APRs are better on new as the are subsidised by Ford and you get £500 towards the deal if you take Ford Credits finance.

If you want to change every 3 years I'd do a PCP on a new ST2 as it'll probably be cheaper per month than the second hand one you've found.

 

message stefan@twall on here he works at a ford dealership and is a site sponsor so will be able to help you out, also if your not bothered about white my car will be on sale at their dealership soon.

or if you want a new st he has a white one in stock ready to go which may work out cheaper on finance just tell him Tom told you to contact or message me on here for his contact details http://www.fiestastoc.com/forums/topic/125890-brand-new-frozen-white-st2-available-unregistered-other-stock-due/#entry1555274

 

Firstly welcome to the forums, great bunch of guys on here and gals that will answer most of your questions.
Secondly I recommend buying an ST-2 the extra money really is worth the extra stuff, partial leather, heated seats etc. Also the resell value in years to come will be greater as people tend to buy cars with higher specs for a little extra price.

I personally have never liked the sound of finance through a dealer as it isn't very flexible. If your were to loose your job, you'd have to take a bank loan out to pay off the rest of the car, then sell the car and pay off the loan. In theory get a bank loan as it is definitely more flexible. Go to your banking society and ask them what options you have and check the interest rates.

If buying a car new from a dealership you can get £500 discount for taking out a minimum of £2500 finance. You can pay this finance off immediately and only pay a small amount of interest on the money that you borrowed.

Leasing the car will result in spending more money in the long run if you buy the car at the end of the plan. But the car wont be use for the duration of the lease.

Option 1(New Car): Sell your personal car, finance £2500 through the dealer for the £500 discount and loan the rest through the bank.
Option 2: Loan the full amount through the bank if your buying a second hand ST (If your a HSBC customer you can 4.8% APR on anything over £7000)
Option 3: PCP, smack a lump sum of money down as a deposit which results in low monthly repayments. Obviously at the end of the duration you have the option to buy the car or hand the keys back.

I hope I have helped a bit.

 

If your not to worried about getting a totally brand new car have a look around for an ex-demo, theres definitely some savings to be had here.

I bought my Molten orange ST-2 (63 plate) 3200 miles on the clock for less than some 13 plates are going for with 2-3x the miles on them.

 

Ford options is good if you like changing your cars. Always going to lose money on buying cars, no getting away from it. Also disagree with the above that finance isn't flexible. What if you write your car off, you still could be paying a loan back for something you no longer own. Seen it with a couple people

 

If you write your car off, you have insurance...

 

Thanks all,

Everything is helpful, steering against lease now, basing a purchase on 3 years I'm just looking for the best value I guess, if I'm paying the depreciation on a new car in interest on a second hand one, I may as well buy a brand new one.

TJ, I have messaged Stefan, I think he may be local to me also which would be good.

 

Personally I wouldn't buy it outright as you lose 20% the second you drive it out of the showroom; that said, I do like to change my car regularly every 18-24 months and you take a severe hit in value over that period.

It all depends on your plans for the car but don't be put off by Ford Options as 4.2 APR is very competitive; in fact I worked it out to be just as cheap to buy it that way as borrowing the money from a bank / building society.

 

I've never really got this myself...I know it's the supposed VAT which you lose...but that's only if you plan on selling immediately to a secondhand car dealership...VAT means nothing to the man on the street and it'll still be worth close to what you paid for it to a private buyer.
I recently worked through an example using a specific lease quotation on a life-for-like basis with my car ownership...18k miles per annum...and looked at ALL of the costs that were specific to owning outright versus leasing...and my buying outright VAT argument would appear to hold water...

 

Found this offer, this seems to be the cheapest way to get hold of one (lease)

Thoughts?

http://www.gateway2lease.com/z_ford_fiesta_1.6ecoboostst-23dr_15159_leasing.php#.Uz0_Q61dUdI

 

If you write your car off and took out a bank loan to buy it, you're still going to have to pay those monthly repayment for the loan... same applies to the finance if you took that option instead.

Ford/dealership aren't going to say "Oh, so sorry you crashed your car and now don't have it anymore, don't worry about paying us for the car we sold you anymore."

They're still going to want that money, and rightly so.

 

The 20% hit does make sense and is common place in the car market. Even if you were to sell privately, not to a dealer. If you're asking for the same price as new...why would someone buy it off you when they could get one which is actually new, not second hand regardless of age/mileage?

