My Ford options agreement will come to an end in March next year (so still a good few months away) however I am thinking about my options now.

I know I have 3 options, renew my Ford, buy it outright or give it back.

For some reason I just can't grasp what I have to do to go for the renew option! What do I have to pay - the outstanding balance? Or is that used as a 'deposit' on the new car and then you refinance? Can someone explain in layman's terms please?

Thanks

Sarah

Officially the renew option means you hand the car back then start again on the new plan, however most dealers will offer to buy the car, pay the oustanding balance, then the difference is given to you as a deposit against the new one.

So, you could really just keep doing that agreement after agreement - so they keep you as a customer?

Is it good to keep doing it?

Thanks

Sarah

In for the interesting ride on this topic :)

Sent via carrier pigeon using Ford OC

You can keep it going in theory, just effectively leasing the car with the option to keep it at the end.

That's why they give you such good rates as they then have control and knowledge of when the agreement ends so can hammer you with new offers.

Unless you are getting a really good deal, it might be cheaper to consider a lease though as it would be cheaper if you never intend on keeping the car past the PCP term.

Thanks for the advice, it is much appreciated - I now understand!!

Cheers

Sarah