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Ford options...again
manipulated
Posts: 8 Forumite
in Motoring
Hi again,
I posted before about renewing ford options, with a car about 1 year old and my dealer said I could renew after 1 year and there would be no penalty.
I had some replies which were very helpful and stated that what most likely will happen is that, the dealer will just add the "additional settlement" figure, onto the overall figure of when I trade it in for a new car.
Essentially moving the extra 3k owed from my current car over to the new deal, so instead of it been 13k payable, itd be 16k
Now I spoke to my dealer in person about renewing my car for another model, I specifically asked what about the additional money that I need to pay. Since I owe about 11k on the car to settle and the car is only worth about9-10k.
They said they would completely settle that figure, buy the car off me, settle the figure and then get me to take a brand new credit/options deal, they printed me the figures off and the "total balance payable" seems to be correct, about 14k for a 13k car etc. So that looks good right? (I guess they are happy to settle the figure for me as they will receive a large bonus from Ford for getting a "New" Buyer)
Now im looking to get out of Ford Options altogether as I no longer require a new car and a cheap run around is fine.
My question is, Can I do the deal with my dealer for them to Buy my car, settle my outstanding with Ford Credit and for me to be on a NEW ford options deal. Great if thats what I wanted, but I want to be out of ford now...so... I know that you have a "cooling off" period on new agreements. Since it is a completely new agreement from what they said/showed me, I should be able to cancel this within 7 days and then not have to pay anything (consumer act and the 7 day cooling period) and the additional money from my previous car should not come into the equation as my dealer seperately settled this, so they would not be able to chase me for this.
Is this correct? or is it illegal, not possible etc
Sorry its a very large post I just wanted to make sure I got all the relevant information in there!
Thanks very much
I posted before about renewing ford options, with a car about 1 year old and my dealer said I could renew after 1 year and there would be no penalty.
I had some replies which were very helpful and stated that what most likely will happen is that, the dealer will just add the "additional settlement" figure, onto the overall figure of when I trade it in for a new car.
Essentially moving the extra 3k owed from my current car over to the new deal, so instead of it been 13k payable, itd be 16k
Now I spoke to my dealer in person about renewing my car for another model, I specifically asked what about the additional money that I need to pay. Since I owe about 11k on the car to settle and the car is only worth about9-10k.
They said they would completely settle that figure, buy the car off me, settle the figure and then get me to take a brand new credit/options deal, they printed me the figures off and the "total balance payable" seems to be correct, about 14k for a 13k car etc. So that looks good right? (I guess they are happy to settle the figure for me as they will receive a large bonus from Ford for getting a "New" Buyer)
Now im looking to get out of Ford Options altogether as I no longer require a new car and a cheap run around is fine.
My question is, Can I do the deal with my dealer for them to Buy my car, settle my outstanding with Ford Credit and for me to be on a NEW ford options deal. Great if thats what I wanted, but I want to be out of ford now...so... I know that you have a "cooling off" period on new agreements. Since it is a completely new agreement from what they said/showed me, I should be able to cancel this within 7 days and then not have to pay anything (consumer act and the 7 day cooling period) and the additional money from my previous car should not come into the equation as my dealer seperately settled this, so they would not be able to chase me for this.
Is this correct? or is it illegal, not possible etc
Sorry its a very large post I just wanted to make sure I got all the relevant information in there!
Thanks very much
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