Ford S Max - Finance or not

Honest John Back Room » Motoring discussion
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Sun 19 Jul 2020 17:11
Ford S Max - Finance or not - SamNM
Hey hoping someone can advise. I’m looking to get an S Max (I’m becoming a childminder and it ticks all the boxes). The choice is to go to an independent dealer and part ex my current car and use a no interest credit card to purchase an older model (2010 being max age) with reasonably high mileage or go to a Ford Dealer and get a newer one on finance.
I can’t work out if the interest id be paying on finance is worth the added security which will come from having a newer car, with less miles from a main dealership Compared to getting an older model which I own outright. I’m presuming a ford approved used car is a safer bet but is it worth the £3000+ interest Hope that makes sense
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Sun 19 Jul 2020 17:21
Ford S Max - Finance or not - FP

I would question how the first scenario works financially. The "no interest credit card" presumably has some kind of financial limitation - i.e. the balance must be paid at some point and the interest-free period won't last for ever. Interest charges could mount up quickly. I can't believe it's the equivalent of an indefinite free loan.

To advise you, it would be helpful for us to know the detail.

A new car on finance will be expensive in the long run; dealers love this sort of thing - it makes them a lot of money.

A bank loan may well be cheaper, whether you go for a new or older car - maybe a car not as old as ten years.

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Sun 19 Jul 2020 17:28
Ford S Max - Finance or not - SamNM
Thanks for your response. The credit card is interest free for 18 months and capped at £4000 but only able to use 90% of that in one transaction. We would be able to clear the balance before the interest free period is over. We weren’t able to get a bank loan which is why we went for the card. We can’t get a car newer than 10 years unless get it on finance
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Sun 19 Jul 2020 17:31
Ford S Max - Finance or not - SamNM
I wasn’t sure if ultimately we would end up paying the equivalent of finance interest rates if got an older car with higher mileage and also the thought that it’s likely that car would never be able to be sold on ( most of the cars In our budget are 90000+ miles
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Sun 19 Jul 2020 18:16
Ford S Max - Finance or not - daveyK_UK
The Ford used approved scheme is Decent although if it’s costing you £3k more for a Similar vehicle on the scheme than one from elsewhere , I personally would pocket the £3k and maybe spend a small sum on an independent mechanics buyer report.
It’s unlikely your vehicle will go wrong to the tune of £3k unless there’s something already wrong with the engine and/or transmission.
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Sun 19 Jul 2020 18:46
Ford S Max - Finance or not - badbusdriver

A couple of points.

One, i'm not sure how the S-Max ticks all the boxes if your budget will only allow you to get into a tired 90k miles example.

Two, the Ford Galaxy, under the skin, is exactly the same as the S-Max. But because it doesn't have the 'sporty' rakish roofline, is less desirable and therefore (usually) cheaper. So probably worth a look.

Also, if you were to tell us what budget you have, some alterntives could well be suggested. Obvious candidates being the VW Sharan and (mechanical twin) Seat Alhambra.

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Sun 19 Jul 2020 20:21
Ford S Max - Finance or not - SamNM

A couple of points.

One, i'm not sure how the S-Max ticks all the boxes if your budget will only allow you to get into a tired 90k miles example.

Two, the Ford Galaxy, under the skin, is exactly the same as the S-Max. But because it doesn't have the 'sporty' rakish roofline, is less desirable and therefore (usually) cheaper. So probably worth a look.

Also, if you were to tell us what budget you have, some alterntives could well be suggested. Obvious candidates being the VW Sharan and (mechanical twin) Seat Alhambra.

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Sun 19 Jul 2020 20:30
Ford S Max - Finance or not - SamNM
I’m finding independent dealers aren’t very transparent e.g can’t tell me if clutch or cam belt has been done (I don’t know how true that is but they just say there’s no way of knowing) which when getting a car with high mileage are both things I want to know, having just forked out for a new clutch on mine plus other things (to the tune of £1800 when it’s part ex value is only £4750) my concern is the dealers warranty dosent cover those things and if I’m left without a car I will not only have to pay repairs but will lose income or have to pay out for a replacement car as can’t be without one. I’m also thinking further ahead that it will be very unlikely I will be able to sell the car on when it does come to that time. We don’t have any extra money to pay for an independent mechanic. I’ve always been able to pay cars from main dealers and never had any issues this is the first time I’ve not been in a position to and all the bad reviews I keep reading about independent dealers (even the good ones have some bad ones) is making me so nervous.
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Sun 19 Jul 2020 21:31
Ford S Max - Finance or not - daveyK_UK
Tread very carefully with independent dealers

Don’t believe a word they say, always check the vehicle and paperwork
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Mon 20 Jul 2020 08:51
Ford S Max - Finance or not - thunderbird
Tread very carefully with independent dealers Don’t believe a word they say, always check the vehicle and paperwork

Don't believe what any dealer tells you.

Its been said on here many times before but its worth repeating the 3 golden rules of used car buying:

1 All salesmen are liars

2 All salesmen are liars

3 refer to rules 1 and 2

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