 7.32% interest) for Toyota (0%). On 25/06 I have paid my last DD for Skoda £199.47 and on 01/07 Toyota transferred the settlement figure that was quoted on 08/06 for £9,018.65 by Skoda Financial Services, this settlement figure was valid until 06/07.
Settlement figure was quoted prior to that last DD on 25/06, called Skoda and they have advised me that no refunds will be made on that as this was before agreement termination. I did not go into further details on this as the advisor seemed confused anyway. I was happy to get away with that APR that I stupidly signed up for, but yesterday I have received a statement for the account and closing balance shows as £199.47-.

Would that suggest I am due for a refund? I have cancelled my DD with them and have not received any cheque to date. As I am typing this new thread, I am waiting to speak with an advisor (42min...)

Nearlyold

It looks as if the settlement figure did not include the payment due on 25/06. The Settlement quote usually tells you the date of the last payment taken into account in when calculating the settlement figure which I would guess was the one made on 25/05 if you asked for a settlement quote on 08/06. You should be receiving £199.07 back from Skoda - just phone them and ask. If you called Skoda on 01/07 it's possible the 25/06 payment was not showing on their system at the time, or if you called them beforehand the advisor may have been confused by you asking for a refund for a payment you hadn't made yet.