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Discussion Starter #1
I finally bit the bullet and did it. Spent the last 5 days going around and around, wheeling and dealing. Here's a bit of back story before I give you guys the goods. I'm located in Buena Park, California. Basically a couple miles from Disneyland. I'm a 30 year old male, and I've always owned used cars.

This is my first NEW car purchase, first time buyer, non existent credit (at 30?! god I should have gotten a credit card when I was younger lol); so I knew this was going to be interesting. I must have gotten in touch with over 16 dealerships in the greater Southern California region, looking for ST's, and then trying to work on prices. Either they didn't have any, and then the ones that did have them were wanting to sell them at a mark up. I got prices anywhere from $1000-$5000 above MSRP lol Come to find out, people were paying that for them. If I didn't basically commit to buying the ones that popped up at the time, they got sold off within a day, price be damned.
So after being able to test drive a white ST over here in Buena Park (the dealership was super cool and willing to let me take their showroom car out for a test drive lol), I knew I was sold on the car, so I started the wheels in motion to get one. I got lucky and found one that I wanted, package and color at Power Ford and Lincoln in Tustin, Ca. Pretty cool because it was local.
I'll tell you right now, I'm one lucky SOB because I actually KNOW someone who sold cars, and was willing to tag along and basically do all the heavy lifting for me. Let me give you a rundown on what exactly I was buying.

MSRP
  • Base Price $23,700
  • Total Options $3,300
  • __________
  • Total Vehicle & Options $27,000
  • Destination & Delivery $795
  • __________
  • Total Before Discounts $27,795
  • [Equipment Group Savings] $120
Total MSRP
  • $27,675.00

Exterior
  • Tuxedo Black Metallic
Interior
  • Blk/Smoke Part - LTH Recaro
Equipment Group 201A
  • ST2
  • MyFord Touch/Sony/Sirius
  • Dual Zone EATC
Optional Equipment
  • Front License Plate Bracket No Charge
  • 50 States Emmions No Charge
  • MyFord Touch/Sony/Sirius $795.00

The car has about 40 miles on the Odometer because they had to drive it from LA down to Orange County. Trust me I was kind of upset lol but owell. I could have picked it up, but then it wouldn't have been cleaned, and if anything happened from there - back here, it would be my problem and not theirs.

We we able to lower the price pretty decent. I was able to get the car $500 below MSRP. I was lucky in a sense that I was able to put down a sizable amount of money as a down payment. Seeing as I have no credit, it was the only real way I could get this car.

Here's the break down:

Purchase Price
  • $27,175
Document Processing Charge
  • $80.00
California Sales Tax (At 7.75%)
  • $2112.26
Electronic Vehicle Registration or Transfer Charge
  • $18.60
Optional Premium 7 year 100,000 Warranty
  • $1775.00
Total Cash Price
  • $31180.86
Amount Paid to Public Officials
  • Vehicle License Fees $176.00
  • Registration/Transfer/Titling Fee $100.00
  • California Tire Fees $8.75
Total Official Fees
  • $284.74
Subtotal of Car
  • $31,465.61
Down Payment Amount
  • $21464.00
Amount Financed
  • $10,001.61

Keep in mind the 7 Year 100,000 mile warranty usually runs $2400+ but we were able to talk them down on it. I could have gotten it cheaper then the $1795.00 I paid for it, but would have been through SafeGuard and not FoMoCo; while Ford covers all the parts of the car (minus wear and tear), SafeGuard only cover certain aspects.

I was able to get a great APR Rate through FoMoCo at 6.99% for 60 Months. I can still shop around for a better rate, probably even down to 4.9%, but then I'd lose the ability to be in a better tier bracket the next time around with Ford. Something I have to think about. I put down what I did, so I could finance what I am; with it being just a dollar over $10,000, it puts me in a better bracket to build up my credit. Looks better to people who I may one day need to barrow money from.

So that put my payments at $198.57 a month, and the total financing charge is $1912.59. Which brings the total price of the car up to $33,378.20.

My plan is this. I need to have paid on the car for 2 years straight, before I can pay the amount off in full, to build my credit. After the 2 year mark I plan on paying the remaining balance on the loan, which should drop the total price of the car down just under $1000.

So at the end of the day, when everything is said and done. Because I didn't use any of the A, D, or X plans. And being able to talk them down below MSRP without using any other external means. I should be paying around
  • $32,500 for the car, warranty, and after the financing charges

I understand that many of you have been able to get it cheaper, so bare with me on the price. I know it seems like a lot. But factor in that I live in California, all of the California taxes, my extended warranty, financing charges, and lack of being able to get a crazy discount with the D plan; I think I made out pretty good! I have to wait till Wednesday to go and pick it up, waiting for my funds for the deposit to come through. So as of right now, no pictures. But as soon as I get the car, you'll see them. Thanks again everyone, the info I've gotten of this forum was one of the major selling factors on me purchasing my first car, take a bow people :)
 

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Sounds like you got a deal you are happy with. That's all that matters. Congrats on the ride! Pics needed. :beer:
 

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Yeah, as long as you didn't get hosed on a +$5000 mark up, and paid under MSRP you did fine. We are all happy for you :) Yes, pics needed!

this forum was one of the major selling factors on me purchasing my first car, take a bow people
+1 Thank you, and to everyone who helps make FSTN what it is.

Chad
 
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Well done man! That over-MSRP premium crap was just that, crap. You did good, and took a very logical and well thought out approach to the deal. And once you build your credit up, you can secure financing at much better rates for future purchases (we've been approved for a 1.49% rate for example).

