Is this fiesta ST worth it?

[Afromonk]

jamesters said:

yeah it is crazy money for sure, only because has extra body trims and bigger alloys :/ so stupid prob be cheaper get lower end one and mod it haha, thanks for your input, i feel the same lovely car and really like it but for 11k it feels massively over priced and by time i finished paying it off id of paid total of £13.500 for it because of the extra £2000 interest, this ecoboost st i doubt these cars will live a long life like the old cars, were a few £7000 fiesta which are prob more in budget

Forget the fiesta and whatever the missus wants, what do you want out of a car mate?
Going to be a ton of options depending on what you need it for.

[jamesters]

nice car downside for me is i need 5 doors as we have a child but i totally agree there are better deals about, just over pricing it because 5 door zetec s really, but as you say only a year old, yeah hard to tell if would stretch us on the cost, £159 a month is not to bad but deposit and extra insurance is main killing point at the moment plus was additional £350 incase ever got written off you get the original value back not the market value later on when it goes down in price.

[mcg_]

Ignoring if the car is a good price or not, you keep saying how much of a push it'll be to get this car.

If you're having concerns now, don't do it. The novelty of this car will wear off after a week. Get something you will feel comfortable buying and leave you some spare money to have a meal out etc

[SCEtoAUX]

Madness to buy that if it's a financial stretch. Others have said so, I'm telling you as well.

£5-£6k buys a great many decent cars, certainly all the car most people will ever need.

Like others on here I'd go for petrol/Japanese, and if you want a car that size then look no further than a Honda Jazz or Toyota Auris/Yaris.

[pidsy]

Spend less on a car!

You don’t need to spend that much whilst simultaneously getting raped by the finance company!

[nmd87]

Don't do it.

[GreatGranny]

jamesters said:

nice car downside for me is i need 5 doors as we have a child but i totally agree there are better deals about, just over pricing it because 5 door zetec s really, but as you say only a year old, yeah hard to tell if would stretch us on the cost, £159 a month is not to bad but deposit and extra insurance is main killing point at the moment plus was additional £350 incase ever got written off you get the original value back not the market value later on when it goes down in price.

If you are talking £350 on Gap insurance that is way too much.
Go online and you'll get it for less than half that.

But I wouldn't be buying that car anyway if it's a stretch and with a kid.

You can get a newer shape Focus for under £5k which has more room than a Fezza and would be ideal for a family car.

[TwistingMyMelon]

NO

stretching yourself on a overpriced small car when you have a child - get a grip man

[johnnyBv8]

jamesters said:

the wife is begging me to get the car said she love me more if i do, tough choices huh

As everyone else is saying, don't over-stretch yourself on something very average. Spend half as much and you still have loads of choice but with less financial pressure. If your wife is too materialistic or dim to see this, you've perhaps made a bad wife selection

[MrBarry123]

SCEtoAUX said:

£5-£6k buys a great many decent cars, certainly all the car most people will ever need.

.

This. This. This. This. This.

OP - it's a Fiesta. A nice Fiesta. But still a Fiesta. Please don't stretch yourself financially for it.

[davamer23]

Mr2Mike said:

I don't think the car is badly priced for a dealer, it's only a year old after all, and they are pretty good cars. However it simply isn't worth stretching you finances to the limit to own it (or to borrow it for 4 years). Have a look around, you can pick up late Zetec-S Fiestas for much less e.g. 2016 31k 125PS Zetec-S £6795

How did you manage to find a really bad example of a “better” buy out of the thousands of fiestas available?

[Deep Thought]

jamesters said:

So im quite keen on this Ford Fiesta ST but few things unsure on, its 2017 car thats done 22k in 1 year sold at a dealership, (high milage for 1 year use) also its priced at £11,000 finance options at 1.6k deposit then £164 a month with 4k final payment after 4 years. my income would just about cover it....even though not sure how id pay off final 4k in 4years. other thing about the car is its 1.0 litre (guess they all are now right?) with 140 ps. confused with all this 1 litre stuff now i guess its world of eco crap, my current car is 1.3 to me seems nuts its lower when i was younger always bragging with ya mates what spec car you had , the wife is begging me to get the car said she love me more if i do, tough choices huh

Total amount payable on the car = £1,600 + £164 * 48 + £4,000 = £13,472.

Thats a BIG interest rate and a BIG amount of interest. Plus a BIG baloon to pay.

