VW auctioned off my car in 2017...should they have paid me the surplus money?

phillw

Bossofmoney said:

Withdrew the money then closed the account. 

If you closed the bank account that the refund was going to then it may be sitting in a holding account at the bank.
VW need to prove it was paid. Make a complaint that it wasn't paid, give them 28 days to resolve the complaint and if they don't then take it to the financial ombudsman. If they say they paid it, then ask them for proof of where it was sent, when and any reference and confirmation id's they have. Then ask the bank it was sent to trace the transaction & provide a statement showing where it went.

bengalknights

If its was sent to the old bank account, either it would be returned to VWFS as account no longer valid or be in a suspense account waiting to be claimed.

bris

Someone in so much debt just forgets they are meant to have 3k? Hmmmm

Bossofmoney

bris said:

Someone in so much debt just forgets they are meant to have 3k? Hmmmm

Didn’t know the funds were meant to be returned, thought once it was handed back that was it. 

Sound very bitter. Hmmm

MinuteNoodles

Surely if the car was repossessed because it wasn't paid for then as the loan was secured on the car and it was therefore property of the finance company until it was paid for in full they're entitled to sell it and to keep any excess?

Bossofmoney

MinuteNoodles said:

Surely if the car was repossessed because it wasn't paid for then as the loan was secured on the car and it was therefore property of the finance company until it was paid for in full they're entitled to sell it and to keep any excess?

It wasn’t repossessed. It was handed back after half the overall final balance had been paid back. 

Then auctioned off. £4K was left it sold for £7600. Minus costs of picking it up and whatever else left £3k due to me, have this in writing from them. 

Nearlyold

Firstly if you only owed £4,000 on a car worth £7,600 its not clear why would you decide to either Voluntary Terminate or Voluntary Surrender.
Secondly did you Voluntary Terminate or Voluntary Surrender? 

MinuteNoodles

Bossofmoney said:

It wasn’t repossessed. It was handed back after half the overall final balance had been paid back. 

Then auctioned off. £4K was left it sold for £7600. Minus costs of picking it up and whatever else left £3k due to me, have this in writing from them. 

So you gave them it back and therefore it was their vehicle to do with as they pleased. Once you hand it back you have no claims on it, it's no longer yours. Most people would be relieved at having walked away from thousands of debt without any future ramifications however it seems that recently more and more people posting on MSE seem to not be satisfied with getting off with that and seem to think they're entitled to make a few quid too.

Shakin_Steve

I suggest people actually check the legal situation before commenting.

k3lvc

Shakin_Steve said:

I suggest people actually check the legal situation before commenting.

So what's you're view of 'the legal situation' then ?