I'm Sorry...what car?

[Comacchio]

So it's coming close to the end of my PCP on a MY57 Ford Fiesta Zetec 1.25 (First car, stupidly bought new - regret) and i'm looking at getting a different/new car. I went into an Arnold Clarke dealership where they offered me £4k for my 23k miles on the clock, immaculate 3 year old car as trade in for a new Fiesta Zetec S. I promptly told them where to shove it when he told me it would be £300 a month.

So now its decision time:

1) Buy the fiesta outright on a credit card then sell privately and pay off credit card bill leaving me with around £1000 for a new motor.

2) Get a loan and buy the fiesta outright then pay off the loan, keeping the 1.25 that wouldn't pull you out of bed.

3) Other.

Background info: I have around £250 a month to spend on car + insurance, had my licence for 3 years, 3 years no claims, age 20, 21 shortly and living in a 'B' class area.

Help me Pistonheads, i need some advice!

Cheers,

-Allan

[5charlie46]

what about engine conversion on your fiesta? if its a 57plate im take it that its a mk6, you can either put a 1.6 zetec in it from the zetec s or duratec it with a fiesta ST engine... im guessing this is a no but always worth considering

[Mojooo]

Can you not just keep paying the PCP til you own the car? or do they insist on someone buying it?

Personally i would buy the car and keep it

but it sounds to me like you want to sell the car and get something more powerful. if so get a loan, sell the car, pay the loan off, buy a new car.

[Jamz3k]

the 1.25 wouldn't pull you out of bed? my mum had a 2000 1.25 fiesta and it was a nippy wee engine, infact if i'm honest i found it more fun to drive that my Alfa 147 1.6.

[Comacchio]

Unfortunately an engine change wouldn't be too good on the old insurance side!

Ah, a 2000 fiesta is a much smaller car than a 2007 fiesta. The MY57 fiesta is too heavy for the little 1.25 (in my opinion)

-Allan

[TVR1]

Comacchio said:

So it's coming close to the end of my PCP on a MY57 Ford Fiesta Zetec 1.25 (First car, stupidly bought new - regret) and i'm looking at getting a different/new car. I went into an Arnold Clarke dealership where they offered me £4k for my 23k miles on the clock, immaculate 3 year old car as trade in for a new Fiesta Zetec S. I promptly told them where to shove it when he told me it would be £300 a month.

So now its decision time:

1) Buy the fiesta outright on a credit card then sell privately and pay off credit card bill leaving me with around £1000 for a new motor.

2) Get a loan and buy the fiesta outright then pay off the loan, keeping the 1.25 that wouldn't pull you out of bed.

3) Other.

Background info: I have around £250 a month to spend on car + insurance, had my licence for 3 years, 3 years no claims, age 20, 21 shortly and living in a 'B' class area.

Help me Pistonheads, i need some advice!

Cheers,

-Allan

Any equity in the Fiest? What is your MGFV? Even if you don't have any, what about a Clio GT? 1.6 128hp. 5 years 0% finance no deposit.....comes nicely under your budget, even with metallic paint.

[Ry_B]

Jamz3k said:

the 1.25 wouldn't pull you out of bed? my mum had a 2000 1.25 fiesta and it was a nippy wee engine, infact if i'm honest i found it more fun to drive that my Alfa 147 1.6.

A 1.25 Fiesta nippy? Is that meant to be sarcasm or funny ?

[Hitch78]

Ry_B said:

Jamz3k said:

the 1.25 wouldn't pull you out of bed? my mum had a 2000 1.25 fiesta and it was a nippy wee engine, infact if i'm honest i found it more fun to drive that my Alfa 147 1.6.

A 1.25 Fiesta nippy? Is that meant to be sarcasm or funny ?

They are indeed nippy. My mother has one and I'm looking forward to stealing it for a week when I'm back in the UK over Christmas. And I'm coming from a 4.6l V8!

[coley20]

Renault are offering a lease deal on a Clio RenaultSport Cup for £199 pcm and £999 down over 24 months

[HereBeMonsters]

Ry_B said:

Jamz3k said:

the 1.25 wouldn't pull you out of bed? my mum had a 2000 1.25 fiesta and it was a nippy wee engine, infact if i'm honest i found it more fun to drive that my Alfa 147 1.6.

A 1.25 Fiesta nippy? Is that meant to be sarcasm or funny ?

It's actually a very good little engine. In the Mk IV-V Fiesta it was an acceptable choice for a runabout car. Not everything has to have a stonking great motor to be fun!

[Comacchio]

TVR1 said:

Comacchio said:

Stuff

Any equity in the Fiest? What is your MGFV? Even if you don't have any, what about a Clio GT? 1.6 128hp. 5 years 0% finance no deposit.....comes nicely under your budget, even with metallic paint.

Not entirely. I'm going to either not pay the final £4500 and give it back then im left with nothing and no car, or get a loan and pay the £4500 then sell privately for around £5k (Glass's value).

I'll have a look at the Clio GT, is that straight from a Renault dealership?

[Comacchio]

Any other suggestions as to low deposit low rate finance options?

-Allan

[300bhp/ton]

Comacchio said:

So it's coming close to the end of my PCP on a MY57 Ford Fiesta Zetec 1.25 (First car, stupidly bought new - regret) and i'm looking at getting a different/new car. I went into an Arnold Clarke dealership where they offered me £4k for my 23k miles on the clock, immaculate 3 year old car as trade in for a new Fiesta Zetec S. I promptly told them where to shove it when he told me it would be £300 a month.

