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#1 FordLuke

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Posted 22 September 2012 - 06:47 PM

I've had my 07 Fiesta Finesse for a year come October and its been really great. I've been driving 2 years and started with a cheap Corsa before taking a leap to a newer Ford which I prefer. The trouble is I'm never happy and lately I keep seeing a car I really like the look of on the roads and its simply a newer version of the Fiesta but in white! I think it looks awesome.

Anyway, my problem. As I say, I've only been driving 2 years and I'm 20 so car insurance in itself is a pain in the back side on its own but at the moment my 07 Fiesta is coming up for renewal. I did pay the car off in full though when I bought it. Do you think it would be silly for me to sell my current car now and go for the more updated white version but on finance? Firstly, I'm guessing they won't come cheap so I'd have to go finance. Secondly, is finance an okay way to go? I've never done it, only heard a little about it so not sure if its worth it. Thirdly, am I being greedy and asking for a bit too much too soon? There's nothing wrong with my red fiesta but the thought of getting a newer one excites me.

Cheers.

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#2 FordLuke

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Posted 22 September 2012 - 10:44 PM

Sorry if this is in wrong section or against any rules, btw.

#3 Mathrin

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Posted 22 September 2012 - 11:00 PM

I'm on ford finance, paying... a substantial amount per month for a brand new Fiesta Zetec in white. I think overall it costs like 1.5k more to do finance, but it's worth it imo.

#4 Marcr1

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Posted 23 September 2012 - 09:35 AM

I'd say go for finance if you can afford it. Taking into account you'd save money on no mots to worry about and it's taxed for a year. I'm not sure how much truth is in it but from what I've found newer cars are cheaper to insure as they're safer etc

#5 Mathrin

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Posted 23 September 2012 - 09:55 AM

Well I'm 24, passed in february and fully comp on my own policy is £800ish... and thats with the stacked premium of working in insurance. So there could be some truth to that idea!

#6 Marcr1

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Posted 23 September 2012 - 10:41 AM

When I passed at 17 I went for a brand new fiesta and most of my friends in the same area as me went for 10 year old + cars.

I paid 1300 and everyone else was at least 2000

#7 Marcr1

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Posted 23 September 2012 - 10:42 AM

It could also be its easier to repair new cars?

#8 FordLuke

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Posted 23 September 2012 - 02:53 PM

Hey lads, thanks for the replies. Yeah, I think it's true the newer the car the cheaper the insurance because of safety etc. When I passed at 18 the 1996 1.2L was a whopping £2500 for fire and theft insurance. Absolute joke. My insurance on the 2007 1.25 is still bad at £1800ish but that's fully comp.

Hmm, I'm really interested in doing this now. I bought my car at about £4.5K so would it be fair to say it'll be worth no less than 3K now? I've only put about 4000 miles onto it and its had no problems. I bought it from a Ford garage which could be useful as they have the newer version I want but at 12K so I wouldn't know how they'd approach it. Decisions...

#9 JonM

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Posted 23 September 2012 - 06:44 PM

3K deposit on Ford Options I'm sure would be fine... You can get one with no deposit. I got my Metal on options with only a little more deposit in comparison of car cost.

#10 MRC89

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Posted 24 September 2012 - 05:26 PM

The Mk7 is on average 2 (old) insurance groups lower than the Mk6 like for like. Example: Mk6 Fiesta highest insurance group 8 (excl. ST), Mk7 spans between group 4 and 6, on the old 1-20 insurance grouping.
I had finance on my Fiesta Zetec S, but I picked it up 2nd hand (6k miles) for £10,000 from motorpoint with repayments of £190 per month with a £2,000 deposit. If it's what you want to do then I'd say go for it, if you can't afford a brand new one look into places like motorpoint/carcraft etc which sell partly used cars. Just make sure you can afford the insurance on top of the finance repayments, shop around insurers and look at different engine sizes/trim levels til you find something that suits you.

Some info to take into account if you're not already familiar: http://www.carpages....iesta-guide.asp

#11 Marcr1

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Posted 24 September 2012 - 08:55 PM

Carcraft???? I'd never buy a car from there!

#12 jimrex

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Posted 25 September 2012 - 12:30 PM

At the end of the day, I don't think many people walk into a dealership and pay for a new car in full there and then. If you can afford the deposit (or can part-ex your Fiesta), and can afford the monthly payments, why not go for it? You'll be driving a brand new car, with a three year warranty and not have to worry about MOTs, paying for any big bills if something goes wrong, tyres for a while etc.

On the newer model, the tax, insurance, servicing and overall running costs will be improved as well. And I believe with Options, although you never actually own the car, you can hand it back after the finance period and start again... provided of course you have been saving for the deposit on the next one ;)

I had no idea when I bought my Fiesta as it was my first brand new car, but you'll find the dealers are more than happy to help (anything for a potential sale!). Just shop around, no two dealers will offer the same deals - I bought my Focus in Leeds because they could offer nearly a grand less than my local dealers, and also offered more for my trade in.

#13 FordLuke

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Posted 11 June 2013 - 10:10 PM

Sorry for the bump but I didn't want to create a new thread!

 

I lost one of my black trims last week so have had to buy a new set of 4. They came today and I put them on and don't really like them. :( They are black and white and do not go with the red car at all (I don't think). Now they're on though I can't get a refund. If I ever did turn round and sell the car (back to my Ford dealer presumably) would I be better off buying a set of Ford trims off ebay (like so  http://www.ebay.co.u...7516#vi-content) before hand and also ripping off my ford badge stickers? 



#14 JoeZS19

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Posted 12 June 2013 - 07:03 AM

FordLuke I guess you could change the wheel trims back to ford ones as dealers tend to prefer cars as standard when traded in, but as theyre only trims they might not be as bothered as if they were after martket alloys.

 

I pay finance on my fiesta ZS, I px'd my mk6.5 ZS and pay a monthly payment which once you start paying you dont really notice it  going out to be honest. I will say though that the mk7 fiestas are a big improvement on the mk6 :) so you wouldnt be dissapointed.

 

Would you be looking at finance or options? As with my finance i dont have an end payment as the finance covers the remaining cost on top of my Px, where as i beleive the options normally has a final payment or you can hand the car back if you dont want to pay it



#15 Steve92

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Posted 12 June 2013 - 08:02 AM

@ Joe, yours would be something like ford Acquire and not a PCP like options, in these instances is often cheaper to go to a bank as the interest rates are lower and you can sell the car as and when you want as there is no finance secured against the car. Always look at the amount of interest paid, not just the APR. At the minute Ford quote 4.9% on a PCP, this works out at £1500 in interest against a 10k loan, borrow that amount from the bank and you will pay £700 in interest.

 

Going back to the wheel trims, I doub't they would bother, providing they looked silver then they would be happy. What i would say though is cheap trims do not tend to be made of much and do fall off, so whilst 1 might might be cheaper by the time you have replaced 3 it works out more expensive.



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