Is this a good deal for a Ford Fiesta

jordan282

jordan282

jordan282

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So basically I will get the bog standard 09 Ford Fiesta Studio 1.25. It will cost £129 for 60 months(0% interest so about £7500) and only has 15000 miles on the clock. Its from a ford dealer so I will get a 12 month warranty also. Just wondering if anybody has recently purchased a Ford fiesta and found a better deal.

Thanks
 
Do not take out a 5 year finance agreement on a 2 year old Fiesta. You will immediatly and then forever more owe more than its worth.

This is not a sensible idea.
 
[TW]Fox;18711970 said:
Do not take out a 5 year finance agreement on a 2 year old Fiesta. You will immediatly and then forever more owe more than its worth.

This is not a sensible idea.
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Assuming he (or Motors forum ;)) is happy with the final price, is it still a bad idea if it's 0% interest? Isn't it just spreading the money around? Or is it a bad idea because you will find it hard to sell when it isn't technically yours?
 
To get 0% interest on a used car, you generally end up paying more than the car is worth instead.

Otherwise, from the dealers point of view, why bother? If its a well priced car somebody will offer you £7.5k now not £7.5k over 60 months without any profit from the interest.

I've no idea what its worth (I'll check tommorrow in Glass's when I am back home) but if its £1k overpriced then you can consider that £1k as 'interest'.

btw: You'd get 12 months warranty on car car even from a private seller as it has 12 months left on its new car warranty.
 
Dealers tend to be more expensive anyway don't they? Or are we saying that they will bump the price even more to account for the finance?
I'm really asking because I saw these 'up to 5 years 0%' flags down my way too but I wasn't interested enough to talk to a car salesman.
 
Bad bad idea as said above. Why a new Fiesta? The Studio spec is poverty, you should be looking at Zetec trim if your heart is set on a new Fiesta.
 
5 years is a long time to be paying for a poor spec Fiesta.

Glass' valuation is probably more accurate than this so see what Fox posts back with, but according to Parkers it should be closer to £6785. 60 x £129 = £7740 so as Fox mentioned it probably comes in about £1k overpriced which is how the dealer makes money from 0% interest.
 
As I suspected then. Remember, the dealer is there to make money not to make you feel warm and fuzzy.

If they offer you 0%, or an amazing tradein, or 1000 quid off list price, they will make it back in other ways.
 
That's the current shape Fiesta, right? I drove one (albeit 60 plate) a few weeks back and really liked it. It's a big step forward from the Mk6. You could do a lot worse.

I'd hold out for a better spec (like a Zetec) and weigh up the 'free' finance against the price of the car and work out if you're getting quite as good a deal as it first appears. Someone, somewhere is paying that loan.
 
5 years with a Fiesta. I've managed nearly 4 years with the Micra and if I hadn't have been at uni for the last 3 years then it would've gone long ago.
You'll get bored/sick/tired of it by 3 years (and that's being very fair), so I wouldn't go with this deal.
 
[TW]Fox;18713144 said:
To be fair though it is 3 times as old so I agree it's not really a fair comparison.
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Fair enough it wasn't a great comparison but it shows you what a crap deal the OP would be.
 
You could get a brand new one for £500 more?

Dunno, the 2nd hand prices seem fairly high anyway. Probably looking at £6-6.5k to buy a similar 09 (but higher trim if you want) but if you were financing over 5 years anyway you'd have to get a loan at about 6% APR (on £6.5k) to beat the £7500 price

5 years tho... thats a long time to be chained to a fiesta
 
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