ford finance credit @ 0%

TFD_2

Yeah if you could get a short term loan / overdraft etc you could clear the finance and then settle when the car sells.

What is the model / mileage of your Fiesta out of interest?

By paying full price for the car (I assume you did to get 0%), and selling less than 12 months later, when the car has depreciated at the fastest rate it's going to, and then selling when a brand new model has come out... it's a pretty easy way to lose a lot of £££.

jayjayuk

its an 08 fiesta style 1.25 in silver only done about 6k

i know if i wait till 3 years id probably get most of money back....

maybe i should wait a bit

i only got it acause it was 0% but obviously i paid full price for car, about £8850 or something i think....

i paid £1000+ up front for privacy glass, maetalic paint and gap insurance which starts in march. also had everything colourcoded by ford, and the st bumpers...

NickX

Check out www.parkers.co.uk for an online valuation.

jayjayuk

got this off another forum

'Advertise the car. When the buyer comes to pay for the car you then phone the loan company....the buyer speaks to them and clears the finance using his debit card (they often don accept credit cards). Gives you the remaining balance in cash and drives off in his noddy car.
'

TFD_2

If you have a look at cars for sale, you can pick up something very similar for £6K from a dealer - March 08 / 11K miles. In the current climate, for a private sale you'd have to ask maybe £5000-5250. This makes the £5K p/ex offer seem pretty fair in fact. The privacy glass / ST bumpers etc will make it look tidier but not worth a penny more!

If you're set on changing, maybe look at holding off another 6 months? By then it will owe you £900 less, and you will still probably get £5K for a p/ex. You will also then be able to p/ex against an ex-demo Mk7 etc and pay a lot less difference.

TFD_2

jayjayuk wrote: »

got this off another forum

'Advertise the car. When the buyer comes to pay for the car you then phone the loan company....the buyer speaks to them and clears the finance using his debit card (they often don accept credit cards). Gives you the remaining balance in cash and drives off in his noddy car.
'

Yes works, except this goes the other way - he's not paying you less than the finance has remaining, but MORE.... he has to feel satisfied that you have cleared the remainder that his payment left.

jayjayuk

Ford Fiesta, 1.25 Style 3d (05) Price£7,000

on parkers for sale, the car is too new to value....

so looks like if i get 6 to 6.5 im onto a winner

jayjayuk

true, may hold on for the 59 reg lol :P

and get an 09 ex demo car nice thinking

posted_2

Brand new old model ones are on sale for less than 7. 3-3.5k loss in a few months is not really a winner

TFD_2

jayjayuk wrote: »

Ford Fiesta, 1.25 Style 3d (05) Price£7,000

on parkers for sale, the car is too new to value....

so looks like if i get 6 to 6.5 im onto a winner

No chance at that, not if dealers have them up for £6K - look on ebay or autotrader. Also asking prices and selling prices are very difference in the car market at the moment.

Honestly £5K ish is about what that would sell for private right now.

As mentioned above, a car does a huge chunk of it's depreciating in the first 12 months, so if you can hold off just another 6-9 months, it'll be worth nearly as much still, and you'll probably get a much better buy on a new Fiesta then.