Averages of depreciation are something like 20% initial/immediate, 10% per year after that for about 4 or 5 years and then level off a bit.

All depends on supply and demand though. But on a mass produced car like the Fiesta, even an ST isn't something that special that someone would pay more than they would if they would wait a few weeks for one brand new.

 

I accept that a car will lose value the second it's had some private ownership...but to go around quoting as gospel that you'll lose the 20% VAT the second it leaves the forecourt is just plain incorrect. It will lose value, of course, but it's for the reasons you've described...it is nothing to do with the VAT.

Anyway, back on topic, my working suggests there's no material difference at all in terms of cost of ownership over two years and 36,000 miles when considering a private lease versus an outright purchase. It all really depends on you having the capital available versus being happy to commit to monthly outgoings for a defined period.

 

As mark said, buying outright and leasing work out the same over two years. You'd lose roughly £6k in depreciation if you owned it, and £6k if you leased it. With leasing you're essentially just paying the depreciation

 

This is what i found was the cheapest. And i ordered today

Drive the deal.... a touch over 3k off list price on the ST2 + free style pack.

Red with no options, (colour wont add much if any value come sale time).

GFV of around £9400 after 2 years (Finance only 4.2% over 2 years). Paying £255 ish a month with £500 deposit.

When the 2 years is arriving. Take out a bank loan with decent rate.

Keep it for a third year. Parkers then expect it to be part ex'd with 60k on the clock for £9800.

Soooooo, excluding finance costs...

3 years of depreciation will cost me £15200 - £9800 = £5400

Throw in the fact I'll sell private and only do 30k miles that figure will be a fair amount less, maybe £4000 of depreciation.

Parkers link.

http://www.parkers.co.uk/cars/reviews/ford/fiesta/st/buying-selling/

 

I found it hard to justify the higher rate of interest on the 36 months, it added around £1k of intrest and had higher monthlys but a lower GFMV if say you wanted to buy (which i think i might as was very impressed with the test drive) although 7.2% is not far off alot of PCP plans. Mini's is around that unless you want the less popular coupe/roadster @1.9% or Skoda do some 0% finance

 

I'm on 3 yrs to keep monthly costs down. I was looking at a 10k used car which would have been about 300 a month. On pcp mine is 240 so mine I got a new car for less per month than a 4yr old car. Can trade or buy at the end, I'm looking at probly buying

 

Very simple answer. Had mine a week ST-1 in frozen white with Style pack. Bought through ford privilige scheme open to anoyone who has a family member who works for ford, jaguar or landrover. Initial deposit of £2693 and £110 per month over two years with the option of changing the car after 9 months ONLY £99 per month if you have it in red. Bargain of the century and the car is brilliant. To it into context. The client before me had just bought a fiesta style basic model without privilige discount and paid more than my ST!! NO BRAINER! Link below some great deals

www.employeevoucher.co.uk

 

Very simple answer. Had mine a week ST-1 in frozen white with Style pack. Bought through ford privilige scheme open to anoyone who has a family member who works for ford, jaguar or landrover. Initial deposit of £2693 and £110 per month over two years with the option of changing the car after 9 months ONLY £99 per month if you have it in red. Bargain of the century and the car is brilliant. To it into context. The client before me had just bought a fiesta style basic model without privilige discount and paid more than my ST!! NO BRAINER! Link below some great deals

www.employeevoucher.co.uk

How much is final payment if you want to keep it after the 2 year?

 

Don't forget the Aston Martin Employees

 

Very simple answer. Had mine a week ST-1 in frozen white with Style pack. Bought through ford privilige scheme open to anoyone who has a family member who works for ford, jaguar or landrover. Initial deposit of £2693 and £110 per month over two years with the option of changing the car after 9 months ONLY £99 per month if you have it in red. Bargain of the century and the car is brilliant. To it into context. The client before me had just bought a fiesta style basic model without privilige discount and paid more than my ST!! NO BRAINER! Link below some great deals

www.employeevoucher.co.uk

Do you think that £220 a month for two years with nothing to show at the end of it is excessive?

 

If you didn't put a deposit in like me then you'd be paying £220 a month for your ST1.

I'm only paying £30 more a month for a ST2 and I don't get privilege!