Danoz

I see there are a lot of threads on purchasing new cars or leasing new cars, but has anyone actually used them to purchase a used car?

I have spec'd out a new Ford Edge Sport with them and price seems reasonable when looking at sticker price, however the same price you can get some pretty decent used cars that are 12 months old.

My guess is that any finance they offer may not be as good as a via a dealer, but would be interested to hear anyone's stories if they have down this route.

Guindalf

Dealer finance offers are based on credit rating, so if you are new to the country, you will not qualify. You need to be in the 'Excellent' category to get the rates shown in the ads on TV.

Buying used is a whole new ball o'wax. Check with a credit union like PenFed (yes, you can join easily) or bank before you go to the dealer and you will, at least, have something to compare.

I bought a 2011 Edge Limited in December and could have gotten 1.49% from PenFed but the dealer got me 2.02, so the difference wasn't worth messing with. I have excellent credit, though so YMMV.

Pulaski

I bought my first car in the US from International Autosource. They got me a 0% finance deal from Ford Motor Credit. I can't fault their service, and apart from being a pretty good deal, as soon as you get your SSN to FMC you're building your credit history with car payments. What's not to like? ....Yes they sound a bit "odd", but their bread-and-butter business is selling cars to US servicemen, so they're totally legit.

Danoz

Spoke with them yesterday and they indicated that they could assist with used cars and financing is still available, however they use a third party to do their used car side of things, and i have been given a form to fill out. I am expecting that their interest rates will not be great, as that is typically how financing works when your credit history may not be (appear) good.

Those interest rates you have got sound great.

Danoz

Hi Pulaski. I am not worried about Intl Auto Source from a legit perspective, I have read too many good news stories for them not to be. Also if you say they are primarily there for service personal I am sure that would be a pretty quick way to get a bad reputation if you screwed your return servicemen over

Despite a lot of searching I havent found any stories about using them for used car purchases, so wanted to ask, as I typically buy my cars a few years old with low miles. Tend to get more for you money and the initial depreciation has been already realized by the first owner.

I have spec'd up a 2014 Ford Edge Sport with them as a new purchase, which is looking like what we will go with, but my wife also likes the Range Rover Evoques, and you can get one of them used for the same price. Maybe not as big or powerful as the Edge, but a lot nicer.

Pulaski

I didn't know that IA had anything to do with used cars, but I used to think like you, and never purchased a new car in the UK. However there are two reasons I am unlikely to buy a used car in the US, unless it it some sort of collectable/ classic, firstly cars do not depreciate as quickly in the first 2-3 years as in the UK. I am amazed at the prices for "nearly new" used cars here. Secondly, most cars here are driven by incompetents with lead feet, any idiot can mash the gas peddle into the floor in an automatic, and so many people do that you really have no idea what you're getting into when you buy a used car.

Here's someone else's opinion, admittedly for much cheaper used cars than would likely interest you, but it's all part of the same picture: britishexpats.com $2000 used car

[Edited to remove erroneous information, see Guindalf below]

Guindalf

Where do you get your information from? This is just not true!

It may be shared, but it is based on the Fusion platform, which is not going anywhere. In fact, the 2014 Edge is similar in spec to the 2013, with minor changes...

https://media.ford.com/content/fordm...2014-edge.html

The current model was introduced in 2011 and the previous one was brought in back in 2007, so it's going to be at least another year before it's redesigned or dropped, the latter of which is unlikely as it's a good seller for Ford.

It only drops in the reliability ratings because of the complicated and not-much-liked MyFordTouch system, with which I have to agree, but everything else seems to be rock solid so far.

So how is it 'about to be discontinued'?

Pulaski

You are correct about the 2014 compared to the 2013, but the 2014 is the last Edge on the Ford CD3/ Mazda G platform.
It was a year or so back. I now see there is a new model planned, based on the same platform as the new Fusion/ Mondeo. http://wikipedia Ford Edge

The current Edge IS based on a shared Mazda platform, that also underpinned the old Fusion, so that platform is going away, I just hadn't heard that there was a new Edge coming for the 2015 model year.

That said, I am mystified as to how the same manufacturer can make the Edge, the Escape and the Explorer as they are functionally very similar (crossover, raised driving position), and the article I read predicting the demise of the Edge said as much, that taking the Explorer off a frame and making it a crossover likely meant the end of the Edge.

Danoz

Guindalf, am I correct in assuming you have an edge then? If so do you mind letting me know your thoughts about it? Not so worried about the myford touch, more the comfort, ride and quality of the interior/exterior.

Guindalf

Yes, I have a 2011 Edge Limited with the 301A package (HID headlights, nav and power tailgate) plus the upgraded 20" wheels. I bought it used in December of last year. In fact, mine was a 'lemon' or manufacturer buy-back, due to the MFT system (I got all the details when I bought it) and I saved about $8.5k on the KBB retail. I did, however, get a 12/12 warranty and I paid for and extended warranty too (something I never usually do, but with the savings it was worth it for peace of mind). I get around 20 MPG around town and 24ish on a run.

I have put about 11k miles on it since I got it and, so far, absolutely no issues. The transmission can be a little sharp at times, but it's comfortable, rides very well and has lots of space. Sometimes I feel that visibility is not the best, but nothing I haven't got used to.

As for the MFT, yes, it can be hard to use and inputting an address for the nav can be a challenge at times, but I really haven't spent the time to explore it properly. I have a small problem with the display not dimming or dimming during the day, which started after the last update, so I need to check it in and get it looked at. Apart from that, I'd recommend it.

The Sport version has the larger 3.7L engine but, I think, it has the same transmission. It also has a few extras over mine like 22" rims (expensive tyre replacement!) as standard.

Overall, a good car so far.