Opinions on Nearly new Fiesta price

dickyseville

I'm after a nearly new Ford Fiesta Zetec for my wife. I've seen one at Polar Ford at £8695. It's got 11,000 miles petrol on the clock and is on a 59 plate and in excellent condition. The old car is a banger so they've offered £600 PX. I'm putting down £1400 deposit also. I'm going for the Options deal where I pay £156 per month for 2 years then either swap the car or pay off the balance. They've given me free tax for a year but won't knock down the price of the car. Anyone out there think this is a good deal? I think I'll go to a competitors tomorrow to play them off against each other afterall it's supposed to be a buyers Market! I don't know why they won't drop the price closer to £8000 because with the finance they'll be making over £1000 in interest from me in 2 years plus my return custom when I come back for a new car again. Advice appreciated when it comes to deals on cars.

Kilty_2

What's the interest rate on the finance? What's the GFV (Guaranteed Future Value / Final Payment)? What's the history of the car ? (who was the first owner? Hire company?)

property.advert

You need to see what the real price is for this car new. That is not the list price but what you could get it for via a discounter. Then you know how good the £8695 is.

Your £600 part exchange may be what you could sell it for, or more. Only you know.

Just how little is tax on this car anyway ?

I don't like these deals. I think you are better off borrowing the money elsewhere and simply buying the car outright.

Kilty_2

3dr Fiesta 1.25 Zetec £9400 @ Drive The Deal. ( A 1.25 Studio is £8710! )

As far as I can tell Ford Options comes with a £500 deposit contribution on new Fiesta too making it £8900.....

property.advert wrote: »

I don't like these deals. I think you are better off borrowing the money elsewhere and simply buying the car outright.

Ford website shows their Options finance on (new) Fiesta is 4.9% APR representative - can you get a loan for that?

dickyseville

Hi. GFV of the car has been set at £4114 in 2 years time. Interest rate works out at just over 5%. Not sure who was the original owner of the car yet. With only 11000 miles in 1.5 years I can't see it being a rental company but I'll check that out. I think £600 for the old car is OK because it really is on it's last legs. How can I find how much I can get it from a discounter. Any advice welcomed. Reason I'm leaning towards the 2 year options deal is because I don't want to see all the value of the car disappear like the old one. In 2 years I can renew to a newish car again. If I borrowed enough to buy it outright I'd have to take it out for 4 or 5 years by which time the car would be worth very little.

Kilty_2

Only thing about replacing the car every 2 years is if they've set a GFV mostly in their favour you'll be forking out that cash deposit every time.

Definitely look at brand new (those prices I quoted above are for brand new)

dickyseville

Hi Kilty, just got a quote from just the deal and the cost comes out at about £3 per month more than Polar are quoting for a 2 year old car which is crazy! Great help thanks. Only question is, how long would it take for the car to come from ordering and at the end of the 2 years where do I take the car to trade it in etc?

Kilty_2

You can trade it in anywhere you like after the 2 years - you just need the dealer you're giving it to to settle the finance.

Don't know about lead times though

dizzyblonde82

dickyseville wrote: »

Hi Kilty, just got a quote from just the deal and the cost comes out at about £3 per month more than Polar are quoting for a 2 year old car which is crazy! Great help thanks. Only question is, how long would it take for the car to come from ordering and at the end of the 2 years where do I take the car to trade it in etc?

I purchased a brand new ford fiesta zetec s last year on the ford options 2 year deal and I waited about 8 days for the car to be delivered.

My husband purchased a brand new car last week and it is taking 12 days between buying the car and collecting but that is due to the bank holidays, my husband was advised that if he ordered any optional extras it would be around 12 weeks for delivery.

If you only require a standard model with no added optional extras then delivery is usually quite quick, if there are any extras you want then the dealer can check if there are any models of that spec already built.

dickyseville

Thanks for the advice yesterday, here's an update. Got a quote from DriveTheDeal for a 1.25 Fiesta Zetec in White with tinted glass. Came out at £9473.20 with me paying £1500 deposit over 24 months paying £1272.48 interest. Meaning £142.57 per month and a GFV of £6041.57.

Went back to Polar Ford who say they can supply a new 1.4 Fiesta Zetec in White and fit privacy glass. The cost is £10800. On top of my £1500 deposit they will give me £600 PX for my wifes old banger plus £500 from Ford. The interest charges work out at half at £678.48 with a GFV of £5638.00. Monthly payments would be £135.02.

This seems like a really good deal to me or am I missing something? Tax is the same as the 1.25 for the 1.4 (first year is free anyway) and insurance is no different. On paper there's only 2 MPG difference. I was going to go for a diesel but it might be a bot of a false economy because the longest journey she does is about 2 miles to work.

Opinions welcomed before tomorrow when I'm thinking of signing on the dotted line!

Kilty_2

How can the GFV be less for the 1.4........ are there different mileage limits on the 2 deals?

(also, get a quote from DtD for the 1.4 too?)