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Hello,* I am in need of some advice please.
I have a vehicle on PCP with Ford Credit and have had the vehicle nearly 3 years in September with the optional balloon payment to be paid in September.* I do not wish to keep the vehicle at the end of the contact due to a change in circumstances.* However, I did not know about VCT and after looking into it I decided to proceed with this course of action.
I looked at the total amount payable and did my calculations as to 50% of the total amount payable being paid for the VCT to apply as per stated in the contact.* *I paid a deposit which is calculated into the total amount payable.* My monthly payments are made on the 2nd of each month and my calculations of the total of monthly payments made plus the deposit took me well over the 50% mark.*
When I phoned Ford Credit, they were very unhelpful and very evasive said I had not paid 50% of the total amount payable and that I had to pay in my monthly payments 50% of the total price payable.* I said that is unreasonable and underhanded and it doesn't state in the contact 50% to be paid in monthly payments only and it states 50% to be paid back n total as per contract.* *My deposit had been calculated into the total price and interest, fees etc, to make a figure of total amount payable and I questioned why* i should* have to pay 50% of my deposit again??* Again they would not answer my question and said that refer to the contract.* They were really unhelpful and unreasonable and clueless and could not give me a breakdown of what I had paid in total, it was me who had done all the work and was giving them the calculations, but I stood my ground.* After a lengthily conversation of getting nowhere, I said I am not paying a penny more to them as I had paid well over 50% and I cancelled my Direct Debit and sent them an email to confirm VCT with the breakdown of my deposit and monthly payments calculations to take me over the 50% mark.* This has now been accepted.
The car is being collected tomorrow, and is in very good condition, the normal wear and tear and well below the mileage set in my contract.* I have received a letter from Ford Credit yesterday charging me hire charges of £9.68 per day,for each day from the last payment on February 2nd to 12th February when I confirmed the VCT. - over £100.* Can they do this?* I am not on a hire purchase agreement. I have read other posts on this site and there is no mention of anybody being charged hire charges from the Finance Company.
I think I am going to have a rocky ride with Ford Credit and think they will become even more difficult after the vehicle has been returned in trying to charge me for anything they can, to get more money out of me.* * * *
Never again will I enter into a PCP.*
Thank you in advance
*
I have a vehicle on PCP with Ford Credit and have had the vehicle nearly 3 years in September with the optional balloon payment to be paid in September.* I do not wish to keep the vehicle at the end of the contact due to a change in circumstances.* However, I did not know about VCT and after looking into it I decided to proceed with this course of action.
I looked at the total amount payable and did my calculations as to 50% of the total amount payable being paid for the VCT to apply as per stated in the contact.* *I paid a deposit which is calculated into the total amount payable.* My monthly payments are made on the 2nd of each month and my calculations of the total of monthly payments made plus the deposit took me well over the 50% mark.*
When I phoned Ford Credit, they were very unhelpful and very evasive said I had not paid 50% of the total amount payable and that I had to pay in my monthly payments 50% of the total price payable.* I said that is unreasonable and underhanded and it doesn't state in the contact 50% to be paid in monthly payments only and it states 50% to be paid back n total as per contract.* *My deposit had been calculated into the total price and interest, fees etc, to make a figure of total amount payable and I questioned why* i should* have to pay 50% of my deposit again??* Again they would not answer my question and said that refer to the contract.* They were really unhelpful and unreasonable and clueless and could not give me a breakdown of what I had paid in total, it was me who had done all the work and was giving them the calculations, but I stood my ground.* After a lengthily conversation of getting nowhere, I said I am not paying a penny more to them as I had paid well over 50% and I cancelled my Direct Debit and sent them an email to confirm VCT with the breakdown of my deposit and monthly payments calculations to take me over the 50% mark.* This has now been accepted.
The car is being collected tomorrow, and is in very good condition, the normal wear and tear and well below the mileage set in my contract.* I have received a letter from Ford Credit yesterday charging me hire charges of £9.68 per day,for each day from the last payment on February 2nd to 12th February when I confirmed the VCT. - over £100.* Can they do this?* I am not on a hire purchase agreement. I have read other posts on this site and there is no mention of anybody being charged hire charges from the Finance Company.
I think I am going to have a rocky ride with Ford Credit and think they will become even more difficult after the vehicle has been returned in trying to charge me for anything they can, to get more money out of me.* * * *
Never again will I enter into a PCP.*
Thank you in advance
*
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