Finance People

[Jimboy2]

When were you called in to sort the finance out and pay the deposit.

I know I have a long way to go yet but my dealer said a few months before delivery he will call me in to sort deposit and finance agreement.

Also what deal did you get? Is it only the one laid out in the website? I have done their calculator and with 10k down over 36 months with 12(?)k mileage it was 340 ish a month. Should I take this calculator as gospel? Or will it likely change?
Shame there isn't a 0% deal

What are your plans at 3 years? Hand back and walk? Trade in for newer model? Finance the balloon payment? I know it's difficult to say as most of our cars don't even exist yet!

1st time I have pirchased a car on finance since 2003 on a 1.2 Clio. I was 18 at the time and not very sensible. Just remember it costing me a lot of money in the end.

Thanks!

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[Timewarp]

I'm wondering about this as well.

Before I seriously thought about the Mustang I was thinking to go on to finance permanently and get a new car every 3 years.

Suppose I could still do that it the real value in 3 years is enough above the Optional Final Payment to get a decent deposit on a new car.

I wonder if this will solve my EB/GT dilemma.... get an EB now and change to GT when it comes to refinance?

 

[Jimboy2]

That's if ford refresh the Eu mustang as frequent as the US. Seems they would be stupid if they don't as it looks like it may be a good seller.
The ballon payment is 17k I believe? So I guess that's the min that ford would take it back. So in theory I would need it to be worth 27k privately to jump into a new one with the same deal right? Can't see that happening.

 

[Timewarp]

That's if ford refresh the Eu mustang as frequent as the US. Seems they would be stupid if they don't as it looks like it may be a good seller.
The ballon payment is 17k I believe? So I guess that's the min that ford would take it back. So in theory I would need it to be worth 27k privately to jump into a new one with the same deal right? Can't see that happening.

Yes, that's right. It wouldn't be the same deal - either more monthly deposits or you'd need a deposit plus your difference.

 

[SamH_]

When were you called in to sort the finance out and pay the deposit.

I know I have a long way to go yet but my dealer said a few months before delivery he will call me in to sort deposit and finance agreement.

Also what deal did you get? Is it only the one laid out in the website? I have done their calculator and with 10k down over 36 months with 12(?)k mileage it was 340 ish a month. Should I take this calculator as gospel? Or will it likely change?
Shame there isn't a 0% deal

What are your plans at 3 years? Hand back and walk? Trade in for newer model? Finance the balloon payment? I know it's difficult to say as most of our cars don't even exist yet!

1st time I have pirchased a car on finance since 2003 on a 1.2 Clio. I was 18 at the time and not very sensible. Just remember it costing me a lot of money in the end.

Thanks!

I was called in a week before it arrive to sign the finance paperwork, and then paid the remainder of my deposit when i picked it up.

as for what deal i went with i went with the 4 year Aquire plan which means in 4 years it is 100% paid off.

You should be able to find prices for the 24 and 36 month options deals as well as the 48 month Aquire plan on thier calculator, depending how long you plan to keep the car depends on what suits you best.

My deal was 48 months at 7.2%
Total finance amount was £36k
i put down £10k and my payments are around £600 a month. with nothing left to pay after 4 years.

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[Jimboy2]

I was called in a week before it arrive to sign the finance paperwork, and then paid the remainder of my deposit when i picked it up.

as for what deal i went with i went with the 4 year Aquire plan which means in 4 years it is 100% paid off.

You should be able to find prices for the 24 and 36 month options deals as well as the 48 month Aquire plan on thier calculator, depending how long you plan to keep the car depends on what suits you best.

My deal was 48 months at 7.2%
Total finance amount was £36k
i put down £10k and my payments are around £600 a month. with nothing left to pay after 4 years.

Sent from my SM-G925F using Tapatalk

I can't quite afford the aquire. My deposit is tied up in the car I have for sale at the moment, and the payments are exactly the same as the loan I was paying for it that has just finished, which is what swayed me to get the mustang.
I would like to think I would keep it for way past the 3 years but you just never know.

 

[SamH_]

Fair enough, i know most dealers offer a finance for that final settlement after the 3 years however the interest rate is normally a lot higher, when i was looking into that option i figured a bank loan would be a better way to pay that final sum because the interest rates are better but they can't be garenteed

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[Jimboy2]

Fair enough, i know most dealers offer a finance for that final settlement after the 3 years however the interest rate is normally a lot higher, when i was looking into that option i figured a bank loan would be a better way to pay that final sum because the interest rates are better but they can't be garenteed

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Yeah that's the plan. Should be able to get a decent rate from my bank come 3 years.

 

[j-rowe14]

Ford are offering 5.8% APR on 2 years and 3 years on Mustang this quarter. PCP options and Acquire are being offered and also Ford Lease is available.

 

[Manders Mustang]

Ford are offering 5.8% APR on 2 years and 3 years on Mustang this quarter. PCP options and Acquire are being offered and also Ford Lease is available.

Benefits of having a clued up and involved dealer on the forums, someones getting a hefty bonus when the boss finds out that you're going above and beyond (slightly OT as referring to other threads you've posted in).

I'd looked into finance, and then realised that I can pay cash for the car, so i'm just doing that instead

 

[j-rowe14]

Benefits of having a clued up and involved dealer on the forums, someones getting a hefty bonus when the boss finds out that you're going above and beyond (slightly OT as referring to other threads you've posted in).

I'd looked into finance, and then realised that I can pay cash for the car, so i'm just doing that instead

Thanks Manders. Well I like being active on the forums!

 

[Lone Survivor]

Sainsbury's are doing 3.4% for loans up to £20k over 3 years, works out @ £500 odd a month. So if you can stretch your deposit, it's a cheaper way to buy.

 

[j-rowe14]

Sainsbury's are doing 3.4% for loans up to £20k over 3 years, works out @ £500 odd a month. So if you can stretch your deposit, it's a cheaper way to buy.

Different companies will offer different finance rates. This is just what Ford are offering at the moment. Its up to people to decide which finance plan works well for them.

 

[Lone Survivor]

Different companies will offer different finance rates. This is just what Ford are offering at the moment. Its up to people to decide which finance plan works well for them.

Yeah, I'm aware of that, some people might not know though. What I do know from 35 years of buying cars is that more than often, unless there's a 0% offer on, dealership finance is more expensive than a bank personal loan.

I'm sure that works well for just about everyone.

 

[j-rowe14]

Yeah, I'm aware of that, some people might not know though. What I do know from 35 years of buying cars is that more than often, unless there's a 0% offer on, dealership finance is more expensive than a bank personal loan.

I'm sure that works well for just about everyone.

It isn't always the case that dealership finance is more expensive.
Ford are offering finance that is better than 0% on other vehicles in the Ford range.

Also dealership finance is on the car and you have lots of rights as a consumer taking this sort of finance. This is because of the credit consumer directive.

Thanks
James

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