New 07 Reg Fiesta for about £6k - good deal?

taxiphil

Currently hunting for a new car for the Mrs and we came across the following deal last night.

I think it's a brilliant deal but would just like to run it past MSEers for their opinion in case I have missed something...

Bristol Street Ford Dealers are offering a brand new 07 Reg Fiesta Style 1.25 for £5995. The model has a good spec and the Ford list price is £8995.

There is a small catch, though, you have to buy it on Ford Credit to get it for that price, as they use the high APR to subsidise a heavy discount on the car. It would be £1k deposit (that's the maximum deposit they'd accept) then £137 x 48 months = total amount payable £7576.

BUT... as we were planning on buying the car for cash outright, the sales manager explained a small "fiddle" we could do. We could take out the finance, then pay it off in full after making the first monthly payment. We'd only lose the cost of one repayment as it wouldn't really make a dent on the capital. Even so, the total amount paid would still be only about £6100.

Is this deal as good as I think it is? I don't think any other small car of comparable quality can be bought brand new for anywhere near this amount. Even used 55 and 06 Reg Fiestas are selling for more than this.

zappahey

Sounds like a good deal, but check the documentation very, very carefully. Many finance agreements have penalties for early redemption.

Keith

This garage . Do the car for £6695. A phone call might knock it down a bit more, I'd be very careful with taking finance and then paying it off a month later.

Keith

Oops, however, the linked garage do the Style for the same price £6695. link

I found them to be the cheapest when I was looking for a Fiesta St

Keith

I found them through google, we had test drove a Fiesta ST which was an ex demo with 8,000 miles for £11k, Archers had them prereg for £10k, list price is over 13k!