Leeds Ford
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Ford Options
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1) Traditional Finance
2) Higher costs, longer term
3) Finance not linked to desired length of ownership )
4) Ford Options is linked
5) Minimum Guaranteed Future Value (MGFV)
6) Easier to change your car
7) 3 options at the end of the agreement
8) Finance Example
Offers:
Click here to see how FordOptions can help you finance your new Ford!
Traditional Finance
Traditionally when customers buy a car they put down a deposit.
The size of the deposit determines the balance to be financed.
2. Higher costs, longer term
Today, people are buying better specification cars and tend to put down smaller deposits.
This often leads to the balance being paid over a longer term.
3. Finance not linked to desired length of ownership
Many customers would like to change their cars on a regular basis, often before their original finance agreement comes to an end.
In some cases these customers find they still owe more than their car is worth.
This is because their finance agreement is not linked to when they want to change their car.
4. Ford Options is linked
FordOptions works differently as it is based upon when you want to change the car.
You place your desired deposit in just the same way as traditional financing.
5. Minimum Guaranteed Future Value (MGFV)
Ford also deduct a Minimum Guaranteed Future Value protecting you from any unexpected changes in used car values.
This MGFV is based upon your desired term and mileage.
6. Easier to change your car
This balance can then be taken over a shorter term, making it easier to change your car when you want to.
Shorter term also leads to reduced risk of major service and repair bills.
7. 3 options at the end of the agreement
At the end of the agreement when you want to change your car, you have 3 options based on the Minimum Guaranteed Future Value that Ford deducted at the beginning:
Choose a new Ford
Part exchange, pay off the MGFV and use any available equity as deposit towards your new Ford
Return the car
If market conditions have changed, avoid any subsequent loss. (Subject to mileage and condition)
Keep the car
Pay or refinance the MGFV
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8. Finance Example
New Ford Fiesta Zetec 3dr Hatchback 1.25 82PS Petrol Manual
 On-the-road price: |
£11,495.00 |
| Mileage (per annum): | 12,000 |
| Cash Deposit: | £1,000.00 |
| Deposit allowance: | £500 |
| Amount of Credit: | £9,995.00 |
| Total charge for credit: | £1,689.44 |
| Purchase Fee | £100 |
| Total amount payable: | £13,194.44 |
| Term (months): | 37 |
| 36 monthly payments: | £204.79 |
| Minimum Guaranteed Future Value (MGFV): | £4,312.00 |
| Rate of Interest (per annum) | 5.6343% |
| APR: | 7.9% |
| Retail only. Subject to availability. Finance is subject to status to over 18s only. Guarantees/Indemnities may be required. Written quotations are available on request: Freepost Ford Credit. To own the vehicle at the end of the agreement you must pay the MGFV plus the purchase fee. Further charges may be made subject to mileage/condition if the vehicle is returned at the end of the finance agreement. Price is based on Manufacturer's Recommended Retail Price. Available only in the UK. All finance agreements are subject to English Law. | |