Ford Fiesta Deal

drocks

Hi everyone,

I have recently moved offices in work and the new location i am at has made me consider buying myself a new car. I went to my local ford dealer at the start of the week and this is the latest quote he has given me ..apparently its the final..its a pcp quote:

Ford Fiesta 1.25 82 Zetec 3dr
Deposit: £200
Monthly Payments: £169
Mileage pa: 9000
Term: 36 months

This being my first purchase for a new car I would like to know your opinions on this deal whether it is good or should I be looking for better offers?

jaydeeuk1

Not that good imo, a lease will be better value.
I presume yours is 36x169 + £200
So 6284 in total, or an average of £174 a month


Some here to look at

http://www.gateway2lease.com/z_ford_fiesta_1.0125psecoboostzetecs3dr-newshape_15402_leasing.php#.VNzE9fmsWkR

Better engine, metalic paint, 2 year deal works out at avr £166 a month

a 3 year deal

http://www.centralcontracts.com/lease_ford_fiesta_hatchback_1_0_ecoboost_125_zetec_s_3dr-57302-personal/

Works out at £164 a month average.

Can always ask the dealer if they do leases and if they'll price match.

drocks

I thought of leasing, but was put off it when they stipulated that if you take a lease option for 36 months it is exactly for that amount of time, whereas a PCP the dealer can phone in 18 to 24 months to upgrade to a new model etc meaning I could save on services as well plus theres some equity on the car.

Also have heard that on lease schemes the finance company are pretty strict on the condition of the car when it comes back.

SmellyPetrol

You have to adhere to fair wear and tear guideance, the BVRLA has advice on this :- http://www.bvrla.co.uk/service/fair-wear-and-tear-guides --- every finance company has their own idea as to what is good and bad, but its not so different really. Just have 2 ask the questions.

As for the deal - seems there or there abouts. Had a look about 4 u on my usual lease sites and found:

(not so cheap tbh)
http://www.alternativeroutefinance.co.uk/results.php?vehicle=car&leasetype=personal&make=FORD&model=FIESTA&bodystyle=&trim=Zetec&transmission=&fuel=&initialpayment=6&term=36&mileage=10000 (£177 lease)

Very cheap here starting at 144 - http://www.hippoleasing.co.uk/personal-lease-cars/ford/fiesta-hatchback

and even cheaper using whatcar? - http://www.whatcar.com/car-leasing/deals/ford/fiesta/?type=personal

In any case, the deal seems okay to me from ur local dealer. You also get that advantage of popping in whenever you want to sort out any issues (which you cant put a price on!!) But yes, you can probably get this cheaper if you shop about.

=rizla=

Whats the 'bubble' payment?, and also the APR %?


Oh and you should ALWAYS look for better offers!!!

drocks

also forgot to mention included in this price is GAP insurance. Wasnt too sure about GAP, well what I mean is GAP from Ford as they were charging 399 but stated that it covers euro zone, no excess, and if my insurance company pays out the GAP pays out. But when I compared to GAP insurance online they were much cheaper but did not mention anything about excess and pay outs and coverage.

SmellyPetrol

GAP is a good thing to have if its free (if not, probably not worth paying out for imo)

if your car is a a write-off due to theft, fire or accident GAP will pay the difference between the amount paid out by the insurance company and any outstanding finance on the vehicle. So can be handy if u have a fluff up!

jaydeeuk1

drocks wrote: »

I thought of leasing, but was put off it when they stipulated that if you take a lease option for 36 months it is exactly for that amount of time, whereas a PCP the dealer can phone in 18 to 24 months to upgrade to a new model etc meaning I could save on services as well plus theres some equity on the car.

Also have heard that on lease schemes the finance company are pretty strict on the condition of the car when it comes back.

A PCP is like a lease, except you'll have an option to buy the car at the end. A dealer more likely to offer you a deal in 18 months time if you've paid a big deposit on the car as they have more of your money already. At £200 deposit I doubt they would as its in their financial interest to keep you locked in to the end, or maybe they'll offer a more profitable lease for them.

Why not just do a lease for 24 months then if you want the option of changing? As my figures above show, you can get a better car for less over 24 months.

flashg67

I'd say GAP is a good idea to have, but not at the inflated dealer price - same or better cover is available online for half the price.

ETA - have you looked at nearly new - eg motorpoint car supermatkets etc?
Having a new car is nice, nut it is only new for a short while!

anotheruser

Why not just buy a banger and have no monthly outgoings like that?

CTcelt1988

anotheruser wrote: »

Why not just buy a banger and have no monthly outgoings like that?

Maybe they want a car that's reliable and won't break down, costing them more.