Is this a good deal on a Focus ST3

[D1bram]

I'll keep this brief as possible...

Just bought a house so not really in the market for a new car.

Helpful Ford dealer however has suggested I go onto a PCP and free up the equity in my 2014 focus TDCI titanium. To be honest, I've been hankering after something with a little performance for a while.

They've source a brand new Tangerine Scream car with appearance pack and premium Sync.

Deal is they take in my 96,000 mile car, I get £3k cash back and the brand new ST. My current £375 payment becomes £370 over the next 3 years.

New, better car with 0 miles, full warranty and some cash in my pocket to spend on the house? Sounds good, but I'm keen not to be fooled here.

I have £1500 of finance outstanding and WBAC offered me £5350 for it.

Looks good against lease offers.

[steve-5snwi]

not sure if thats special or not .....

http://www.evanshalshaw.com/new-cars/ford/focus-2-...

it doesn't have any extras but it £40 per month cheaper.

[D1bram]

Cheers, that's only 6000m/year though.

My deposit is effectively £1200 and I'm paying £370/month. But I'm getting £1500 of extras and doing 15k pa.

[daemon]

D1bram said:

I'll keep this brief as possible...

Just bought a house so not really in the market for a new car.

Helpful Ford dealer however has suggested I go onto a PCP and free up the equity in my 2014 focus TDCI titanium. To be honest, I've been hankering after something with a little performance for a while.

They've source a brand new Tangerine Scream car with appearance pack and premium Sync.

Deal is they take in my 96,000 mile car, I get £3k cash back and the brand new ST. My current £375 payment becomes £370 over the next 3 years.

New, better car with 0 miles, full warranty and some cash in my pocket to spend on the house? Sounds good, but I'm keen not to be fooled here.

I have £1500 of finance outstanding and WBAC offered me £5350 for it.

Looks good against lease offers.

How much are you paying for the ST after discount?

Have you considered the impact of say, 25mpg against maybe 50mpg you're getting at the min?

Has your mileage went down as the mileage on your current car is high?

Edited by daemon on Wednesday 29th November 12:34

[GreatGranny]

Sell your Focus, pay off finance, buy cheaper car with difference then you have £370 pcm to spend on the house and no finance.

That's what I would do but maybe I'm old and boring.

[daemon]

GreatGranny said:

Sell your Focus, pay off finance, buy cheaper car with difference then you have £370 pcm to spend on the house and no finance.

That's what I would do but maybe I'm old and boring.

If hes paying £375 pm and only owes £1500 he could continue to pay it off for the next four months and keep it, then spend the money on the house and no finance. Better the devil you know and all that.....

[Begall]

I checked DTD and with the extra's noted, 15K miles per year, £1200 deposit & 3 year finance it comes out at £318/month - or a saving of roughly £1,820 over that time

Edit: Wonder how many sales car dealers close by playing around with the finance terms & deposit until they get to a number slightly below the current payment, but for a new car

[daemon]

Begall said:

I checked DTD and with the extra's noted, 15K miles per year, £1200 deposit & 3 year finance it comes out at £318/month - or a saving of roughly £1,820 over that time

Edit: Wonder how many sales car dealers close by playing around with the finance terms & deposit until they get to a number slightly below the current payment, but for a new car

I have to say that makes me suspicious too. A bit "too convenient" that the dealers "best deal" just happens to be a few pounds under the current monthly payments.

[D1bram]

Begall said:

I checked DTD and with the extra's noted, 15K miles per year, £1200 deposit & 3 year finance it comes out at £318/month - or a saving of roughly £1,820 over that time

Edit: Wonder how many sales car dealers close by playing around with the finance terms & deposit until they get to a number slightly below the current payment, but for a new car

Really? I looked earlier and could get it nowhere near that!!! I'll take another look thanks.

To answer a few other questions;

1. I do loads less miles than I used to now.
2. Original plan was to keep this car for a short while after it was paid off, but change before too long - in the scheme of things I'm happy paying £370ish for a new car.
3. The 'cash back' to spend on the house is a bit of a bonus really, I'm not desperate or skint, but a nice to have.

[JXN1990]

Shop around a bit on CarWow to see what you could get. I almost traded in my Fiesta ST for a Focus a few months back and I was looking at about £320/month with no deposit.

Ford are offering 0% finance just now as well so you can definitely make that deal work better for you.

[esxste]

Look at the lease deals thread.

There's cars like the Golf R and Leon Cupra 300 with similar performance to Focus ST, but at 250-ish a month.

The question is total cost after X years; will you buy the ST when the PCP deal ends (i,e pay the balloon), or will you collect whatever equity is left and go into a new PCP deal?. (And bear in mind Focus' are due a refresh in next year or so, so you'll be offloading a 45k miler old style focus)

Also, if it were me... I'd be tempted to stick the money into a deposit to get a similar PCP monthly payment on a Focus RS.