So now its decision time:

1) Buy the fiesta outright on a credit card then sell privately and pay off credit card bill leaving me with around £1000 for a new motor.

2) Get a loan and buy the fiesta outright then pay off the loan, keeping the 1.25 that wouldn't pull you out of bed.

3) Other.

Background info: I have around £250 a month to spend on car + insurance, had my licence for 3 years, 3 years no claims, age 20, 21 shortly and living in a 'B' class area.

Help me Pistonheads, i need some advice!

Cheers,

-Allan

Somehow someway flog the Festa and buy something faster and/or more interesting.

[frosted]

You deserve a proper telling off . Did you not think at anytime that the balloon will have to be paid ?

You wanted to keep low monthly payments on a car that you clearly can't afford , bet you was the envy of your mates for a while .

There's nothing wrong with the 1.25 engine in the fiesta , it is a quick car if you know how to drive it

[frosted]

You deserve a proper telling off . Did you not think at anytime that the balloon will have to be paid ?

You wanted to keep low monthly payments on a car that you clearly can't afford , bet you was the envy of your mates for a while .

There's nothing wrong with the 1.25 engine in the fiesta , it is a quick car if you know how to drive it

[Hitch78]

Comacchio said:

TVR1 said:

Comacchio said:

Stuff

Any equity in the Fiest? What is your MGFV? Even if you don't have any, what about a Clio GT? 1.6 128hp. 5 years 0% finance no deposit.....comes nicely under your budget, even with metallic paint.

Not entirely. I'm going to either not pay the final £4500 and give it back then im left with nothing and no car, or get a loan and pay the £4500 then sell privately for around £5k (Glass's value).

I'll have a look at the Clio GT, is that straight from a Renault dealership?

STOP. Stop right now.

Why oh why would you consider another 'deal' on a new car when this one has not worked out for you? Get an affordable loan, say the 5k that you mention, buy and sell your Fiesta (ONLY if you really think you'll make any money on it) and then buy a decent second hand motor like a 3 series or an MX5 or whatever, so long as your money is going on the quality of the car and not the newness. This is the PistonHeads way.

Depreciation is for dicks. I earn a good wage in a tax free place and I spent 10k on my last car, doubt I'll ever spend more than that again on a daily driver.

p.s in the past I have learnt this lesson the hard way; new Clio at 21, new 9-3 at 25, new Civic at 28 etc...Take my word for it and invest in some good cheap metal!

[TVR1]

Hitch78 said:

Comacchio said:

TVR1 said:

Comacchio said:

Stuff

Any equity in the Fiest? What is your MGFV? Even if you don't have any, what about a Clio GT? 1.6 128hp. 5 years 0% finance no deposit.....comes nicely under your budget, even with metallic paint.

Not entirely. I'm going to either not pay the final £4500 and give it back then im left with nothing and no car, or get a loan and pay the £4500 then sell privately for around £5k (Glass's value).

I'll have a look at the Clio GT, is that straight from a Renault dealership?

STOP. Stop right now.

Why oh why would you consider another 'deal' on a new car when this one has not worked out for you? Get an affordable loan, say the 5k that you mention, buy and sell your Fiesta (ONLY if you really think you'll make any money on it) and then buy a decent second hand motor like a 3 series or an MX5 or whatever, so long as your money is going on the quality of the car and not the newness. This is the PistonHeads way.

Depreciation is for dicks. I earn a good wage in a tax free place and I spent 10k on my last car, doubt I'll ever spend more than that again on a daily driver.

p.s in the past I have learnt this lesson the hard way; new Clio at 21, new 9-3 at 25, new Civic at 28 etc...Take my word for it and invest in some good cheap metal!

I can't disagree with your comments. However the OP wants to see what he can do to get him out of his situation.

Setting aside what is the next step, under no circumstances should the OP borrow to pay off a loan that he may or may not be able to do by then selling the car privately.

Also, avoid handing the car back. Ford will rape you for the recon charges. don't forget that the MOT is his responsibility, as well as any due servicing. 3 years term but 37 months agreement.

OP if you still can (time wise) because you will probably have got there payment wise now, Voluntarily Terminate the agreement. If you don't know what that means, ask or read your finance agreement and walk away.

Look on the bright side. The PCP (still Red carpet Options?) has worked for
you, after all.

[GreatGranny]

Return the car if you can.

get a loans for approx. £3k and get a nice 3 series etc..

[Rollcage]

TVR1 said:

I can't disagree with your comments. However the OP wants to see what he can do to get him out of his situation.

Setting aside what is the next step, under no circumstances should the OP borrow to pay off a loan that he may or may not be able to do by then selling the car privately.

Also, avoid handing the car back. Ford will rape you for the recon charges. don't forget that the MOT is his responsibility, as well as any due servicing. 3 years term but 37 months agreement.

OP if you still can (time wise) because you will probably have got there payment wise now, Voluntarily Terminate the agreement. If you don't know what that means, ask or read your finance agreement and walk away.

Look on the bright side. The PCP (still Red carpet Options?) has worked for
you, after all.

Wont the finance company rape him on his credit rating for doing this though?

I would have thought his best option is to walk away at full term and then fund a loan for something a bit more to his taste.

[Rollcage]

OP - you say the car is worth £5k, but are grumbling at a p/ex offer of £4k? Sounds like a fair shout to me. Dealers are not charities after all.