Ford options

Wooser1959

About 18 months ago my wife bought a new fiesta using Ford options .Her company paid her a car allowance to cover this, the idea was we would exchange every 2 years .Company policy has changed and my wife now has a company car .We read on the ford finance agreement that once we had paid a certain amount we could hand the car back and walk away .Having paid the amount required we contacted Ford to arrange taking the car back .they have advised against this saying we would be given a bad credit rating for doing so and so should sell the car and then pay them the outstanding balance .Seems very extreme and how can we sell a car with outstanding finance .We have always been led to believe that we could just hand it back and walk away . Or is it just a bad credit rating with Ford .We have never missed a payment ,and have always had good credit.
Steve

NeverAgain_2

It sounds like a hire purchase agreement and you are trying to invoke your legal right to hand the car back after half the payments have been made.

I have heard of this being marked as a 'default' on the buyer's credit record, but I agree it seems wrong to do that when you are up to date with the payments.