Ford Credit help!

lawrie28

Have you rung ford credit and asked them if they will refinance? If I have read correctly you have done this all through the dealer who make money by selling cars, not by refinance. It is highly likely that the dealer has not even spoken to Ford credit about this, and have just told you that they can't refinance the £3k to get you to buy another car.
Ford have a duty to treat customers fairly, and agian if I have read correctly, Ford will lend you £11k for a new car, but not refinance the £3k. Seems unlikely they would do that.

I would get ont the phone and ask them yourselves.

I would also contact the dealer and find out who the £11k was with, if it was not with Ford. Nothing stopping you approaching them and seeing if they could do the £3k of finance.

Also, can you get finance at all. You have talked about all this in your partners name - your not married?
There would be nothing stopping you buying the car from her and taking finance in your name, or you coudl get a loan to pay it off?

Alas with these option plans, they are put together with the dealers best interests at heart, not the customers.

lawrie28

If the car has a dent, then find a SMART dent repairer - dent devil is a local one to me. Typically for less than £50 they can take out a dent to a panel, depending where it is. May be worth doing so someone doesn't beat you down on price if you do sell.

sparksy30

Apples2 wrote: »

And have you actually been to Court to argue your poverty?? Thought not. You've just decided they will play by your rules.

we are not in poverty as she has found a new job but can't afford the 3k in 1 hit, but it's too late as the damage has been done to the credit.
As for court we would have to wait for ford to take us to court, but still people are missing the point that they accepted us for credit for a second hand car and refused us for refinance on the balloon payment, so obviously we werent a risk to them

sparksy30

lawrie28 wrote: »

If the car has a dent, then find a SMART dent repairer - dent devil is a local one to me. Typically for less than £50 they can take out a dent to a panel, depending where it is. May be worth doing so someone doesn't beat you down on price if you do sell.

had it quoted at a garage when I had an insurance repair carried out and asked if i could do it myself he said that the panel was double skinned so wouldn't be that easy to repair it would cost 200 bear in mind it's the only quote i have got for it

Clive_Woody

sparksy30 wrote: »

we are not in poverty as she has found a new job but can't afford the 3k in 1 hit but it's too late as the damage has been done to the credit as for court we would have to wait for ford to take us to court but still people are missing the point that they accepted us for credit for a second hand car and refused us for refinance on the balloon payment so obviously we werent a risk to them

I would guess bottom line is they are not interested in £3k financed over x number of years and would prefer to have the car back and sell it second hand, presumably also on a finance deal. They will by the sound of it consider selling you a second hand car at a higher price on finance.

As somebody mentioned try phoning Ford Credit yourself and check the dealer is telling you the full story.

sparksy30

lawrie28 wrote: »

Have you rung ford credit and asked them if they will refinance? If I have read correctly you have done this all through the dealer who make money by selling cars, not by refinance. It is highly likely that the dealer has not even spoken to Ford credit about this, and have just told you that they can't refinance the £3k to get you to buy another car.
Ford have a duty to treat customers fairly, and agian if I have read correctly, Ford will lend you £11k for a new car, but not refinance the £3k. Seems unlikely they would do that.

I would get ont the phone and ask them yourselves.

I would also contact the dealer and find out who the £11k was with, if it was not with Ford. Nothing stopping you approaching them and seeing if they could do the £3k of finance.

Also, can you get finance at all. You have talked about all this in your partners name - your not married?
There would be nothing stopping you buying the car from her and taking finance in your name, or you coudl get a loan to pay it off?

Alas with these option plans, they are put together with the dealers best interests at heart, not the customers.

thank you, finally someone who has understood the point i was trying to make my credit was shot to bits way before we met i made some bad descisions and am paying for it.
The 11k was with ford credit as this is what the dealer said to us when we spoke to them, they originally wanted to use santander but we said it wouldn't pass a credit check, so they said they would contact ford credit to see if they could finance the 11k, and when we said no to that as we were trying to keep to our budget and would prefer to refinance the 3k they said her experian report wouldn't allow them to accept her

sparksy30

Clive_Woody wrote: »

I would guess bottom line is they are not interested in £3k financed over x number of years and would prefer to have the car back and sell it second hand, presumably also on a finance deal. They will by the sound of it consider selling you a second hand car at a higher price on finance.

As somebody mentioned try phoning Ford Credit yourself and check the dealer is telling you the full story.

we've been in phone contact with ford credit as well as letters and all they are saying it is down to the experian report, would writing to the fiancial ombudsman make a blind bit of difference saying we have been treated unfairly by ford credit

lawrie28

sparksy30 wrote: »

had it quoted at a garage when I had an insurance repair carried out and asked if i could do it myself he said that the panel was double skinned so wouldn't be that easy to repair it would cost 200 bear in mind it's the only quote i have got for it

A bodyshop would buy a new panel and spray it, which is the expensive bit, try contatcing a smarty repairer.

lawrie28

sparksy30 wrote: »

thank you, finally someone who has understood the point i was trying to make my credit is shot to bits way before we met i made some bad descisions and am paying for it the 11k was with ford credit as this is what the dealer said to us when we spoke to them they originally wanted to use santander but we said it wouldn't pass a credit check so they said they would contact ford credit to see if they could finance the 11k and when we said no as we were trying to keep to our budget and wanted to refinance the 3k they her experian report wouldn't allow them to accept her

Ring the dealer, tell them you are reconsidering the £11k and go and see them. Get a copy of the paperwrok for the £11k, don't sign anything, but take a copy with you to read through.

See who this is with, ring them and ask them to use this successful credit application to refinnance the £3k,

It may well be that the lower application for £3k wa declined on the grounds that you have been approved for £11k, but they would not want you to have both, leaving them exposed for £14k.

If both are with Ford credit, then ethically they should refinance the deal if they are prepared to lend you £11k.

sparksy30

lawrie28 wrote: »

Ring the dealer, tell them you are reconsidering the £11k and go and see them. Get a copy of the paperwrok for the £11k, don't sign anything, but take a copy with you to read through.

See who this is with, ring them and ask them to use this successful credit application to refinnance the £3k,

It may well be that the lower application for £3k wa declined on the grounds that you have been approved for £11k, but they would not want you to have both, leaving them exposed for £14k.

If both are with Ford credit, then ethically they should refinance the deal if they are prepared to lend you £11k.

i thought that the 11k deal would have been off the table as we declined to accept it, or am i thinking wrong as we were originally going to do this,
thanks once again