to do it or not to do it.... (new ford)

[cj2013]

So since the puma broke my heart by being a biodegradable failing thing that it was, I've been going round in a 1.4 diesel 206. Decent on fuel, cheap road tax and isn't bad looking at all.

I've spent quite a bit replacing pretty much all the suspension and what not, but it still needs some work in order to be okay - namely the comm 2000 stalk unit (common fault), injectors are worn and it's quite noisy and the clutch is just starting to slip in higher gears (4th to 5th) although it's not done it very often at all.

I work for Ford, so I can get £1700 off a Fiesta anyway, plus an extra £750 if I went through Ford Finance with a PCP option. Benefit is that you can swap for new by the 2 year mark, sometimes sooner, and there's a decent chance that there's going to be positive equity over the Guaranteed Future Minimum Value.

So, essentially, depending on the car it'd be possible to get a new brand fiesta for around £100-150 pcm with a pretty small deposit.


I'd be happy with a KA if it wasn't a fiat 500 derived car that's no more of a ford than the name and not much else. They also seem to cost more than Fiestas, probably due to the JV with FIAT.


So, i'm not sure whether to keep the 206 and run it into the ground, or to look at getting a Fiesta. I've never had a new car, or anything newer than say 7 or 8 year old, but the new fiesta doesn't excite me. I get to drive new cars with work when I need to travel, but it's mostly a Focus - most of which I've not really been 'excited' by either.

There's unlikely to be a new fiesta (beyond the mk8.5 we're on now) until 2017 at the earliest, so residuals shouldn't be too bad in 2 years time.

Any thoughts? :?

 

[crystalpuma]

Getting a (brand) new car is very expensive given the depreciation. Therefore it's only worth doing if you really really really want a brand new car! That's just my opinion, but might help?!

Only spend the money if it excites the hell out of you, otherwise you will resent the money you spent!

 

[red]

I'm with Vix.

 

[oilburner]

I've just bought a 2 year old Fiesta for £8k, I get the Ford privilege too and the equivalent new Fiesta would have been £12k, mine looks,feels and drives like a new one and I couldn't be happier

 

[cj2013]

Getting a (brand) new car is very expensive given the depreciation. Therefore it's only worth doing if you really really really want a brand new car! That's just my opinion, but might help?!

Only spend the money if it excites the hell out of you, otherwise you will resent the money you spent!

It'd be PCP with FF - so it's depreciation free, in a way; you'd pay £100 odd a month and essentially you'd be gambling on having positive equity to put forwards when you swap for another. They have a guaranteed future value of £6k after 2 years, so in theory you'd potentially have a good chance of positive equity.

I guess you can always offset the value of a manufacturer warranty against some depreciation, anyway.

I've just bought a 2 year old Fiesta for £8k, I get the Ford privilege too and the equivalent new Fiesta would have been £12k, mine looks,feels and drives like a new one and I couldn't be happier

Most Zetecs are around £12k list, but you can get a zetec with privilege and ford finance discount for less than £9k. Considering the haggle factor, I reckon it's entirely possible to get either extras for that price or further discount.

As per below:

I'm swinging like a pendulum at the moment between being all for it, to thinking I'll just keep the 206. I quite like what I've seen of the new Ka so far, so might just wait a year or so for that and pay some bills/save until then.

 

[oilburner]

Mines a Zetec S with most of the factory options and Frozen White paint,if you had it 2 years you basically be paying out over £3000 (plus fuel,insurance,servicing etc) to essentially hire a car well worth thinking about

 

[Midnight Blue]

If you want something that is even more fun to drive than a Puma, go for the new Fiesta ST

 

[cj2013]

If you want something that is even more fun to drive than a Puma, go for the new Fiesta ST

I'd considered it, but Essex is a complete nightmare and it's like the whole road system is designed to extract money from drivers or work towards getting them banned. That, combined with the shocking state of the roads, would mean I'd probably never get to enjoy it.

If I lived in Wales again it would be a no-brainer, but an ST around here would be no more use than a 1.0 na.

 

[cj2013]

Had an email in work today saying that Ford Credit will put an extra £500 deposit contribution towards a new Fiesta ordered in November.

