New to finance. Are Fiesta ST deals rubbish or is it me?

[swd]

Hi, so I've my heart set on an ST-3 Fiesta as a nice but totally different change from my B7 RS4. I'd like a little car to rally about in for a year or two and the high mpg / low maintenance costs are very appealing.

I've never done finance on a car before. I'm not loaded: I just like saving for stuff! This time though, the thought of having a new car and sticking a small deposit down and two hundred or so quid a month is mighty appealing, as is the ability to hand it back when I've had my fun.

Is it just me, or are the finance offers just not that enticing at the minute for the Fiesta? A few finance folks have asked me to consider a diesel Focus ST instead but that's not the car for me. I don't need the space and I have a soft spot for Fiestas. Do good offers on certain cars come and go? If I wait a few weeks will the deals get better?

Thanks!

[valiant]

Have you checked the usual brokers (drive the deal, broadspeed, etc)?

Pretty easy to get around £2.5k off RRP, which I assume includes the deposit allowance, plus according to drive the deal, finance on a PCP type arrangement is 4.2% which is pretty decent.

[swd]

Thanks very much - that gives me an idea of what is good. I didn't knwo which were the usual finance companies so I'll look into the two you mentioned.

Carwow returns a very similar deal: £2,695 off a £20,415 car (ST3 blue, style pack, spare wheel), 4.3% APR, two years.

I'm still getting grip with all the numbers involved. To measure a good deal from a bad one. I don't think the numbers above paint the full picture.

Their cash price is £18,230 which is around 10% discounted. Nice, simple, with the downside of locking cash into the car when it could used elsewhere.

Decisions decisions.

[Rick101]

Leasing an option? A mate has one and I think he only pays about £140pm.

[swd]

Hi Rick, leasing would be ideal as I could do a business lease (I'm self employed). But so far the prices are close to £300/m for 15000 miles/year for two years. Put it this way, my RS4 would cost me about the same over the same period. It need to be closer to your figure.

[tfin]

I'm looking at getting a fiesta ST sometime soon and i've noticed this too.

I think its because ford sold so many on 2 year leases when they came out and they're all now flooding the used market, pushing down the future values. Plus the fact there doesn't seem to be much in the way of deposit contributions or offers from ford at the moment either.

[jcelee]

I'm also cost conscious and decided to buy one of these 2013 Fiesta STs rather than a new one. Its a July-13 ST2 with Nav & Climate control so not missing much compared with an ST3.

In terms of sums, you can pick one up for £11,000-12,000.
Lets call it £12k for illustrative purposes.
Put £2000 down, then borrow £10k for 3 years (Nationwide as an example are offering 3.6% APR). This will cost you £293.21 per month (£10,555.56 in total). In three years time, I'd suggest the car will be worth £6000, maybe £5000 on a bad day.

Total cost over 3 years = £12,000+£555.56-£6000 = £6555.56 or £2185.19 per year.

Its a whole lot of car for that money, I stepped out of a Porsche Cayman into mine and remain mightily impressed by the driving experience with the benefit of some practicality.

[blade7]

Mrs blade7 bought a Fiesta ST2 late last year through DTD who had the lowest price then. It was less than nearly new ones from Ford dealers. The slight downside is now people carriers/white van man/1.0 Corsa's all want to have a race .