BTW, I'm still debating paying $1200-$1300 for the FoMoCo premium warranty versus $800 for a very similar warranty through USAA. It's a tough call since both essentially offer the same sort of coverage. I'd appreciate your reasoning for choosing the FoMoCo over any others.
 

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Discussion Starter #7
Well done man! That over-MSRP premium crap was just that, crap. You did good, and took a very logical and well thought out approach to the deal. And once you build your credit up, you can secure financing at much better rates for future purchases (we've been approved for a 1.49% rate for example).

BTW, I'm still debating paying $1200-$1300 for the FoMoCo premium warranty versus $800 for a very similar warranty through USAA. It's a tough call since both essentially offer the same sort of coverage. I'd appreciate your reasoning for choosing the FoMoCo over any others.
Thanks Buddha :) I hope one day to be able to HAVE awesome credit enough to get 1.49% or lower even. I'm still going back and forth if I should stay with FoMoCo Financing or shop around and find a better rate. I may be able to drop it 2 points if I leave, but then I'll lose the ability to bump my tier rating with Ford. For those of you not in the know, Ford has tier rating for individuals that lets you get approved for a bigger and better cars. Right now I'm in tier 4, the lowest(?) and if I keep with the FoMoCo as my financing company I'm for sure getting bumped up to tier 2, possibly tier 1. Which means less money I have to put down for the next car before they approve me on another loan.

The main reason I chose to go with FoMoCo's warranty and not the cheap one is the break down. SafeGuard was the other choice, and a few hundred less (then I paid), but they only covered certain aspects of the car during the warranty period. Ford on the other hand is going to cover everything, bumper to bumper, for the full term now. Obviously wear and tear items don't count (god wish they did... bmw warranty anyone? lol). The deductible for every time I have to take my car in to get something fixed is $100 or less. So if I blow the motor out at 6 years and 80,000 miles, I get a new motor in my car for $100. Don't let them sell you the warranty at full price, they took off over $750 bucks on mine. They can always work on the numbers.
 

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Yeah, you can find the FoMoCo premium warranty offered by other dealers and online vendors for A LOT less than your dealer will offer it. One place has quoted me $1260 for 7yr/100k mile FoMoCo ESP PremiumCARE with $100 deductible. Last extended warranty we had paid for itself in the first 3 years, and there was still 7 years left on it (HondaCare warranty on our minivan). Still 5 years left on it now.
 

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Discussion Starter #9
I've always thought of the warranties as just a buffer for me. I dont NEED it, but for a first year production car, and is turbo'd and meant as a performance car. I know there will be bumps in the road. So why not be a little prepared. Worse comes to worse, I spent $1700 on piece of mind lol
 

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I had FOMOCO ESP 7 year 100,000km with a $100 ded on my 2002 SVTF and I loved it! It is very close to bumper to bumper coverage just costs you $100 per claim or work order opened. So go to ford with multiple issues at a time and do your research prior to make sure it is covered. My ESP paid for itself vary fast when I started to have reaccuring problems with my horn, imrc, T-stat housing.
 

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factor in tax and other random fees, i got my st3 for 28k /flex but i think the only reason i managed to get that is (at least what i want to attribute it to) due to my sales background and me calling the dealer out on a bunch of mistakes they made. Otherwise, you got yourself a good deal.
 

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Very interesting conversation. I am not a warranty guy, but the idea of a 1st year production car raises my eyebrow. I was kinda scared of your numbers, but CA taxes really drive the numbers up.

I was hoping to buy an ST2 for $25500...is this possible? What weapons do I have at a dealership? How do you get a sticker of $27000 down to $25500? Anyway...enjoy your ST + post pics soon...
 

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Ford's X plan on an ST2 (no extra options) should be around $25,700 (before doc fees and TTT). It may be possible to negotiate it lower, but X plan is a simple and straight forward way to ensure a decent price without a lot of hassle. If you're not already authorized for X plan, do a search and you should find a few threads on it.
 

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Good thing my lease with hyundai ended around black friday 2013, i got my 2013 st3 for sticker minus $1223 -$2000 rebate so before tax and registration the total was $26277, with tax and registration in northern cali was $28661 and ford gave me 0% for 5 years, you don't have to finance with ford to get better deal next time. This was my first ford, the auto companies look at your auto credit score, as long as you pay on time and pay off your loan, you will be good. I've had auto loans with honda, wachovia, nissan and hyundai, they all look at the auto credit score. I love my ST! Are you enjoying yours?
 

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you American's get off easy..my st3 was just short of the 40g mark. (after taxes, 6 year warranty and employee pricing)
keep in mind it's just over 32 grand to build on ford.ca, plus 13% tax, plus all the other crap.. I'm happy I got 0% financing though.
I still thing it's a hell of a deal. When I bought my 99 Grand Prix GTP new it was a few grand more and half the car this is!!
 

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A good way to build credit is to get a department store card, like sears or macy's. Sears will give one to anyone (I got a sears card when I was 19 to buy a playstation, yes the original playstation). And use it when yoj have to buy stuff, and just pay it off right away so you don't have to pay crazy interest. I bought my first new car when I was 25 and it was a 2000 civic ex coupe. I got a really good rate at 1.9% for 60 months without a cosigner because I built up my credit. Main thing is pay it off, don't go over your head and go on a buying frenzie.

Sent from my GT-N5110 using Tapatalk
 
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