Ford options - simple approach

LittleJohnny

Hi there, 

I've read other threads about Ford Options and I realise that people have split opinions whether it's a good business or a scam. However, I found it confusing since everyone is going into great detail. My question is simple:

If I buy a £25 000 fiesta and pay in £5000 deposit, the online calculator says I'll have monthly rates of £310 over 24 months and £12 000 to pay if I would like to buy it at the very end of the contract. So it still means that I'll pay the deposit + monthly rates (which is roughly £13 000) and have an option of paying £12 000 to actually own the car, right? Is there any other hidden costs not counting the credit charge and all the minor costs I've missed on purpose to make the question more clear?

Cheers,
LittleJohnny 

[Deleted User]

LittleJohnny said:

Hi there, 

I've read other threads about Ford Options and I realise that people have split opinions whether it's a good business or a scam. 

Well, obviously it's not a scam, which only leaves good business. 

Whether it represents good value depends on you. Personally I prefer to buy vehicles outright, but that doesn't work for everyone.

LittleJohnny

Thanks zx81, but the question still stands. Do you pay a similar amount of money when choosing ford options?

molerat

I think I get the drift of your question.

Ford Options is simply a credit scheme giving you "options" at the end - keep the car for a large payment, hand back the car and have nothing or the "cheapest" option of trade it in for another one.  It is certainly good business  for Ford as it pretty much traps you in to the cheapest up front option which is buying renting a new car from them every 2 to 4 years.  They may well be offering 0% finance but the sting is in the final payment. The simple way is to buy a car you can actually afford and not pay the silly prices they charge for a new one.  You will be paying £25K for a £25K list price car, I bought a £31K list price Ford pre reg 2 weeks old with delivery mileage for £20.5K cash.  I am sure similar price reductions are available for other models.

[Deleted User]

You'll pay the amount outlined in the agreement, but not necessarily the same as another purchase method.

There are no hidden costs beyond what's in the terms.

LittleJohnny

Okay thanks a lot. That explains everything!