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Hi,
I wonder if anyone can help. I am 1 year into a 3 year contract with ford under the ford options agreement.
I am moving to Australia in August and therefore will no longer need the car. I wish to VT the vehicle which I understand I am liable for 50% of the costs.
My question is do I have to pay back 50% of the value of the car or 50% of the contract? Only at the end of the 3 years i have the option to either:
- Trade in my car for another
- Walk away from the contract and return the car
- Pay a lump sum or continue to finance the vehicle for another year and then own it.
I asked Ford how much% I had paid back after 1 year and they said 23% which doesnt seem to add up, my understanding is after 1 1/2 years i would have paid back 50%.
Apologies if i am missing something but completely new to this any help would be appreciated.
Thanks.
I wonder if anyone can help. I am 1 year into a 3 year contract with ford under the ford options agreement.
I am moving to Australia in August and therefore will no longer need the car. I wish to VT the vehicle which I understand I am liable for 50% of the costs.
My question is do I have to pay back 50% of the value of the car or 50% of the contract? Only at the end of the 3 years i have the option to either:
- Trade in my car for another
- Walk away from the contract and return the car
- Pay a lump sum or continue to finance the vehicle for another year and then own it.
I asked Ford how much% I had paid back after 1 year and they said 23% which doesnt seem to add up, my understanding is after 1 1/2 years i would have paid back 50%.
Apologies if i am missing something but completely new to this any help would be appreciated.
Thanks.
