I bought a Ford Focus from Dees in Croydon in 2016, I was very happy with it until I fell pregnant with twins as required a bigger car.
To cut a long story short, I was sold a pre-owned mobility car it had only 18,000 miles on it and at the time I thought it was a good deal.
After a few months, I found that I was actually paying out more for this car than my fiesta. I used to pay £205 For my fiesta it was exempt from tax as it was a 1.1-litre and fuel would cost me about £50 a month. With my focus now, it’s an older car, I’m paying £198 a month on higher purchase, plus tax as it’s a 1.6 and obviously more fuel to fill it.
I went back to Ford to try and get back into a fiesta but I was knocked back saying I couldn’t as I haven’t paid enough for the company to refinance the car. So I’ve now returned to work and I’m on less hours and I’m still left paying all this money for this car. Although I make my payments every month it’s killing me and the finance company will not help me.
I feel like I have been mis-sold this car and felt they just wanted to get rid of the car. I’ve been advised to go back to Ford in February to see what they can do. My thing is they were willing to change the car for my fiesta and it was less than a year. I want out of this car and wish to be put into a cheaper car.
After reading what you have on this forum I’m willing and happy to do a voluntary termination. Please advise me if this is the right thing to do.
Hi Ann. We can’t tell you what “the right thing to do” is for your situation. All we can do is provide information on how finance agreements work and how voluntary terminations work so that you can make an informed decision about what is best for you.
Our car finance advice page has lots of information about various issues regarding HP finance, including voluntary termination.
If you want specific financial advice about how best to manage your situation, you would need to see a financial advisor.