[GTIAlex]

Over 300 is daft money for a Focus ST.

[D1bram]

I honestly am not seeing the deals you lot talk about... not on 15k miles?

I really fancied an RS.. but think it's just too much of an indulgence really, adding in the extra running costs etc...

[tallpaul26]

You should be able to get 16% off list price on a Focus ST without too much effort. I reckon in the run up to Christmas you could squeeze nearer 20% out of them.

[tallpaul26]

Drive the deal are giving 17% off list. This includes the £1,000 deposit contribution from Ford.

So, based on a RRP of £29,350 for an Orange ST3 with Style Pack and Premium Sound, you are looking at about £24,500 to finance.

Deposit = £1,200
Final Payment (based on 15k PA) = £10,758
Financed amount = £12,542

Monthlies come out at 36 x £348 @ 0% APR.

So, no the deal is not great. It's costing about £800 more than you could achieve from another dealer assuming the same p/ex value for your current car.

[IanCress]

Like all PCP's, it sounds great at the start - you get a brand new car for the same price as your old one, but it looks like you'll have a £15k final payment at the end of the 3 years.
With just £1500 to go on your current vehicle, i'd wait until that is paid off (6 months?), then re-assess your situation. You'll have more options open to you once you're free from the finance agreement on your current car, and it makes it much easier to work out where your money is going, without the smokescreen of cashback and paying off outstanding finance.

[daemon]

IanCress said:

Like all PCP's, it sounds great at the start - you get a brand new car for the same price as your old one, but it looks like you'll have a £15k final payment at the end of the 3 years.
With just £1500 to go on your current vehicle, i'd wait until that is paid off (6 months?), then re-assess your situation. You'll have more options open to you once you're free from the finance agreement on your current car, and it makes it much easier to work out where your money is going, without the smokescreen of cashback and paying off outstanding finance.

I have to agree. On this occasion with the dealer using language like "cashback" and "freeing up equity" and miraculously having payments just under what the O/P has been paying on a straight finance deal is creating a smoke and mirrors situation.

[Eth2312]

Quick question, what deal did you originally sign up for on a focus @ £375PCM, HP??

To help position this: I went on Carwow the other week (looking to replace our 2015 1 series for a 3, or maybe 5 series) I've had a deal presented to me by a London based BMW Dealer which is as follows:

Brand new 320d M Sport Estate
Metallic Paint (Silver in this case)
M Performance Pack (Better brakes apparently)

Nil Deposit and £380pcm on a 4 year PCP (based on doing 10k per annum)

PCP is great if you dont wish to dip a big deposit in and the fact you'll probably replace the car at the end anyway. If you ever feel you may want to keep the car PCP if probably not the best way to go.

I always go in with the attitude this is a keeper, years later I'm itching for something new so I've come to accept a car is a cost of living to me, with no intention to own outright (usually at that point its out of warranty and breaking down anyway)

[D1bram]

tallpaul26 said:

Drive the deal are giving 17% off list. This includes the £1,000 deposit contribution from Ford.

So, based on a RRP of £29,350 for an Orange ST3 with Style Pack and Premium Sound, you are looking at about £24,500 to finance.

Deposit = £1,200
Final Payment (based on 15k PA) = £10,758
Financed amount = £12,542

Monthlies come out at 36 x £348 @ 0% APR.

So, no the deal is not great. It's costing about £800 more than you could achieve from another dealer assuming the same p/ex value for your current car.

Thanks for this, just had a very similar quote back.

I've put it to my 'friendly' dealer!

[D1bram]

IanCress said:

Like all PCP's, it sounds great at the start - you get a brand new car for the same price as your old one, but it looks like you'll have a £15k final payment at the end of the 3 years.
With just £1500 to go on your current vehicle, i'd wait until that is paid off (6 months?), then re-assess your situation. You'll have more options open to you once you're free from the finance agreement on your current car, and it makes it much easier to work out where your money is going, without the smokescreen of cashback and paying off outstanding finance.

I have 4 months to go on it, will be two when the car goes in January under the proposed deal. They're agreeing my car value now at £5200, which is what WBAC offered (less admin fee).

So there'll be £750ish left to pay on finance. I get back £3150 and the remainder goes into the deposit, £1300.

I could wait until it's finished in March, but it will be over 100k then and so depreciated further. I would also need to service and MOT it between now and then.

Will see what they come back with given that I've challenged them with the Drive the Deal quote.

Drive the Deal would be a factory order though, delivery time 16-24weeks.

Whereas this car exists and is currently waiting to be shipped from Belgium and I could have it early January.

Thanks for all the help though, I think I'm getting there.

To answer the other question, current car was bought on a 48month HP arrangement (think I put about £3k down). £375/month.