Am i asking too much for my car?

Kez100

Isn't it added to the settlement figure?

harveybobbles

No. Just say you owe one more monthly payment of £150 plus the final "admin fee" of say, £50 will be added. But if you phoned for a settlement, it'd be £150...

MoNeY SaViNg

Kez100

Interesting. I've never bought on finance (apart from my present deal which is 0% with no fees anyway). It's worth knowing though. What if it's called something else? Say 'final purchase' fee?

matt1987

harveybobbles wrote: »

No. Just say you owe one more monthly payment of £150 plus the final "admin fee" of say, £50 will be added. But if you phoned for a settlement, it'd be £150...

MoNeY SaViNg

That's an interesting point... But would that work? Say, if I phoned a month in advance of my final payment, and paid the rest off, wouldn't they just lump the purchase fee onto that? Afterall, it would still be the final payment, just a month earlier..

matt1987

Just remembered.. they said if you do pay the remaining finance off early, the purchase fee will still be added.. so wouldn't be gaining anything that way. Also, they charge a fee for settling the finance early too.

MORPH3US

matt1987 wrote: »

and not a Zetec.... which is the top spec Fiesta.

Minor point, but the ST is the top spec Fiesta... followed by the Ghia and then the Zetec S and then the Zetec, then the Style and finally the Studio... (plus loads of special editions sprinkled in there...) so they can hardly say yours is the higher spec....

As for negotiating extras... I doubt you'll get any mats / petrol / extra tax.... this is a rock bottom deal, even the online brokers can't match this....

RE: Finance - as above, why not get a loan for the money = cheaper (possibly 6.8% instead of 7.9%) and also no £95 (or £10) fee to worry about!!!

Finally, do you know how long it will take to get your car delivered... it could be immediate if they have them in stock, it could be 2-3 months if not.... (think my g/f's Zetec was about 8-10 weeks)

M

Keith

£6999 is a very good price for a new Fiesta even if it has a 1.25 engine! I've checked the usual places, Archers, Coalville and Matlock and all 3 want more at the moment for one.

matt1987

MORPH3US wrote: »

As for negotiating extras... I doubt you'll get any mats / petrol / extra tax.... this is a rock bottom deal, even the online brokers can't match this....

RE: Finance - as above, why not get a loan for the money = cheaper (possibly 6.8% instead of 7.9%) and also no £95 (or £10) fee to worry about!!!

Finally, do you know how long it will take to get your car delivered... it could be immediate if they have them in stock, it could be 2-3 months if not.... (think my g/f's Zetec was about 8-10 weeks)

M

I have considered getting a loan, but as I would need to borrow just 7K, the APR is higher than the finance.

As for delivery times.. on the system it showed that they had a black on in Dagenham, I think... which he reckoned would be a few weeks, but he couldn't cofirm this as he said del times vary. I am prepared to wait though.. as my dad doesn't need my car till I get my new one anyway, so I'll still have access to a vehicle.

Yeah - I realise this is a good deal, hence why I am going for it... but I am going to see if they'll throw in a few sweeteners. He said the cars come with around half a tank of petrol, and they are not allowed to fill them up anymore, so no budging on that. But I'll see what happens tomorrow...

MORPH3US

Why do you need £7k if the car is £6845 and you have £2000 deposit?!?!

Surely you only need £4845....

According to http://www.moneysavingexpert.com/loans/cheap-personal-loans#best you could get a loan for 6.8% which is cheaper than the 7.9% Ford charge... so not sure how you make the loan APR to be higher?!?!?

matt1987

Yeah, sorry my mistake.. I should have said 'under' 7K because many I've looked at for under 7K have higher APR, and over 7K have lower.. 7K usually being the threshold for some reason. Those in that link are good rates though...