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

Shakin_Steve

k3lvc said:

Shakin_Steve said:

I suggest people actually check the legal situation before commenting.

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

No idea. But there's that many different points of view being posted that we're getting nowhere nearer to where the OP stands legally. They say they have an email from VW finance stating that a refund is due and will be paid, yet folk seem to be saying they're not entitled with no reason why.
You're thoughts?

k3lvc

Shakin_Steve said:

k3lvc said:

Shakin_Steve said:

I suggest people actually check the legal situation before commenting.

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

No idea. But there's that many different points of view being posted that we're getting nowhere nearer to where the OP stands legally. They say they have an email from VW finance stating that a refund is due and will be paid, yet folk seem to be saying they're not entitled with no reason why.
You're thoughts?

My thoughts - I’m surprised the OP has any email confirming that VWFS owe them money hence any other discussion is pointless. If they have then I’d be chasing them for it, if not then I can’t see they’ve any rights to the money unless their contract is different from everyone else’s. 

Bossofmoney

VW have been back in touch and issued the refund again to my new account which will take 3-5 days. 

It seems a third party company (who was paid for out of the sale) collected the car, cleaned it up, auctioned it. The final sale income after auction fees came off then paid for their collection and valet services, cleared the balance of £4K with the rest coming back to me. 

It was a HP agreement. This is not how I thought it worked at all but I will take it and that £3k will go towards some of my smaller existing debts. 

Thanks all for the advice even though there was various points of view. 

Shakin_Steve

A satisfactory outcome.

[Deleted User]

This story just doesn't make sense. If the car is worth MORE than what you owe, it makes no sense to VT - you just sell the car, pay off the loan and keep the rest of the money. If you VT a car, as long as you have paid 50% or more off, it's irrelevant what happens to the car after - you don't get a refund and you aren't liable for a shortfall either. 

Bossofmoney

camelot1971 said:

This story just doesn't make sense. If the car is worth MORE than what you owe, it makes no sense to VT - you just sell the car, pay off the loan and keep the rest of the money. If you VT a car, as long as you have paid 50% or more off, it's irrelevant what happens to the car after - you don't get a refund and you aren't liable for a shortfall either. 

VW have obviously made a mistake paying me the difference then but it’s in my account today so I’m not going to complain. 

Bossofmoney

Shakin_Steve said:

A satisfactory outcome.

Indeed. Had a couple PMs off the back of this thread with advice that helped. Happy days since finding MSE, there’s an answer and a bitter response for every question! 

k3lvc

Bossofmoney said:

camelot1971 said:

This story just doesn't make sense. If the car is worth MORE than what you owe, it makes no sense to VT - you just sell the car, pay off the loan and keep the rest of the money. If you VT a car, as long as you have paid 50% or more off, it's irrelevant what happens to the car after - you don't get a refund and you aren't liable for a shortfall either. 

VW have obviously made a mistake paying me the difference then but it’s in my account today so I’m not going to complain. 

Just because the money's in your account doesn't mean that's the end of it. If they have made a mistake and it's picked up/investigated the whole cycle can start again 

Bossofmoney

Oh well good luck to them. 

[Deleted User]

Bossofmoney said:

camelot1971 said:

This story just doesn't make sense. If the car is worth MORE than what you owe, it makes no sense to VT - you just sell the car, pay off the loan and keep the rest of the money. If you VT a car, as long as you have paid 50% or more off, it's irrelevant what happens to the car after - you don't get a refund and you aren't liable for a shortfall either. 

VW have obviously made a mistake paying me the difference then but it’s in my account today so I’m not going to complain. 

It's amazing that these sorts of complaints pay out so quickly at just the right time! I wish I had your "luck" in turning around an issue into a positive outcome in a matter of days. It's almost like a fairy tale!