What o you think of this deal? New Ford Fiesta £65 per mth 4.9%

jam_tomorrow

:hello: I'm still out here, still listenig, some very persuasive arguments. I've certainly opened a can of worms with this one. I'll take a deep breath before starting a new thread again!

Deans_2

Hi Jam,
Perrys of Aylesbury have a new 3 door Zetec 1.25 for sale at £8995 at the mo.
Do some internet research on prices & go back to your dealer.
They will want you to buy with them so hopefully will drop their price.
Good luck!
D

Lemonade_Pockets

jam_tomorrow wrote: »

:hello: I'm still out here, still listenig, some very persuasive arguments. I've certainly opened a can of worms with this one. I'll take a deep breath before starting a new thread again!

Nah its good you should do it more often. I, we, you, everyone learns a lot by having a good debate.

kitchpoo

Ling_Valentine wrote: »

Kitchpoo

Always someone who is better than every motor dealer in the UK. This time, it's you. Cars as an investment tool, maybe Martin will recommend that?

Its high risk for the uninitiated. I've been helped by the shortfall in this sector due to people holding on to their cars, increasing the value of the £2000-£5000 market marginally over the last 4 months.

Ling_Valentine

goldspanners wrote: »

leasing might work out well for a lot of people, folk that just want a nice car to either keep up with the jones' next door or as a reliable tool to get them from a to b.
but a lot of people enjoy the pride in owning thier car,whether it be worth £500 or £50,000.
like your name ling, theres a certain romance in owning your own car.

Pride? Romance? A car is a lump of metal. It costs a lot. Anything you can do to mitigate costs is worth considering.

Having your name on the V5 log book makes no difference whatsoever to your use of that car. I don't see the "pride" in a car. Status for posh cars, maybe...

"Pride" is about your childrens' achievements, about success in your life, about making a moral decision. Not, surely, a depreciating lump of painted metal with wheels, one of 1,000,000 off a production line. Romance is about your lover or your relationships. Maybe I just miss this argument about a Ssangyong Rexton North Korean romantic pride idea..., just because you have put £20k of cash in and lost £10k in a blink. Guess you have to be romantic about that?

Manufacturers and advertisers con you with all that pride and romance guff.

- Ling

Ling_Valentine

Contessa wrote: »

I've been considering changing my high mileage diesel car but decided that, as long as she's still running well, it's not worth it. What does put me off about leasing, or PCP etc deal, is concern I would be penalised if the car isn't in pristine condition on return. At the moment I don't really worry about the odd body work scrape, chip etc.

This is a daft argument. When you sell any car, apart from a banger, the damage and wear affects the value. This is a complete red herring. No one (except bad drivers) has significant damage on a 2-year old 20k car.

If you had paid cash for that car, you would surely repair the damage before you sold it, (or even if you don't want to sell it), to maximise value. Well, that is exactly the same with leasing.

Damage costs you,however you pay for the car. It's obvious. It's the same cost. So, no penalty. In 3-years, I have not had one complaint about this.

Contessa, your car is "it" not "she" (does your fridge have a sex?), and some people like older cars. That's fine. It's a balance. Less safety and less reliability versus more of both

- Ling

Ling_Valentine

kitchpoo wrote: »

Its high risk for the uninitiated. I've been helped by the shortfall in this sector due to people holding on to their cars, increasing the value of the £2000-£5000 market marginally over the last 4 months.

If you have managed what you say, then you are one of a very few people in the UK.

My point is that you cannot predict this. No one can. Even the car experts can't. You can guess, and win, but that's about it.

It is all about financial planning, as well as the cost of your time and effort. If you know exact motoring costs for 2 or 3 years in advance, you can clearly plan more effectively and not need contingency funds spare for breakdowns or replacements. You can use your spare cash for something more effective.

The car industry wants your cash. Don't give it to them except on a highly planned monthly exchange for a new car. In that case you can make the car something exactly budgeted and take the variables away. You can do more productive things (opportunity cost/benefit as someone said) with your cash. Cash is king (not Car is King).

Cross your fingers on the next one, kitchipoo Best of luck.

tomstickland

jam_tomorrow wrote: »

Hi, wondered if any body could tell me whether this is a good deal.

New Ford Fiesta Zetec 1.25 3 door
RRP 10,765
Our price 9,461
Saving 1,304
£65 per month

FINANCE EXAMPLE
On the road price £9,461
Deposit £3,311.35
Amount of credit £6,149.65
Total charge for credit £562.75
Balance payable £6,712.40
Optional final payment £5,140
Total amount payable £10,023.75
24 monthly installments £65.10
typical APR 4.9%

Any opinions on the car & the deal would be welcomed. Thanks

My thoughts are why not buy an 18 month old model for a lot less.

jam_tomorrow

tomstickland wrote: »

My thoughts are why not buy an 18 month old model for a lot less.

Hi, I would quite happily buy a used (but new shape) one. I'm not desperate for supper shiny new (don't want to be the first one to dink such a beautiful thing and I will ( when you've always drove bangers it's quite an adjustment to be careful and not scrawk it along the hedge down the twisty lanes). Problem is, I want to pay £65 per month and I don't think I'll be offered £35% down and 4.9% APR on a used one, so monthly payments will be much greater.

Ling_Valentine

tomstickland wrote: »

My thoughts are why not buy an 18 month old model for a lot less.

OK, why not buy a 36 month old car for even more less. Or a 5-year old car? Or a 9 year old one for peanuts?

There is more to this. Someone may want a car as a commodity. To get, use and dispose of for minimum cost in fixed time frame, never out of warranty, no unforseen costs.

The new car is a later much better model, a more attractive car with additional safety features. May be for a loved one who they want in the safest car possible for the price. More economy, better CO2. Much further away from the MOT, more warranty. It is simply nicer to have a new car instead of a used one. They smell nicer, for a start. More reliable, new tyres, brakes everything... not worn parts. Will not need a service for ages and then it will be a very small one.

And when you can lease them as cheaply as at present, older 07 models are not as attractive. Plus there are the time considerations of messing around trying to find a good used one... for example, if I was to spend 10 hours on that, there would be a considerable cost to me. How much is your time worth to you?

- Ling