Ford Options - Termination : your rights

[Ciscoda]

I am 12 months into a 24 month deal with Ford options. I have started a new role with the option of a company car but I am unsure whether I can terminate the agreement early without a financial penalty.

Within the termination clause it states that they will be entitled to the return of the goods and to half the amount payable under this agreement that sum being over £11000. I have paid 12 instalments amounting to over £3500, what will I be expected to pay to voluntary terminate the agreement...?

[R0b]

Re: Ford Options - Termination : your rights

I am 12 months into a 24 month deal with Ford options. I have started a new role with the option of a company car but I am unsure whether I can terminate the agreement early without a financial penalty.

Within the termination clause it states that they will be entitled to the return of the goods and to half the amount payable under this agreement that sum being over £11000. I have paid 12 instalments amounting to over £3500, what will I be expected to pay to voluntary terminate the agreement...?

Hello, yes you are expected to pay the outstanding amount that makes up the 50% of the total amount payable. If you've paid around £3,500 then you have another £7,000 or so to pay off. Perhaps it may be wiser to continue using your current financed car and VT closer to the time you.

There may be another option but that involves going to court and there is no guarantee so unless you are 100% intending to do this I think the option above might be the best.