Jump to content
Do Not Sell My Personal Information


Finance And Returning The Car Back To Ford...


bILLOO
 Share

Recommended Posts

I bought my Fiesta on 50% cash and 50% finance (0% APR and have the balance by the end of 2011). If I wanted to give the car back to Ford earlier for either wanting to downgrade or because I'm not happy with the Fiesta, am I allowed to do this or do I have to clear the finance before I do this? I've looked through the T&C's but they're pretty rubbish too be honest!

Link to comment
Share on other sites


You should be able to hand it back but you wont get anything for it, like ya cant use it as a diposit or anything, the car will be sold on to cover the credit left over.

Whats wrong with the car? :unsure:

Link to comment
Share on other sites

I think that you can get out of an options finance agreement after 10 months if you want to - you need to get a settlement figure from Ford which is what you still owe on the car (remaining payments + gmfv). If you paid 50% cash you shouldn't owe them that much after a year or so, in which case you can sell the car privately and keep the extra cash. Using acquire I'm not sure how it works.

In fact, there are some example settlement figures on the back of your finance agreement.

Are you not happy with the car?

Link to comment
Share on other sites

Once you've paid 50% you can voluntarily terminate the agreement and hand the car back. Although it won't put a 'black mark' on your credit rating there will be a status to show that you have done this. Selling the car and settling the finance would be the better option (my opinion only)

Link to comment
Share on other sites

It seems a few people want to be trading back in their new fiesta. Really think the novelty of a new car must wear off quite quickly. I was warned not to buy a new car but the scrappage thing came a long and i liked the idea of a brand spanking new car and paid cash out right for it minus the £2000 scrap but honestly now although i love my ka part of me wishes Id stuck to my original plan of getting a mini a few years older, oh well... Its only my 2nd car and atleast I've experienced the new car thing, I'll have a bit more sense the next time... B)

Link to comment
Share on other sites


Thanks for your answers!

Yeah, I'm not totally 100% happy with Ford or the Fiesta. It really eats the petrol and I'm easily spending over £100 a month when I use to spend £60. It's a really nice car but it's costing the Earth to run. Another thing is it doesn't always run smoothly, yet Ford cannot find anything wrong with it at all. I should have gone for a 2nd hand one for sure! I just want to take it back and downsize to maybe just a 1.25 Zetec, but as I bought the Zetec-S from new then maybe it would be cost-effective to just keep it until the agreement is over then sell it on.

Link to comment
Share on other sites

I bought my Fiesta on 50% cash and 50% finance (0% APR and have the balance by the end of 2011). If I wanted to give the car back to Ford earlier for either wanting to downgrade or because I'm not happy with the Fiesta, am I allowed to do this or do I have to clear the finance before I do this? I've looked through the T&C's but they're pretty rubbish too be honest!

Lets say the car was 12k,you now owe 6k.

Contact someone like webuyanycar.com and see what they will offer you.

Lets say they offer 9k,they then pay off the 6k you owe and give you the remaining 3k into your bank.

You can then go and get another car without messing with trade ins and finance pay offs.

Dave

Link to comment
Share on other sites

Surely if its drinking Petrol compared to what it used to be like, then there is a fault with the car

Still under warranty

Put your foot down and get Ford to Sort it out

Link to comment
Share on other sites

Take it up with the finance company that there is a fault with your car and ford says theres nothing wrong with it, they will contact ford as its in there interest as its the finance companies car or you could go to ford customer relations as well.

My car has being doing rther good on fuel and has 2.5k on the clock, getting about 37 mpg and about 70 miles out of a tenner.

Link to comment
Share on other sites

I'll get another pair of eyes to look at the car before I call Ford again. Our family mechanic is really good; maybe he'll find the fault. It's fine on petrol but as soon as I had 4 people in the car for the first time a few weeks ago I went from Northampton to Daventry about back (30 miles) and used a quarter of a tank!

Link to comment
Share on other sites

If you think a 1.6 fez is hard on the petrol dont try a v6 alfa :)

Our 1.6tity is possitively frugal compared to my alfa.

Avoid WeStealanycar.

Link to comment
Share on other sites

Lets say the car was 12k,you now owe 6k.

Contact someone like webuyanycar.com and see what they will offer you.

Lets say they offer 9k,they then pay off the 6k you owe and give you the remaining 3k into your bank.

You can then go and get another car without messing with trade ins and finance pay offs.

Dave

Ive changed the name to .We steal any car.12 months old 12000 miles. £7200.00 yes right and they sell on for £10000. The market is flooded with fiestas.

Link to comment
Share on other sites

If you think a 1.6 fez is hard on the petrol dont try a v6 alfa :)

Our 1.6tity is possitively frugal compared to my alfa.

Avoid WeStealanycar.

you want to see how much my dad puts in his jag xkr... manages about 22 mpg!!!

and i kind of struggle to keep up with the cost of petrol, i chuck about 20 quid in and that lasts me around 4-5 days and then 40 quid lasts me around a week and abit, saying i just run to college and rugby mates so on... its hard to keep it going!

Link to comment
Share on other sites

I know some people would rather choke on a stote rather than do this, but what about the derv side of life??

Link to comment
Share on other sites

Ive changed the name to .We steal any car.12 months old 12000 miles. £7200.00 yes right and they sell on for £10000. The market is flooded with fiestas.

Webuyanycar is ok if you want a quick sale. I sold my old car to them 2 weeks ago as I needed to get rid of it ASAP as I was about to get my new Fiesta. They offered me the list price which was the same as the parkers guide price. They had to knock a little off because of a foot long scratch on the side of the drivers door, but I expected that.

The positive was that I had the money in my bank in 2 days and with no hassle of setting up adverts and having dodgey people coming around to my house.

You are not obliged to take their offer so it's worth seeing what they do offer.

Link to comment
Share on other sites


I can see why people use it for the very reason you stated lmclaney, for older cars it's pants, but i think for newer cars it can provide a hassle-free method of selling.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share




×
×
  • Create New...

Forums


News


Membership