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Finance FAQs
Get the answers to your most frequently asked questions about financing your new Ford.

Got a question about Ford Credit's products or services? We’ve got your answer. Here is the master list to all of your FAQs.
How do I obtain a finance quote?
Within the Ford website you can configure the car you're interested in and then obtain a finance quote online for many of our new cars by clicking here. Alternatively, you can click here to find your nearest Ford Dealer. If you haven't already seen Ford's great current promotions then please click here
What does APR mean?
APR stands for Annual Percentage Rate. When you borrow money on an agreement regulated by the Consumer Credit Act, lenders are required by law to quote this rate, which calculates the total amount of interest that will be paid over the whole term of the loan while taking into account any additional charges that the borrower has to pay. The APR allows you to compare the cost of finance from different lenders.
Will I get the advertised rate?
If you are accepted for finance with Ford Credit, the rate you will pay is the advertised typical rate for that car and is not affected by your personal circumstances. 
How old do I need to be to apply for a loan?
You must be at least 18 years old to enter into a finance agreement under UK law.
Do you need to know my salary or outgoings?
Your Ford Dealer will discuss with you the affordability of the loan, and in some instances we will ask you for further information to support this if required.

You should not commit to a finance agreement unless you are confident that you can afford the payments throughout the term of the agreement and have no unforeseen reasons that would prevent you continuing to afford the agreement.

The only personal details we need from you to be able to process your finance application are name, date of birth, contact and employment details and details of the bank account you would like us to set up the direct debit for. We will also need to know details of the vehicle you are purchasing, and the finance plan you have chosen. In some instances, we may require further information to support your finance application, in which case we will notify you via your Ford Dealer.
How long will it take to process my finance application?
In most cases, your Ford Dealer will be able to obtain an online decision from Ford Credit within minutes.
Do you carry out a credit search?
Yes, we will search your record at Experian Limited and they will keep details of our search. To obtain a copy of your Credit record, you can write to Experian Ltd, Consumer Help Service, PO Box 9000, Nottingham, NG80 7WP, go to , or call them on 0844 481 8000. If you wish to obtain further information on how finance companies carry out credit scoring, the Finance and Leasing Association provide a consumer guide – you can find this at
Over what period of time can I take my finance?
We provide a variety of terms, from 12 to 60 months, dependent upon the finance plan you have chosen.
Do you charge any fees?
Our standard fees are: Finance Facility Fee £125 and Option to Purchase Fee £95. However, these fees may vary dependent on marketing promotions.
How much can I borrow?
Subject to satisfying our normal credit criteria, and taking into consideration the affordability of the loan we will lend up to the full amount of the vehicle being purchased, although in certain circumstances we may require you to contribute a deposit.
What information do I need to provide to Ford Credit when applying for finance?
In order to validate your identity, you will need to provide a full UK, or EU driving licence, with both photo-card and counterpart sections. In addition, a proof of address will be required – acceptable proofs of address are: a bank or credit card statement, utility or council tax bill, mortgage statement (all dated within the past three months).
What happens after I've signed my finance agreement?
Your Ford Dealer will give you a copy of your finance agreement and the original will then be sent to us for processing. Once we have set up your account, you will be sent a letter confirming that your agreement has been executed by us.
Do I have to put down a deposit?
In general Ford Credit does not have any minimum deposit requirements. Occasionally certain promotions may require minimum deposits, or in some circumstances we may require you to contribute a deposit. In these instances, your Ford Dealer will advise you of any deposit requirements.
Why do I have to comprehensively insure my car?
Comprehensively insuring your car protects you, Ford Credit and any other party involved in an accident. Should you write-off your car without comprehensive insurance you will still be liable to repay your loan. We offer an excellent value comprehensive insurance product through Ford Insure. Check out the features and benefits by clicking here.
How do I find my nearest Ford Dealer?
Click here to find your nearest Ford Dealer.