That's £1250 deposit contribution and £1700 off Zetec or higher spec. £2950 total.

Not sure how long I can resist.

 

[Midnight Blue]

with the shocking state of the roads, would mean I'd probably never get to enjoy it.

They are horrendous! I ruined the edge of one of my alloys on an Essex pothole :evil:

 

[Bentleya]

Not sure what part of Essex you guys are talking about, but plenty of decent roads in the Chelmsford and surrounding area.

 

[cj2013]

Not sure what part of Essex you guys are talking about, but plenty of decent roads in the Chelmsford and surrounding area.

I'm in good old Baz at the moment.

Although I left for work at 7.15am this morning along a now-the-norm crap road that would look gnarly at MIRA, and by the time I drove back at 4.20pm it apparently had been resurfaced.

There's areas round here that would need no pre-production or extras for filmg 28 days later, mind.

 

[Neil]

Just a word of warning - I did the whole PCP thing with a Mini Cooper S many moons ago. It's great if you are 100% sure the car is for you, don't mind the fact you don't actually own the thing and aren't bothered about being restricted to a limited mileage.

I realised about six months into my agreement that I really didn't like the car at all, but had no way of getting rid as I was tied into the agreement until I could reach the voluntary termination point (when you've paid 50% of the agreed cost). I hated those two years with a passion - it's well documented on here!

For some folks it works fine, but for an enthusiast who tends to suffer with 'Itchy V5 syndrome', I wouldn't recommend it.

 

[cj2013]

Just a word of warning - I did the whole PCP thing with a Mini Cooper S many moons ago. It's great if you are 100% sure the car is for you, don't mind the fact you don't actually own the thing and aren't bothered about being restricted to a limited mileage.

I realised about six months into my agreement that I really didn't like the car at all, but had no way of getting rid as I was tied into the agreement until I could reach the voluntary termination point (when you've paid 50% of the agreed cost). I hated those two years with a passion - it's well documented on here!

For some folks it works fine, but for an enthusiast who tends to suffer with 'Itchy V5 syndrome', I wouldn't recommend it.

Appreciate you sharing your experience, but I'd be looking at a different type of finance. With work I can get just under £3k off a car before deals/discounts. That amount is sliced right off the top.

Then, you take the value the car will be worth in 2 years time. The difference between the two valuations (purchase cost after discounts and 2 year value) is spread over 24 months. Any time after 9 months (due to work discount, not finance) I can sell/part-ex and so on.

The general jist is that there's a good chance that either I'll completely avoid 1st owner depreciation and/or end up in positive equity at some point within 24 months.

 

[oilburner]

I take it it's on Ford Options which is a PCP plan. Yes you can change it after 9 months but Ford Credit will add that value after 2 years straight back on to your settlement figure because you're terminating the agreement early
Look at the example above, the total amount payable is £10,030 which after paying £129 a month for 9 months leaves you with a balance still to pay of £8869 so unless they give you a part ex figure of over that you'll be in negative equity. The only time you don't have to pay that balloon payment is if the car is worth less than the MGFV at the end of the term

 

[cj2013]

I take it it's on Ford Options which is a PCP plan. Yes you can change it after 9 months but Ford Credit will add that value after 2 years straight back on to your settlement figure because you're terminating the agreement early
Look at the example above, the total amount payable is £10,030 which after paying £129 a month for 9 months leaves you with a balance still to pay of £8869 so unless they give you a part ex figure of over that you'll be in negative equity. The only time you don't have to pay that balloon payment is if the car is worth less than the MGFV at the end of the term

There'd be an extra £500 off on top of that, and that's an expensive example - you can get better deals. (hence what tempted me further). Some of the 1.25 Zetecs work out around £80-90 pcm with the extra £500 and what not.

The 9 month thing is purely hypothetical, but for case of comparison an 18 month old 1.25 zetec is about £9k in forecourt price so wouldn't be a massive stretch.

I may still go for the 'only live once' thing and go the ST route.

 

[cj2013]

Look what these shitheads have done.... talk about trying it on..

Before the November £500 discount...

After November £500 discount....

Basically, they're pocketing more than a customer would from the £500, based on that deal