Borrow the same amount from Cahoot @ 2.8% APR over 5 years @ £167 a month and no final payment. Total payable = £10,099 + your deposit = £11,699.

https://www.money.co.uk/loans/unsecured-loans.htm

At the end of year four instead of owing £4,000 you'll only have £2,000 to pay which is much more palatable and you can just continue the payments.

[Mr2Mike]

davamer23 said:

How did you manage to find a really bad example of a “better” buy out of the thousands of fiestas available?

Because I looked at the price and missed the Cat S The point still stands, much better value around.

[DomesticM]

Funnily enough, I'm in a similar position as you apart from me contemplating an actual Fiesta ST. Problem is that these finance deals look too good to be true - which means they normally are. I work at a dealer myself and quite a few people get caught out by it. What advice I've taken on is that if you're having doubt about affording it normally means you can't. Don't put all of your eggs in one basket. ALWAYS try and get a loan out so if st does hit the fan then you can sell the car and pay off part/all of the loan.

I know what it's like to be young and wanting a nice new shiny car but don't push yourself otherwise it could mess you up for the rest of your life.

[jamesters]

thanks for all the advise on here me and my wife came to same conclusion we kinda feel we most likely could afford it with deposit and £150 a month over 4 or 5 yrs if there was 0% interest i guess asking the dealer for that be massive long shot haha, i turned them down today on the car but soon big boss above sales guy i was talking to rang me leaving a voice message asking me ring back "so we can keep this deal alive" madness lol clearly they are struggling to sell it purely because the insane amount of interest over the years of paying it off while the car loses value.

[pidsy]

jamesters said:

thanks for all the advise on here me and my wife came to same conclusion we kinda feel we most likely could afford it with deposit and £150 a month over 4 or 5 yrs if there was 0% interest i guess asking the dealer for that be massive long shot haha, i turned them down today on the car but soon big boss above sales guy i was talking to rang me leaving a voice message asking me ring back "so we can keep this deal alive" madness lol clearly they are struggling to sell it purely because the insane amount of interest over the years of paying it off while the car loses value.

The only insane thing happening is that you are still even thinking about it.

[DomesticM]

jamesters said:

thanks for all the advise on here me and my wife came to same conclusion we kinda feel we most likely could afford it with deposit and £150 a month over 4 or 5 yrs if there was 0% interest i guess asking the dealer for that be massive long shot haha, i turned them down today on the car but soon big boss above sales guy i was talking to rang me leaving a voice message asking me ring back "so we can keep this deal alive" madness lol clearly they are struggling to sell it purely because the insane amount of interest over the years of paying it off while the car loses value.

They're not struggling to sell it, they just want you to take a plunge on a car you clearly can't afford - all they're thinking about is a nice tidy commission for themselves. Trust me, you would have to be insane to take that deal but you're obviously not really taking anybody's advice on here as we've all told you not to but you keep commenting about going through with it. Ultimately it's your decision but you will be making a BIG mistake.

[Angpozzuto]

It's easy to say we can just about afford something but what happens when life doesn't go along with your plan and you end up with an unexpected bill? I've been there and done it, it wasn't fun trying to grab all the overtime and private work I could just to make ends meet. I wouldn't recommend that to anyone

[Deep Thought]

DomesticM said:

jamesters said:

thanks for all the advise on here me and my wife came to same conclusion we kinda feel we most likely could afford it with deposit and £150 a month over 4 or 5 yrs if there was 0% interest i guess asking the dealer for that be massive long shot haha, i turned them down today on the car but soon big boss above sales guy i was talking to rang me leaving a voice message asking me ring back "so we can keep this deal alive" madness lol clearly they are struggling to sell it purely because the insane amount of interest over the years of paying it off while the car loses value.

They're not struggling to sell it, they just want you to take a plunge on a car you clearly can't afford - all they're thinking about is a nice tidy commission for themselves. Trust me, you would have to be insane to take that deal but you're obviously not really taking anybody's advice on here as we've all told you not to but you keep commenting about going through with it. Ultimately it's your decision but you will be making a BIG mistake.

+1

Its a commission to the salesman and another car sold for the dealership and a nice big finance kickback from the finance company, thats all.

If they dont sell it today or tomorrow they'll sell it next week.

[jamesters]

yeah i am not buying it i have taken people advise its got 10.9% interest on it which is insane for 2nd hand used car on 22k miles