Hi there,

I took out a 2 year Ford options deal back in October 2013 for a Focus and have been paying the monthly charge ever since. However, due to a sudden relocation of work I now have been offered a heavily discounted company car which is much cheaper than what I am paying now.

I have looked into my options and see that I can hand my focus back to ford. With there only being 4 months left on my deal my settlement figure is 10,500 (I believe this is 4 months of payments plus the GMFV).

My question is, can I hand my car back to my dealer and use the value of the car to pay off this figure? Moreover, since I had been contracted for 24,000 miles over the lease but I've only done 13,500, would I have a bit of equity left over to take away? From what I can see my car is worth about £12,500 with its mileage and age.

Thanks for any help!

You can see if the dealer will buy the car, settle the finance and give you the difference.

But you can't legally sell the car yourself as it is not entirely yours.

Thanks!

Yeah so you are the mercy of the dealer. I know it's hard to say but theoetically could my dealer be difficult and just decide to value the car lower in order to avoid giving me exess equity back?

The general market value for my car with its mileage appears to be between 12 and 13k so I would be hoping for a bit of money back.

In theory anyone could help you pay it off, but generally only main dealers will do it.

Your dealer might be awkward, but you could get any main dealer to help pay it off, if they agree to, so you can just go somewhere else if they don't give you a good price.

You could sell it privately once you have a settlement figure. You could come to an arrangement with the buyer for it to be settled as part of the transaction and then you keep the difference.

Dealer should give you book price maybe a little less and settle finance for you. Any extra is yours. Dealer will then sell on with usual mark up

Sent from my iPhone using Ford OC mobile app