Must zakat be paid on money from last year if the zakat payer had a loan to pay for a car, and the loan was repaid in the current year?

If debt consumes or diminishes the Zakatable amount, then Zakat is not obligatory according to the majority of scholars. However, according to Ash-Shafi‘i in his new opinion, and Ibn Baz, and Ibn ‘Uthaymin, debt is not deducted from the Zakat. The Maliki madhhab holds that if there are surplus trade goods beyond one's needs that can be used to offset the debt, then Zakat becomes obligatory; otherwise, it does not.