[nickl52]

Any advice on the best way to finance my new Kuga? The Focus i own now was paid for with a bank loan, but someone has said to try Ford Options which can be done over 2 years (4.9%apr) or 3 years (7.9%).Have people had much experience with these options?


Cheers!

 

[chriswt]

I've just Ford options twice before back in the late 90's and it was great. The apr was about 7% but the 4.9% rate is excellent. It's definately the best way to go at the moment considering you don't have to worry about a deposit.





The best part about Options is you can just give the car back after two years rather than have to worry about selling it privately.

 

[BigG]

I have reservations about the PCP's. They are great if you want to change your car every 2/3 years or so without ever wanting to own one outright. If you do want to purchase it at the end of the 2/3 year period you'll find therecan be quite a hefty lump some to pay out. Watch out also for the annual milage payment should you want to hand it back + what the dealer calls 'fair wear and tear'.







It works well for some people but please read the small print first, i only say this as my current car is on a PCP and it's gonna cost me a small fortune to hand it back. (£600 + for milage + it will need to be M.O.T'd and taxed just before it is handed back. I will never have another one of these contracts.


For the Kuga i ordered i made sure i saved up a fairly big deposit and got a bank loan for the rest which means i own the car outright from day one,which suits me better as i'm not tied into any contract with the dealership.



All said and done it is what ever you can afford and which best suits your personal needs. Good luck with what you decide, either way you'll end up with a Kuga and that's got to be the real deal...



G
Edited by: BigG

 

[ilove1981]

It may sound obvious but most peoplecan avoid additional mileage charges by knowing their annual mileage! I know I do 15k miles a year, so there was no point in accepting an Options deal based on 12k. I chose 18k miles per year instead and I will never go over that. I admit that the jump from 12k-18k is quite big - andI don't know if there's anything higher than 18k either.


The 4.9% APR deal at the moment must be almost unbeatable. I know I'll have a lump sum to pay at the end, but the next two years are the lowest interest payments I can make towards the car. The difference between the 2-year and 3-year Options would have beensomething like £1200 in interest alone.

 

[BigG]

It may sound obvious but most peoplecan avoid additional mileage charges by knowing their annual mileage! I know I do 15k miles a year, so there was no point in accepting an Options deal based on 12k. I chose 18k miles per year instead and I will never go over that. I admit that the jump from 12k-18k is quite big - andI don't know if there's anything higher than 18k either.


The 4.9% APR deal at the moment must be almost unbeatable. I know I'll have a lump sum to pay at the end, but the next two years are the lowest interest payments I can make towards the car. The difference between the 2-year and 3-year Options would have beensomething like £1200 in interest alone.

Well i'm not on an options package as i don't own a Ford at the moment and my fixed annual milage is 6k and they wouldn't budge knowing full well i did more,i'd never had a PCP before and was told it was the best for me at the time,of course i totally disagree with that now as it seems to be in the dealers interest. Like i said before it's whatever suits the individual and i personally will not be having another one.

 

[Raymondo111]

You might find that there are similar low rate deals on Ford Aquire which is conventional HP offered by Ford Credit. I checked the Ford Website but it only seems to quote Options APR of 4.9%


Raymondo