BLK6T Member 305 Member For: 19y 6m 4d Gender: Male Location: Sydney NSW Posted 08/04/05 02:33 AM Share Posted 08/04/05 02:33 AM Hi guys How does Ford Credit go about the early termination of a hire purchase??? I am looking at upgrading soon and am looking at finance companies to go through. I didnt use Ford Credit on the ute beacuse I found a great deal else where. This will be my first Hire Purchase. I need to know incase I want to terminate early...if I use Ford Credit. Link to comment Share on other sites More sharing options...
cikas Team HgAg Member 616 Member For: 19y 5m 14d Location: Rockingham W.A Posted 08/04/05 02:44 AM Share Posted 08/04/05 02:44 AM Hey manMy advice from experience. Dont go Ford Credit...From the Ford Contract.EARLY PAYMENT FEE, payable of $750.00 reducing on a pro rata basis for each month of the term of the loan which has expired, if the borrower repays or substantialy repays the Loan contract before the final payment date.I paid mine off 3 years early and still got slugged with $200 fee..But at least I saved there intrestWhen I bough my T the offered me an intrest rate of 16%.. I told them ill take the T but not the 16% .Hope that helps cik Link to comment Share on other sites More sharing options...
BLK6T Member 305 Member For: 19y 6m 4d Gender: Male Location: Sydney NSW Posted 08/04/05 02:48 AM Author Share Posted 08/04/05 02:48 AM Hey manMy advice from experience. Dont go Ford Credit...From the Ford Contract.EARLY PAYMENT FEE, payable of $750.00 reducing on a pro rata basis for each month of the term of the loan which has expired, if the borrower repays or substantialy repays the Loan contract before the final payment date.I paid mine off 3 years early and still got slugged with $200 fee..But at least I saved there intrestWhen I bough my T the offered me an intrest rate of 16%.. I told them ill take the T but not the 16% .Hope that helps cik <{POST_SNAPBACK}>Thanks mate, I have heard this before but want some more input. :o Link to comment Share on other sites More sharing options...
jetute Donating Members 4,553 Member For: 20y 2m 18d Gender: Male Location: brisbane Posted 08/04/05 06:55 AM Share Posted 08/04/05 06:55 AM I have used ford credit for my T and am not paying anywhere near 16% ... is a lot less.... divide that figure by two and your close I have just traded my ute for a sedan and will take delivery early next week .. I have again used ford credit.... The early termination fee is waived if you use them for your next car also... Hope this info helps Link to comment Share on other sites More sharing options...
xrturb god bless my kids Member 611 Member For: 19y 11m 26d Gender: Male Location: claremont meadows, sydney Posted 08/04/05 07:03 AM Share Posted 08/04/05 07:03 AM I use ford credit and the interest is 7.3 Link to comment Share on other sites More sharing options...
loop Member 49 Member For: 20y 5m 7d Location: North Central Victoria Posted 08/04/05 10:07 PM Share Posted 08/04/05 10:07 PM You can push your dealer for a better rate from Ford credit. The dealer and salesman get a cut so if you can get them to reduce by 1% or so its not bad finance.I was also told if you leave a small amount on your account until it reaches full term you will avoid early payout fees. Link to comment Share on other sites More sharing options...
Swanga Benzene Member 432 Member For: 19y 10m 16d Gender: Male Location: Out West Posted 10/04/05 08:04 AM Share Posted 10/04/05 08:04 AM I have used ford credit for my T and am not paying anywhere near 16% ... is a lot less.... divide that figure by two and your close I have just traded my ute for a sedan and will take delivery early next week .. I have again used ford credit.... The early termination fee is waived if you use them for your next car also... Hope this info helps <{POST_SNAPBACK}>Is there any other fee's incured if you do this? Im looking to trading my ute in on a typhoon or xr6t, I just want to transfer the debt and pay the difference?? Link to comment Share on other sites More sharing options...
jetute Donating Members 4,553 Member For: 20y 2m 18d Gender: Male Location: brisbane Posted 10/04/05 08:25 AM Share Posted 10/04/05 08:25 AM I have used ford credit for my T and am not paying anywhere near 16% ... is a lot less.... divide that figure by two and your close I have just traded my ute for a sedan and will take delivery early next week .. I have again used ford credit.... The early termination fee is waived if you use them for your next car also... Hope this info helps Is there any other fee's incured if you do this? Im looking to trading my ute in on a typhoon or xr6t, I just want to transfer the debt and pay the difference??no, no other fees... I just got the trade, paid the difference myself and got finance on the new car.... no fees and the early termination fee is waived Link to comment Share on other sites More sharing options...
NYOPA Team Blueprint Donating Members 312 Member For: 20y 5m 2d Gender: Male Location: Sydney Posted 10/04/05 10:44 PM Share Posted 10/04/05 10:44 PM I use Ford Credit, 7.25% over 5 years.hope this helps Link to comment Share on other sites More sharing options...
newxr Member 279 Member For: 20y 4d Posted 11/04/05 11:58 PM Share Posted 11/04/05 11:58 PM HiI use ford credit - 6.85% over 5 yrs no residual. No early termination fee if I use ford credit again and guaranteed trade equal to (or greater than) payout fee if upgraded in the first four years. Hope this helps Link to comment Share on other sites More sharing options...
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