Automotive

Finance takeover for 2014 Ford Focus HB - good deal?

  • Last Updated:
  • Sep 28th, 2018 11:58 am
[OP]
Member
Aug 29, 2007
281 posts
94 upvotes

Finance takeover for 2014 Ford Focus HB - good deal?

I've been searching for a 2nd car for a while and came across an ad on kijiji for a finance takeover. The car is a 2014 Ford Focus SE Hatchback. Mileage is 65K and comes with a set of winter tires on rims as well. Has extended powertrain warranty, which I assume is for 5 years, so good for another year or so. The biweekly payments are 135 including tax and there's about 3 years left. So in total, it works out to be 10,500. What I like about the deal is that financing and taxes are already included in it. If I were to buy another used car, I'd have to either get a loan or use a line of credit anyways. As this is a finance deal, there are no further payments after 3 years. What do you guys think? Good deal?
6 replies
Member
Feb 2, 2018
269 posts
206 upvotes
Montreal
Those cars are infamous for their dual clutch transmission issues. I would research and make sure Ford has a permanent fix before committing to buy. Manual transmissions are fine.
Deal Guru
User avatar
Jul 12, 2003
10083 posts
2401 upvotes
Markham
How much was the finance rate?
How’s your credit, you need to pass credit check to take over a finance too.
Retired Forum Moderator February 2009 - June 2015
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Mar 21, 2002
6208 posts
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CloudReader wrote:
Sep 27th, 2018 10:07 pm
Those cars are infamous for their dual clutch transmission issues. I would research and make sure Ford has a permanent fix before committing to buy. Manual transmissions are fine.
Find out how many times the transmission (assuming it's not a manual) has had to be repaired/replaced and exactly how much time is left on the powertrain warranty.
Deal Addict
Nov 8, 2017
2106 posts
638 upvotes
will660 wrote:
Sep 27th, 2018 9:41 pm
I've been searching for a 2nd car for a while and came across an ad on kijiji for a finance takeover. The car is a 2014 Ford Focus SE Hatchback. Mileage is 65K and comes with a set of winter tires on rims as well. Has extended powertrain warranty, which I assume is for 5 years, so good for another year or so. The biweekly payments are 135 including tax and there's about 3 years left. So in total, it works out to be 10,500. What I like about the deal is that financing and taxes are already included in it. If I were to buy another used car, I'd have to either get a loan or use a line of credit anyways. As this is a finance deal, there are no further payments after 3 years. What do you guys think? Good deal?
First go there and have a good look of the Focus. Test drive ... checked by your mechanics.... blah blah blah

Don't be blindsided.

You are responsible for paying for the car for another three years with the warranty ending in a year.

At the end of the day, is this a good deal (fair value used) at the estimated 10.5k?
[OP]
Member
Aug 29, 2007
281 posts
94 upvotes
ok, thanks everyone. sounds like good advice and good questions to ask. I will start with that. yes, I'm concerned about the transmission issue and that may kill the deal. still looking at some lease options as well.
Deal Expert
Aug 22, 2011
28041 posts
13856 upvotes
Ottawa
$10.5K for a 4yr old Focus?
Go get yourself a Corolla.

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