Discussion
Hi all, I have a quick q ref financing a car.
I am looking to trade my current car (07 Focus ST), for a new model. I can get a brand new top spec ST for 17k (forces discount).
Now I owe about 10k on my current car, I will probably be in +ve equity if I sell. I financed it with a bank loan.
If I were to finance the new car what would be the best way to go about this? Go with the car dealer or stick with my bank?
I have had rough estimates, if I get a new model I will continue paying what I pay now but for a further two years, so 4 and a half years in total.
What would you do?
I am looking to trade my current car (07 Focus ST), for a new model. I can get a brand new top spec ST for 17k (forces discount).
Now I owe about 10k on my current car, I will probably be in +ve equity if I sell. I financed it with a bank loan.
If I were to finance the new car what would be the best way to go about this? Go with the car dealer or stick with my bank?
I have had rough estimates, if I get a new model I will continue paying what I pay now but for a further two years, so 4 and a half years in total.
What would you do?
Ford Credit AFAIK is not as competative as they are a Finance House not a Bank. Best bet is to ask the Dealership what their rates are and then talk to your Bank. You will not get a greater discount by financing through the dealer on your car unless they are running a Finance Deposit Contribution currently which even if they are will probably not be allowed on your purchase if you are buying through an Affinity Forces Scheme.
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