Jordanch Posted January 12, 2014 Share Posted January 12, 2014 Hi, I'm currently on a Ford Options plan with Ford (obviously). Now my plan still had just over 2 years left with them, but I wanted to know if anybody else who is on an options plan has given their car back early to take out a different one? Despite being on a 3 year plan and just over 2 years remaining. I'm hoping later end of the year or early next year I can give my car in early to take out a different car? (Preferably Fiesta or a Focus ST) has anybody else done this? Quote Link to comment Share on other sites More sharing options...
E5GDM Posted January 12, 2014 Share Posted January 12, 2014 It won't be a problem, I've even had them ring me to change early. Quote Link to comment Share on other sites More sharing options...
666Damian666 Posted January 12, 2014 Share Posted January 12, 2014 Our their finance plans good upto let's say a bank loan ? Quote Link to comment Share on other sites More sharing options...
Jordanch Posted January 12, 2014 Author Share Posted January 12, 2014 I would say I'm satisfied with what I have despite what I pay. The options plan is more of a lease with the opportunity to own the car out right if you wished. Quote Link to comment Share on other sites More sharing options...
CookieM Posted January 12, 2014 Share Posted January 12, 2014 I had a 2 year options plan with a Fiesta zetec starting in Oct 2012 and ordered a Fiesta Zetec S in Nov 2013. Pretty much straight swap (only paying £300) and I'll now be paying £35 a month more Sent from my GT-N7100 using Ford OC mobile app Quote Link to comment Share on other sites More sharing options...
Jordanch Posted January 12, 2014 Author Share Posted January 12, 2014 I take it the £300 was just a fee? I love the ZS I have but I just really want the Focus ST Quote Link to comment Share on other sites More sharing options...
CookieM Posted January 12, 2014 Share Posted January 12, 2014 Yer the trade in value of the car was £300 less than the amount left on the finance so had to pay the difference. Although I'm getting a months payment break when I get the car so that makes up a lot of it. Forgot to mention someone keyed my car and someone else bashed a trolley into the side so this was also deducted from the value Sent from my GT-N7100 using Ford OC mobile app Quote Link to comment Share on other sites More sharing options...
Fiesta1.25 Posted January 13, 2014 Share Posted January 13, 2014 Does the options plan limit you to a certain amount of miles? And give heavy penalties if the car is handed back at the end of three years with....let's say 36,000 miles on the clock, I'm sure I have read somewhere that the plan only allows you to do a measly 6000 miles per year? Quote Link to comment Share on other sites More sharing options...
Jordanch Posted January 13, 2014 Author Share Posted January 13, 2014 Yer the trade in value of the car was £300 less than the amount left on the finance so had to pay the difference. Although I'm getting a months payment break when I get the car so that makes up a lot of it.Forgot to mention someone keyed my car and someone else bashed a trolley into the side so this was also deducted from the valueSent from my GT-N7100 using Ford OC mobile app Sorry if I sound slight dumb but I'm a bit confused with what you had left on finance? How many years did you take the car out for? How much per month? And how early did you give it back? Quote Link to comment Share on other sites More sharing options...
Jordanch Posted January 13, 2014 Author Share Posted January 13, 2014 Does the options plan limit you to a certain amount of miles? And give heavy penalties if the car is handed back at the end of three years with....let's say 36,000 miles on the clock, I'm sure I have read somewhere that the plan only allows you to do a measly 6000 miles per year? The options plan I find is preferable for myself, yes you're limited on the miles but you get a choice of how many miles you'd reckon you would do in a year, of course the higher mileage the more it costs. The lowest is 6000, but it can go well above 12000. I opted for 9000 as I need to drive to work 5 times a week, last year in my first year of driving I had a 6000 limit due to a black box and found I need more than 6000, and I'm finding with 9000 is just right, and I'll probably only use 8000. There's no penalties for going over the mileage you just have to pay a certain amount for each mile you go over by. E.G: Your limit is 12k but you end up doing 13k, so you're charged around 3p per mile and you're a 1000 over so what's that.. £30? Options is good if you don't want to own the car outright. It has it's Pro's and Con's, you're spending money per month to own nothing outright so it can be money lost? Being 18 I'm not entirely fussed right now. But you do have the option to own it outright if you wished, once your 3 years is up you can either give it back, take out another, pay of a balloon payment, or take the same car back out on finance until the cars been paid off. More then likely it'll be my next car I'll decide to own outright. Quote Link to comment Share on other sites More sharing options...
