shef2013 Posted August 5, 2016 Share Posted August 5, 2016 (edited) If this isn't the right place for this topic, please delete it, thanks! .............................................................................................. I need a new car, I love the new Ford Fiesta 1.0 Ecoboost 99bhp. Now I had a deal from Ford, 65reg, only 1998miles, white, 5 doors, Zetec model. 2 and half year manufacturer warranty left. newly serviced. HPI clear. now Ford offers me: 1. one off payment £9600, non-negotiable:mad: 2. finance: 0 deposit 48 months no other product and service, i.e. no added Guaranteed Asset Protection, Lifetime paint protection etc. £190 monthly payment Guaranteed Future Value £3700 mileage allowance 15000 per year no admin fees or other hidden charge I am totally new to finance, so I don't know if it is a good plan?? any suggestions please? Should I go for it? Thanks Edited August 5, 2016 by shef2013 Link to comment Share on other sites More sharing options...
Norseman Posted August 5, 2016 Share Posted August 5, 2016 (edited) If this isn't the right place for this topic, please delete it, thanks! .............................................................................................. I need a new car, I love the new Ford Fiesta 1.0 Ecoboost 99bhp. Now I had a deal from Ford, 65reg, only 1998miles, white, 5 doors, Zetec model. 2 and half year manufacturer warranty left. newly serviced. HPI clear. now Ford offers me: 1. one off payment £9600, non-negotiable:mad: 2. finance: 0 deposit 48 months no other product and service, i.e. no added Guaranteed Asset Protection, Lifetime paint protection etc. £190 monthly payment Guaranteed Future Value £3700 mileage allowance 15000 per year no admin fees or other hidden charge I am totally new to finance, so I don't know if it is a good plan?? any suggestions please? Should I go for it? Thanks According to your figures by paying £190 a month over 48 months this comes to £9,120 which is significantly cheaper than the one off payment, that doesn't make sense as it always costs more for finance, something doesn't add up here.... If they want a sale they can negotiate, check the 2.5 year warranty as well it may or may not be transferable, if it isn't you may need to fork out £600-£1,000 to transfer it over. Some companies do it automatically however others don't be aware of this! Ask to see the service and 'other' receipts as it could be a 'donkey' which is a car that has spent more time in the garage being repaired than it has on the road as 1,995 miles is really low and they may be trying to offload it onto someone like you.... I looked at some Fords last year however in the end opted for a different make Also check your insurance on the ecoboost model, I had looked at both the fiesta and focus ecoboost models and the insurance was about group 9. I drive a 1.2 car now and I'm group 3! You need to look into this a little more before you leap..............I've no idea how much these cars sell for or whether this is a good deal or not, so I would also see what other models of the same are costing Edited August 5, 2016 by Norseman amendment Link to comment Share on other sites More sharing options...
mlfc Posted August 5, 2016 Share Posted August 5, 2016 According to your figures by paying £190 a month over 48 months this comes to £9,120 which is significantly cheaper than the one off payment, that doesn't make sense as it always costs more for finance, something doesn't add up here.... Presumably the one off payment buys the car and the finance leaves you with the final payment as well as the monthly payments. If I'm reading it right that is. Link to comment Share on other sites More sharing options...
*_ash_* Posted August 5, 2016 Share Posted August 5, 2016 Presumably the one off payment buys the car and the finance leaves you with the final payment as well as the monthly payments. If I'm reading it right that is. That's what I thought, especially when saw 'guaranteed future value'. That sounds like a 'walk away' clause to me. - Whether or not the car is good or not, or whether the deal is good or not. I'd probably walk out based on point 1. 1. one off payment £9600, non-negotiable For me, if you are buying a second hand car (which is what this is) - then this sentence would push me off any further talks. I'd advise, go somewhere else, and with cash if you have it. (if you haven't got the money, then I also couldn't see why you wrote it, as it wasn't an option) Link to comment Share on other sites More sharing options...
tinfoilhat Posted August 5, 2016 Share Posted August 5, 2016 You aren't after a particularly specialised car, if he won't move on price, look around. Link to comment Share on other sites More sharing options...
*_ash_* Posted August 5, 2016 Share Posted August 5, 2016 Also check your insurance on the ecoboost model, I had looked at both the fiesta and focus ecoboost models and the insurance was about group 9. I drive a 1.2 car now and I'm group 3! Also OP, make sure you read this If it's right, this could shave a few more quid off, just by picking a slightly different model. Group 9 seems quite hefty for a 1 litre ---------- Post added 05-08-2016 at 23:17 ---------- You aren't after a particularly specialised car, if he won't move on price, look around. Yes, in short. This ^^ Link to comment Share on other sites More sharing options...
Bodie Posted August 6, 2016 Share Posted August 6, 2016 (if you haven't got the money, then I also couldn't see why you wrote it, as it wasn't an option) Could you explain to me please why you changed the size of the text???? I'm baffled Link to comment Share on other sites More sharing options...
bkcin Posted August 6, 2016 Share Posted August 6, 2016 Group 9 seems quite hefty for a 1 litre Performance is only 1 small part of what determines the insurance group. For what it's worth OP the ecoboost Fiesta's are great cars, we bought a nearly new one last year same spec as you mention (although it was 10 months old with 6000miles and was £8800). Test drove most of the other cars in its class and it was far superior performance and handling wise. They are very popular cars and there are lots around so don't worry about shopping around a bit until the right one/price comes up. Also, when looking at finance its worth checking if a small unsecured loan would cost less if you don't have the cash lying around. Link to comment Share on other sites More sharing options...
Snowglobe Posted August 6, 2016 Share Posted August 6, 2016 Have a read at this, it explains some things about car finance, it sounds like the finance offer from the dealer is a PCP deal. http://www.autoexpress.co.uk/car-news/90794/pcp-personal-contract-purchase-car-deals-explained http://www.thecarexpert.co.uk/car-finance-pcp-explained/ Link to comment Share on other sites More sharing options...
geared Posted August 6, 2016 Share Posted August 6, 2016 I'd recommend looking into gap insurance as well, especially if taking out finance. It's the one product you never want to have to use, but if you do it can be an absolute life saver. Link to comment Share on other sites More sharing options...
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