Buying a used Ford with hire purchase (HP) car finance

Ford is a well-established car manufacturer, known for producing a wide range of reliable, practical, and affordable vehicles.

At AutoMoney Motor Finance we can help you secure HP car finance on a used Ford within minutes.

What’s more we can complete your deal the same day, so you can drive home with your chosen Ford model straight away.

Apply now for HP car finance

Complete your details via our online form.

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

Contents

Want to know more about buying a used Ford?

If you’re considering purchasing a used Ford, here’s a detailed look at what you should know about its strengths and weaknesses:

Strengths of buying a used Ford:

  1. Value for money: Ford vehicles are often praised for offering good value for money. They combine affordability with a decent range of features and solid build quality, making them an economical choice for used car buyers.
  2. Practicality and space: Models like the Ford Focus and Ford Mondeo are known for their practicality. They offer spacious interiors, comfortable seating, and ample boot space, making them ideal for families and those needing extra room.
  3. Reliability: Ford has a reputation for producing reliable vehicles. Many of its models perform well in reliability surveys, providing peace of mind to owners. The availability of parts and widespread service centres also contribute to their reliability.
  4. Innovative features: Ford incorporates a range of innovative features across its models. Look for technologies like the SYNC infotainment system, which offers voice control, navigation, and smartphone integration, even in older models.
  5. Wide range of models: Ford offers a diverse line-up, from compact cars like the Fiesta to larger SUVs like the Kuga and performance-oriented models like the Mustang. This wide range ensures that there is likely a Ford model to suit various needs and preferences.
  6. Fuel efficiency: Ford’s EcoBoost engine technology offers good fuel efficiency without compromising performance. This is particularly appealing for used car buyers looking to minimize running costs.

Weaknesses to consider:

  1. Interior quality: While functional, some Ford models may have interiors that feel less premium compared to rivals. The materials used can sometimes feel cheap, and the design might lack the sophistication found in other brands.
  2. Depreciation: Ford vehicles tend to depreciate faster than some competitors. While this is advantageous for used car buyers due to lower purchase prices, it’s worth considering future resale values if you plan to sell the car later.
  3. Driving dynamics: Although generally comfortable, some Ford models are not as engaging to drive as rivals. The focus on practicality and comfort can sometimes come at the expense of sporty handling and performance.
  4. Model-specific issues: Certain Ford models have known issues that potential buyers should be aware of. For example, the Powershift automatic transmission has been problematic in some models. Researching specific issues related to the model and year you’re considering is crucial.
  5. Market saturation: Ford is a popular brand in the UK, which means a saturated market. While this ensures availability and competitive pricing, it can also mean a more challenging resale market due to the high volume of similar vehicles.

Tips for buying a used Ford

  • Research specific models: Focus on popular models like the Fiesta, Focus, and Kuga, which have strong reputations in the used car market. Research specific model years for any common issues or recalls.
  • Check service history: Ensure the car has a full service history and has been well-maintained. Regular servicing by authorised Ford service centres is a good indicator of a well-cared-for vehicle.
  • Inspect for common issues: Look for signs of common issues, such as transmission problems in certain models. A thorough inspection and test drive can help identify potential concerns.
  • Consider certified pre-owned: Ford’s certified pre-owned program offers benefits like extended warranties and comprehensive inspections, providing added peace of mind.
  • Evaluate running costs: Factor in potential running costs, including insurance, road tax, and fuel consumption, to ensure the car fits within your budget.

Overall, a used Ford can be a practical and economical choice for buyers in the UK, offering reliability, good value for money, and a range of innovative features. By conducting thorough research and inspections, you can find a high-quality used Ford that meets your needs and provides reliable service for years to come.

Buying a used Ford with HP car finance

One of the ways to buy a used Ford, if you do not have enough money to pay for it in full straight away, is to use HP car finance.

This is where you ‘hire’ the Ford from us, spreading the cost of the car over monthly payments to us. These payments contribute towards you ‘purchasing’ (buying) the Ford from us at the end of the term of the borrowing, when you also pay a one-off “option-to-purchase” fee.

At this point you own the Ford completely and our contract comes to an end.

The pros and cons of HP car finance

Borrowing money to buy anything comes with risks, as well as rewards.

Buying a used Ford could be the right choice for you and an ideal solution to the practical challenges of getting about day to day. However, whilst a used car can be significantly cheaper than its brand new alternative, it still involves spending a lot of money.

When you borrow money, you need to make sure you can keep up with payments comfortably. You will have other bills to pay and necessary things to buy, so you don’t want to find that the payments on your Ford are leaving you short of money each month.

There are also other considerations when buying a used car and below we share the pros and cons, to help you decide if applying for HP car finance is right for you.

The pros

  • Drive away in a Ford today: with HP car finance you can get a Ford, even if you don’t have all the money for it right now.
  • Spread the cost of owning your Ford: cars are expensive, but are often an essential part of daily life. When you buy your Ford with HP car finance, you can pay for it gradually over time.
  • Manage your finances: HP car finance comes with a clear payment plan. You can easily compare what your finances will look like each month by taking away the money your Ford will cost you, alongside your other bills and costs, from your income to make sure it is affordable for you.
  • Decide how much you can afford each month: if you find the Ford you are looking at is too expensive per month, you can look at other options, with lower monthly costs.
  • Choose a term that suits you: you can repay over 3-5 years, which will impact the monthly cost to suit your monthly finances. Borrowing for longer reduces the monthly cost, but be aware it may increase the total amount you repay.
  • Own your Ford at the end of the term: If you keep up with your monthly payments, and can afford the “option-to-purchase” fee, you will own your Ford at the end of the term of your agreement.

The cons

  • Delayed ownership: You won't own the car until the final payment is made. Missing payments could result in your Ford being repossessed.
  • Depreciation: Used cars can lose value quickly. You might end up paying more than the Ford is worth over time.
  • Higher total cost: The total amount paid, including interest and fees, will be much higher than the Ford’s purchase price.
  • Insurance requirements: Comprehensive insurance is required, which can be more costly.
  • Credit impact: Missing payments can negatively affect your credit score, making future borrowing more difficult.
  • Repossession risk: Failure to make payments can lead to the car being repossessed, possibly leaving you with outstanding debt.

Please make sure you read and understand your hire purchase agreement, maintain your car and ensure you can afford the payments before committing.

Why get HP car finance with AutoMoney Motor Finance?

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  • Complete the same day

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AutoMoney Motor Finance is part of a family-owned company called Norfolk Capital Group. Our chairman built all his businesses on strong values, which we look for in every employee that works here.

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Ready to apply?

We hope you found the information on this page useful. If you are now ready to apply for HP car finance with us, we’d be pleased to help.

Get started with an application using our online form:

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

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