CookieM Posted January 13, 2014 Share Posted January 13, 2014 Sorry if I sound slight dumb but I'm a bit confused with what you had left on finance? How many years did you take the car out for? How much per month? And how early did you give it back? I took it out in Oct 2012 for 2 years and on 9000 miles and in November 2013 decided to trade it in for a new one. Am paying £180 a month atm (I didn't have any deposit to put down). The damage to my car meant that the trade in value of the car was £300 less then what I owed so had to pay the difference up front. Will be paying £215 a month for the new one. Sent from my GT-N7100 using Ford OC mobile app Quote Link to comment Share on other sites More sharing options...
iNath Posted January 13, 2014 Share Posted January 13, 2014 Does the options plan limit you to a certain amount of miles? And give heavy penalties if the car is handed back at the end of three years with....let's say 36,000 miles on the clock, I'm sure I have read somewhere that the plan only allows you to do a measly 6000 miles per year? Only if you hand the car back and walk away will you be charged the penalty. If you're part-exing it or buying it off Ford it won't be too much of an issue (as long as you're not in negative equity otherwise you'd need to pay that off) Quote Link to comment Share on other sites More sharing options...
JackieR Posted January 13, 2014 Share Posted January 13, 2014 It's fine to change early. They phoned me up when I still had 6 months to go on my 3 year Options plan. I asked why, and he said it was because in the last 6 months the car will depreciate more and i'll get less at the end of it for my car. Yeah, right !!! To me, that's a cop out and I think it was either to get more 63 Reg sales or the fact that with the guaranteed end value they would be owe me money at the end of it and not me owe them. Not sure if I said that right, but ultimately I went up for "the chat" with no intention of changing, but came out 45 minutes later having ordered a 63 reg Fiesta 1.0 Ecoboost !!! Must say tho, I don't regret it one little bit as I LOVE my new car. :D Quote Link to comment Share on other sites More sharing options...
Jordanch Posted January 13, 2014 Author Share Posted January 13, 2014 Well it seems I'm sold. By the end of the year I'm hoping to upgrade my ZS 125ps to a Fiesta ST then! Quote Link to comment Share on other sites More sharing options...
CookieM Posted January 13, 2014 Share Posted January 13, 2014 Well it seems I'm sold. By the end of the year I'm hoping to upgrade my ZS 125ps to a Fiesta ST then! Can't hurt to ring them up now and find out. You may well be able to hand the car back to cover the rest of the finance. Then you'd be free to take out a new contract for an ST :) Sent from my GT-N7100 using Ford OC mobile app Quote Link to comment Share on other sites More sharing options...
Jordanch Posted January 13, 2014 Author Share Posted January 13, 2014 Cookie as much as I'd love to go down to my local ford dealer it isn't possible right now. Being 18 and having a claim the insurance quotes I'm currently getting are ridiculous. So I have to wait until I get my NCB, plus I'll be 19. I'm happy to pay a quote of 2k for the ST but I'm not getting that at the moment! :( Quote Link to comment Share on other sites More sharing options...
CookieM Posted January 13, 2014 Share Posted January 13, 2014 Ah I see. You added your parents as named drivers? This brings mine down a lot. I'm 22 with 1 ncb and a quote for me on an ST was only £450. But unfortunately ford wanted too much a month for me to have one. Probably trade my ZS in next year for one though :) Sent from my GT-N7100 using Ford OC mobile app Quote Link to comment Share on other sites More sharing options...
Jordanch Posted January 13, 2014 Author Share Posted January 13, 2014 Yeah I have my parent as a named driver, it made a difference but because of my age it's frustrating. How much was the ST per month? Quote Link to comment Share on other sites More sharing options...
