Looking To Buy A Used Car From A Dealership

byronwells

Alright Guys


I am looking at buying a used Ford Fiesta from the Ford Dealership. However I am wondering if I should take the Gap, and warranty options/addons from them or getting them from elsewhere??


At the moment they have quote us an option finance with gap for 3 years, then warranty 1 year of £201 per month..




Another side question if I was able to buy the car out right they would not allow me to have the gap option just the warranty? Where else can I get that covered from??

Ebe_Scrooge

I'd do your sums very carefully. Is gap insurance really worth it on a used car, where the bulk of the depreciation has already occurred ? It depends on how old the car is, how long you expect to keep it for etc. But on the face of it, gap insurance sounds like an unnecessary expense on a used car. Work out how much you'll be paying for the insurance - you may well find that it pays you to just put an equivalent amount of money aside into your own pot every month, and use that for any shortfall should the worst occur.

byronwells

Ebe_Scrooge wrote: »

I'd do your sums very carefully. Is gap insurance really worth it on a used car, where the bulk of the depreciation has already occurred ? It depends on how old the car is, how long you expect to keep it for etc. But on the face of it, gap insurance sounds like an unnecessary expense on a used car. Work out how much you'll be paying for the insurance - you may well find that it pays you to just put an equivalent amount of money aside into your own pot every month, and use that for any shortfall should the worst occur.

Well the car is going to cost us £8,500, 2011 Model.

OddballJamie

Wouldn't bother with GAP insurance on a 3 year old, the depreciation should be pretty smooth now.

Although that sounds a lot for a pre-facelift Fiesta, is it a high spec diesel?

byronwells

OddballJamie wrote: »

Wouldn't bother with GAP insurance on a 3 year old, the depreciation should be pretty smooth now.

Although that sounds a lot for a pre-facelift Fiesta, is it a high spec diesel?

It's a Ford Fiesta Zetec Bluetooth & Rear Parking Sensors 1.4l 5dr petrol versions. It's on Autotrader at the mo, but can't paste links as yet

forgotmyname

Way too much. How does it differ from the similar cars for £1500 or so less?

Haggle them down more and forget the GAP. The dealers GAP will usually be pricey so always get quotes elsewhere.

byronwells

forgotmyname wrote: »

Way too much. How does it differ from the similar cars for £1500 or so less?

Haggle them down more and forget the GAP. The dealers GAP will usually be pricey so always get quotes elsewhere.

For £1,500 you are looking at an earlier model, with loads of miles on the clock al ready.

atrixblue.-MFR-.

How would you buy it outright, CC, personal loan, or saving plus a vehicle part ex?


I think the price is a tad on the higher end of the scale for 2011 model.


I could be wrong, but have you compared the finance repayment price over a ex demo 6 month old or brand new vehicle, whats the difference if you have and what kind of deposit are they after, have they loaded the form for HPI check? admin charges? what are the prices they loaded on there and intend to roll in the monthly payment to get it past you without noticing it.

andy111

Way over the odds.


You should be looking two years later 13 reg at least at that money.


Either 1.25 or 1.0 with free road tax and stop start. Titanium with all the extras.


There are thousands out there.

byronwells

andy111 wrote: »

Way over the odds.


You should be looking two years later 13 reg at least at that money.


Either 1.25 or 1.0 with free road tax and stop start. Titanium with all the extras.


There are thousands out there.

From where?????????????????

byronwells

atrixblue.-MFR-. wrote: »

How would you buy it outright, CC, personal loan, or saving plus a vehicle part ex?


I think the price is a tad on the higher end of the scale for 2011 model.


I could be wrong, but have you compared the finance repayment price over a ex demo 6 month old or brand new vehicle, whats the difference if you have and what kind of deposit are they after, have they loaded the form for HPI check? admin charges? what are the prices they loaded on there and intend to roll in the monthly payment to get it past you without noticing it.

Taking out a personal loan