Car finance problem

Thatsthespirit

£9000 final payment!?

IamNotAllowedToUseMyName

Long story short the contract is up, i still owe a couple of payments until the contract ends and then i need to return the car.

I was just checking the contradiction between the "contract is up" and "owing a couple of payments". Given the desire to hang onto a car, that doesn't belong to the OP, I was just checking that the OP wasn't thinking that because they hadn't made all the payments that they viewed it as still being under contract - especially as they already seem to have discussions about bailiffs - how would you get into that discussion if the contract was still running its course for another couple of months?

ford credit have advised me it will be passed to a debt collection agency soon if it isnt paid or returned.

Other than giving the car back and them sending it to a debt collector for the remaining money owed

It just sounded to me like the OP was thinking that as they were behind on the payments they could keep the car as the contract had not been fully paid up. Reading the bit about the bailiffs makes me think that he is in month 25 having paid 22 months and thinks magically that the car doesn't need to be returned until he has paid 24 months. The contract will be explicit on the rules for termination and what happens if the rules are not met.

Also, we haven't got into the inspection bit where there are termination charges - if the OP hasn't had the money to afford the car, have they had the money to keep the car in a reasonably satisfactory condition?

Obviously this is the Internet and people don't write precisely, so I wanted to check what was actually the situation rather than make an assumption. (The usual way to write this would have been "my contract is up in a couple of months"). Clearly the OP is under stress and I wanted to be sure that they had clearly explained their actual situation.

lopsyfa

Or you could ask Ford finance if they will let you finance the balloon payment and pay monthly instead of paying it at once. It is usually better for the finance company because you already have the car and it saves them some money/time selling the car on.

pinkshoes

So what was your original plan once the two years were up?
(You have had two years to plan this...)

Just return the car then buy a £200 car with a few months MOT remaining. Problem solved!

IamNotAllowedToUseMyName

pinkshoes wrote: »

So what was your original plan once the two years were up?
(You have had two years to plan this...)

Just return the car then buy a £200 car with a few months MOT remaining. Problem solved!

Yes, I suspect the original plan was "I'll worry about that in 2 years" combined with the starry eyed "I'll have £9k trade in against a new car that nice salesman told me about" before their credit rating gave up the ghost.

wgl2014

k3lvc wrote: »

I read it this way too - brave move from the OP which could backfire horribly - interested whether this could be a 'theft' and result in criminal conviction ?

Unlikely to be theft unless OP sells the car on or otherwise disposed of it, even then more likely to be a fraud.

Not returning the car on time after having it on contract for a couple of years would be a civil matter hence bailiffes etc

AnotherJoe

OP if you are going to steal a car, at least do it some way away where it’s not obvious who has done it.

xhurlywoo

God help anyone who comes on these groups! It was a question! One that has been answered and put clearly for me in other posts. As for other peoples snide comments, my life was alot differant 2 years ago when i took out the finance for the car, if id of known i would be in this situation i wouldnt of bought the car!! People shouldnt be so quick to judge peoples choices.

Thanks

debtdebt

Not sure what your problem is OP? What the other posters have told you is the truth and factually accurate even though it's clearly not easy to accept by you.

When you signed up to the finance agreement, you must have known that there were two choices at the end of the term. Either hand the car back or pay them £9000 to keep the car. If you can't afford to pay the £9000, hand the car back. There isn't any other option.

The fact that you can't afford to or don't have the credit to finance another car isn't Ford's problem.

bigadaj

xhurlywoo wrote: »

God help anyone who comes on these groups! It was a question! One that has been answered and put clearly for me in other posts. As for other peoples snide comments, my life was alot differant 2 years ago when i took out the finance for the car, if id of known i would be in this situation i wouldnt of bought the car!! People shouldnt be so quick to judge peoples choices.

Thanks

So are you currently beyond the end of the agreement?

It's a fairly simple question.

Simply hand the car back and buy an old car for a few hundred quid that will last you a few months, then look at more options when your finances are on a more even keel.