CookieM Posted January 13, 2014 Share Posted January 13, 2014 they wanted about £250 a month for ST on a 2 year options plan, 9000 miles per year and my ford privilage discount of £1700 (dad worked for ford for 17 years). With that along with the insurance (about £40) a month and a 30 mile round trip to work every day (about £150) a month, it worked out more than i wanted to pay. It's just a shame i have no money to put down as a deposit :( Quote Link to comment Share on other sites More sharing options...
Mick78 Posted January 13, 2014 Share Posted January 13, 2014 Jordanch, I'm looking to do the same as yourself Got a Fiesta Zetec Ecoboost last January on three year options, looking to it change it this month for a five door instead of three Was down at the dealers last week and the salesguy said if i was looking to change it this month there would be no problem changing it but the repayments would be bigger on the new car to make up the price difference on the car im changing Deal they put down was £277 for the five door Fiesta Zetec Ecoboost, to much for what it is. They changed this to a Focus Zetec Ecoboost for £260 Not sure what to do stick with what i have or go with the Focus, tried to get the repayments lower but they say £260 is the best they can do Quote Link to comment Share on other sites More sharing options...
Jordanch Posted January 13, 2014 Author Share Posted January 13, 2014 Jordanch, I'm looking to do the same as yourself Got a Fiesta Zetec Ecoboost last January on three year options, looking to it change it this month for a five door instead of three Was down at the dealers last week and the salesguy said if i was looking to change it this month there would be no problem changing it but the repayments would be bigger on the new car to make up the price difference on the car im changing Deal they put down was £277 for the five door Fiesta Zetec Ecoboost, to much for what it is. They changed this to a Focus Zetec Ecoboost for £260 Not sure what to do stick with what i have or go with the Focus, tried to get the repayments lower but they say £260 is the best they can do What car do you currently have as in Zetec.. Titanium? I'm hoping that if that's the case for me hopefully mine won't be as much difference, having a Ecoboost ZS with all the packages such as sensors, 17" alloys, city pack etc my car is worth near the same as the ST oh plus I pay £250 a month as it is! I would go to a dealer now but I'm not looking to change just yet so I'd see no point.. I'm happy to pay £250 a month on an ST, any more is ludicrous money. I regret getting my ecoboost so early! Quote Link to comment Share on other sites More sharing options...
Mick78 Posted January 14, 2014 Share Posted January 14, 2014 Jordanch I currently have a Fiesta Zetec Ecoboost 100ps only option is the SYNC system Focus I'm looking at is a new Zetec with the same engine and with 17inch alloys and privacy rear windows Quote Link to comment Share on other sites More sharing options...
Jordanch Posted January 14, 2014 Author Share Posted January 14, 2014 Sorry Mick, I didn't pay much attention to your previous post, I can see now you have a Zetec and looking to upgrade to the Focus Zetec, personally myself If I was in your circumstance I would go for the Focus, it's a lot more spacious than the Fiesta, although I'm sure the Fiesta is more fun to drive, I guess it's preference end of the day. I'm trying to figure out if I'm in negative equity myself with my car. I've tried a few estimators to give me an indication but they haven't been great help. They don't take into consideration extra packages, just a basic car. I guess to maximise the possibility of getting the ST relatively cheap I'll have to keep the car at a low mileage, being a 62 plate with 7k on the clock isn't bad either I would have thought. I may even increase my payments if I have too to help me reduce the gap of negative equity. Quote Link to comment Share on other sites More sharing options...
Jordanch Posted January 16, 2014 Author Share Posted January 16, 2014 I'd like to know if anybody has done this at all? By the time I go into Ford to enquire I would have had the car around a year, but I'm worried having it for such a short period of time especially a year 3 plan I won't be able to do this.. Has anybody or do you know anybody who took their car early on their plan? Quote Link to comment Share on other sites More sharing options...
Ru4hie Posted January 16, 2014 Share Posted January 16, 2014 Took my titanium back after a year to get the ST, was in negative equity due to having had the keyless entry fitted to the titanium. Paying 45 pounds a month more for the ST have a look on www.parkers.co.uk/cars/prices/ to get an idea of what yours is worth atm. A new car can lose almost half its value by the end of 1 year though. Only way you will no for sure is go see ford! Quote Link to comment Share on other sites More sharing options...
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