INS2013/095 Exp30/10/2014

Why should I take a loan with Ford Credit?
Ford Credit is one of the largest automotive finance companies in the world. We have been supplying Ford customers with finance products in the UK since 1963. We constantly strive to ensure that we provide a range of finance products, whilst remaining committed to delivering the highest levels of customer service and support.
Will the interest rate change throughout my agreement?
No, Ford Credit offers fixed rate agreements, so you'll know exactly what you'll be paying from the outset over the term of the agreement.
What is the Option to Purchase fee?
Hire purchase and personal contract plan (PCP) agreements will include an option to purchase fee, which is payable should you wish to own the vehicle.
What is Ford Acquire and how does it work?
Ford Acquire is our traditional hire purchase plan which is convenient to arrange and has flexible terms to suit your needs. 
For full details of how it works click here
Over what period can I take my Ford Acquire agreement?
Repayment periods can be from 12 to 60 months.
What happens at the end of my Ford Acquire finance agreement?
At the end of the agreement period, assuming all payments have been made (including the Purchase Fee), you own the car.
What is Ford Options and how does it work?
Ford Options is our personal contract purchase plan where your monthly payment is lower when compared to a Ford Acquire agreement of the same length and deposit. 
For full details of how it works click here
What is Ford Options Cashplan and how does it work?
Ford Options Cashplan is a variation of the Ford Options plan, and is ideal if you want to put down a large cash deposit  and do not want to be tied to monthly instalments.
For full details of how it works click here
Over what period can I take my Ford Options/Ford Options Cashplan agreement?
Ford Options agreements can be taken out over 24 or 36 month terms.
Ford Options Cashplan agreements can be taken out over 24 or 36 month terms.
What options do I have at the end of my Ford Options or Ford Options Cashplan agreement?
At the end of both these plans your options are as follows:
  • Renew: Choose another car - If you would like to renew your Ford you can trade it in at your Ford Dealer or sell it privately if you prefer. You must settle your account, and then you may use any excess value over the Optional Final Payment can be used as a deposit towards your new Ford.
  • Return: Hand the car back
  • Your pre-agreed Optional Final Payment gives you protection against any unexpected fall in used car prices. If you would like to return your car, your Ford Dealer will complete a vehicle appraisal. As long as your car meets our fair wear and tear standards, is within the agreed mileage, and your account is up-to-date, there will be nothing further to pay. Additional charges will be made if you exceed the agreed mileage or if your car does not meet our fair wear and tear standards.
  • Retain: Keep the car
  • Ford Options also gives you the flexibility to own the car at the end of the agreement. All you need to do, assuming all payments have been made, is arrange payment of the Optional Final Payment, which was deducted at the start of your agreement, plus the purchase fee.
When is my Optional Final Payment due?
Your Optional Final Payment is due 30 days after your last regular instalment has been paid.
What happens if I have not made a decision and my Optional Final Payment has become due?
Please contact us on 08457 125490 immediately to discuss and advise us of your decision. Calls will be charged at local rates from a landline, but may vary when calling from a mobile phone. Calls may be recorded for training and quality purposes.
Please click here to find out what options you have at the end of your Ford Options or Ford Options Cashplan agreement.
I'd like to return my car at the end of my Ford Options/Ford Options Cashplan agreement. What do I need to do?
Simply return your vehicle to your Ford Dealer, who will carry out an appraisal on your vehicle. So long as the vehicle meets our ‘fair wear and tear’ standards, and you are within your agreed mileage, you will have nothing further to pay. Your Wear and Tear guide, provided at the start of your agreement, will give you further information regarding fair wear and tear as well as the appraisal and return process.
Why is there a mileage restriction?
The annual mileage is agreed depending on your individual requirements at the start of the finance agreement. It allows Ford Credit to allocate a Optional Final Payment to the vehicle, thereby calculating the monthly repayments.

Can I take a payment holiday?
We don't offer a payment holiday facility. Please contact us on 08457 125490 to discuss your personal circumstances.

Can I settle my loan before the end of the agreement?
Yes, you can settle your account at any time once your account has been set up. You can request a settlement quotation on your finance account via our online Account Request Service by clicking here. Alternatively please call us on 08457 125490.

Can I settle my agreement in part?
If you contract was executed on or after June 11th 2010, you will be entitled to partially settle your agreement at any time, providing you give us notice. Please call 08457 125490 if you wish to partially settle your agreement.

Are there any penalties for settling my agreement fully or in part?
Ford Credit settlement figures are calculated according to the Consumer Credit Act for regulated agreements.

Will I receive account statements?
Statements of Account provide details of all payments you have made to date and the outstanding balance. You will receive an annual account statement from us through the post on the anniversary of your contract. You can also request an interim statement to be posted to you within the next 5 working days by calling us on 08457 125490.

Can I cancel my finance agreement?
You will have 14 days to withdraw from a regulated finance agreement starting the day after you receive confirmation that the agreement has been executed by us.

What happens if there is an accident and my vehicle is written off?
We require for your protection and ours that your car is comprehensively insured at all times. In the event of an accident you should submit a claim to your insurer. Please note you must continue to pay normal monthly instalments pending determination of your claim. If the car is not insured, we will take possession of the vehicle and sell it at public auction. You will continue to be liable for the difference between the net sales proceeds received from the vehicle and the insurer’s settlement amount. Our Guaranteed Asset Protection (GAP) product can cover you for such shortfalls. For more information on GAP click here

You can notify us of your insurance details via our online Account Request Service by clicking here

What happens if I can't meet my repayments?
If your account becomes overdue our Collections department will contact you to discuss your personal circumstances. Or you can contact us on 08457 125759 to see how we can help.

Depending on your situation, you may want to seek independent advice. For free, independent financial advice visit the Money Advice Service website.

Can I transfer my agreement into another name?
We are unable to transfer agreements into another person’s name, irrespective of their relationship to you. However, there are some circumstances where we would consider this, such as transfers between two limited companies or where executors wish to transfer equity in the event of a customer death.

How can I update my personal or vehicle details?
You can update us with changes to your personal details or vehicle details (e.g. change address, name, etc.) via our online Account Request Service by clicking here

How do I change the bank details I use to pay for my finance agreement?
You can request a change of payment details (new Direct Debit or Standing Order) via our online Account Request Service by clicking here

Can I change the day that my payment is due?
You can request a change to your instalment due date via our online Account Request Service by clicking here

How can I request a copy of my finance account contract?
You can request a copy of your finance account contract via our online Account Request Service by clicking here

How do I request for a third party to be authorised to act on my behalf concerning my finance account?

You can request for a third party to be authorised to act on your behalf via our online Account Request Service by clicking here

Do you provide my personal details to any other organisations?
Ford Credit will not sell your details to an external organisation. For existing customers, please refer to your Ford Credit agreement for full details of our Data Protection policy and terms.
How do I contact Ford Credit?
You can contact us by telephone on 08457 125490, and our contact details are also available via our online Account Request Service. This service provides you with the option to request one of our dedicated Customer Service agents to call you back. To access the Account Request Service click here
I have a complaint. Who should I contact?
If you are unhappy with, or have any concerns about the service you have been provided, then please let us know.
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