[mcummings182]

I stopped at Ford on the way home from work to see when I can turn my 2011 Fiesta in (lease ends in June) to get an ST. He said I can trade it in now without having to pay the 5,000 miles I'm already over. So we go to talk about what the pricing would be. I told him exactly what I wanted, and he told me since my car is negative equity (no idea what that means) the better option would be to buy an ST. So he gives me a price of $370 a month. I'm like whoa that is amazing. I was expecting it to be like $600. He walks away and comes back and all of a sudden it goes from $370 to buy to $490 to lease for 72 months. I can barely afford that price, I'd be broke (with stupid school loans, otherwise I'd be able to do it) and there is no way I'm being in a lease for 6 years. So I don't know what to do now

 

[kvetcha]

Negative equity means you owe more on your current car than it's actually worth. Sorry to hear it.

Best thing to do is just save money and wait until you're in a better position. It sucks, but it'll feel great when you can buy a new car with no strings attached.

 

[mcummings182]

It's just not fair that it ends out like that. I am still learning stick shift, I am learning it because I want this car. I'm actually buying a cheap beater stick shuift today. Figure I could learn to drive with it plus save my car from using more miles. In the meantime I will have to save as much money as I can.

 

[captainmorbid]

I'm stuck with my 11 for a couple more years too, I feel your pain.

 

[breon]

Are you sure they said you wouldn't have to pay for the milage overage? 5000 seem like a lot for them to just eat. Maybe they meant that you wouldn't have to write them a check for the overage and that they would just roll it into your next loan. That's what they did for me. The value of my car was $400 less than what I owed, so they added that $400 to my next lease.

$490 seems like a lot. Does the car have all options? I priced one out, using Ford credit and the payment comes out to $396 for 72 mos @ 1.9%

 

[mcummings182]

I guess he made a mistake. It would be $490 a month to buy. I can probably do that. I'm going to go to a different Ford and see if I can get a better price. I'm going to take my brother cause he's a dick and always gets them to lower the price a lot.

 

[TWDM]

Honestly, if you can barely afford the $100 difference/month, you really shouldn't get this vehicle. Get a cheaper second hand car and save your money until you have better income.

If any unplanned events happen you would be in a financial mess. The worst decision you can make is to sink all your income into a depreciating asset.

 

[tubbyaz]

I've seen too many friends who were upside-down on their old car, and roll that debt into the next one. Don't do it.

My new ST is the very first new car I've owned that wasn't a "loss-leader" of some sort. And I'm well over 50 years old. Do not make yourself a slave to your car payment.

You are correct though in your statement about a six year lease. Run run run run away from anyone who would suggest such a thing.

 

[mcummings182]

I did calculations and I can definitely afford it. I will still have a little over $1000 left to spend a month on groceries and gas. I am going to a different Ford tomorrow with my brother to see if we can get a better deal.

 

[brian]

Don't forget to add in $$$ for snow tires!

 

[mcummings182]

Yea I can probably get those right after I get the car. I also work for my mom part time, so one paycheck from that will pay for the tires. The bad thing is since the tires are such an odd size, not many tire places carry that size. Firestone has a couple right now but that's all I've seen so far.

 

[brian]

The tire rack has snow tires for the FiST. I'll most likely just order from them and have them mounted locally, or ideally, get them shipped already mounted on some steelies.

Www.tirerack.com

 

[mcummings182]

Shipping is going to be ridiculously expensive though lol. What is the tire size?

 

[mcummings182]

Oh wow shipping is only $50 and you can ship it to a tire place to put them on for you. And the Bridgestone Blizzak tires are perfect for snow and ice. And they are way cheaper on that site you provided than Bridgestone's site. They are $700 on their site

 

[brian]

Have you ever ordered tires before? Shipping isn't that bad. And tire rack is just over in Indiana. You could make a quick day trip of it!

They will have a bigger selection than any tire shop locally. They have recommended installers all over the country. I believe they're a forum sponsor too! Obviously I like the tire rack a bit

 

[brian]

Oh wow shipping is only $50 and you can ship it to a tire place to put them on for you

Yes!

I happen to drive by there almost weekly for work. I'll prob just stop in and pick up mine when it's time.

 

[mcummings182]

It's about 4 hours away from me. Not too terrible at all. Do they put the tires on there too, or just sell them?

 

[brian]

Do they put the tires on there too, or just sell them?

That's a good question! I know they will mount tires on rims and I'm 97% sure they will install at their facility. I'd call first to make sure/check stock/ make an appointment if needed.

 

[mcummings182]

I checked their site and it looks like they do installations by appointment, so that works out perfect. I also plan to get some black rims to put on the standard tires after snow season is over. Just gotta find a good price and save money for those too.

 

[CarefreeAZ]

I checked their site and it looks like they do installations by appointment, so that works out perfect. I also plan to get some black rims to put on the standard tires after snow season is over. Just gotta find a good price and save money for those too.

I had several sets of tires mounted at The Tire Rack in South Bend. Drive down to arrive around 8am, out by 9 in time to visit South Bend attractions (Studebaker Museum, College Football HOF, ND, etc.).