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Three ways green car loans could save you money
Buying an eco-friendly, or ‘green’, car is not only an environmentally responsible decision, it could also potentially be a financially responsible decision in more ways than just day-to-day running costs.
Often heralded as the first car company in the world, Ford was founded in 1903 and made the first car available to the masses in 1908, the Model T manufactured by Henry Ford’s Ford Motor Company.
Since its inception and founding, Ford has gone on to become the second biggest car company in America and the fifth in the world. While many car companies and competitors have offices in Australia, Ford was one of a handful that operates a research & development office in Australia, which was opened in Richmond, Victoria, in 2016.
Ford’s development goes beyond that of production cars for the developed world, working on economical and electric technologies, building buses, tractors, and vehicles for motor-racing, covering international events such as IndyCar, Formula One, Formula Ford, rally racing, stock car racing, sports car racing like (and including) that of Le Mans, touring car championships, drag racing, drifting, and more locally, Australia’s V8 Supercars Championship.
Ford cars in Australia
Ford offers a range of vehicles in Australia, ranging from small to large, covering 4WD and SUV, as well as utility, an area that Ford has become known for thanks to its trucks.
You can find Ford cars at a range of price points, and popular Ford models include
- Ford Focus Trend Hatch ($29,700): Available in hatchback or wagon, Ford’s smallest car presently offers five doors, six airbags, and an expected fuel economy of 6.4 litres for every 100kms.
- Ford Mondeo Trend Wagon ($45,542): A slightly larger smaller car, Ford’s Mondeo Wagon delivers a fuel economy of 5.3 litres for every 100kms, and includes a tech savvy interior with an eight-inch screen, Bluetooth, and support for Apple and Android.
- Ford EcoSport Trend ($24,990): A small car wrapped into a body built to be a 4WD, the Ford EcoSport offers a small engine inside of a small SUV with ample space on the inside.
- Ford Escape Trend EcoBoost ($40,515): A larger SUV with auto-dimming rear view mirrors and autonomous braking in cities, Ford’s Escape arrives in both 2WD and 4WD configurations.
- Ford Endura Titanium Turbo ($63,990): A larger SUV with a diesel engine, Ford’s Endura delivers a 6.7L per 100km fuel economy, with an inside made for comfort and control.
- Ford Everest Trend Diesel ($65,060): One of Ford’s largest SUVs, the Trend arrives in both rear-wheel drive and four-wheel drive, and seats up to seven.
- Ford Mustang GT Convertible ($83,786): Ford’s last convertible built with a performance focus, the Mustang’s legacy dates back to the 60s and is built for speed and handling.
Ford is one of Australia’s largest car companies, with vehicles built for a range of body types.
As such, Ford sells sedans, coupes, hatchbacks, and utility vehicles (utes), but also makes many SUVs made to take on more terrain than just the roads of the city. Pricing in Australia ranges from the $20K range up until close to $100K, depending on what you’re looking for in a vehicle.
There are over 200 Ford dealerships around the country, many of which are independently owned, offering both new and used Ford models.
New cars purchased from May 1, 2018 onward receive Ford’s new warranty, covering a Ford vehicle purchase for five years with an unlimited amount of kilometres driven. Cars purchased before May 2018 are bound by the older warranty, covered by three years or 100,000 kilometres, whichever comes first.
While Ford focuses on consumers and performance vehicles, it also builds fleet vehicles for businesses.
How can I get a Ford car loan?
Like many car companies, Ford offers in-house finance to help new car buyers organise car loans for a Ford purchase, provided under MyFord Finance.
Dealer finance may not be as cost-effective as other options, as it typically offers convenience in exchange for higher fees, higher interest rates, or both. When you’re signing the lease agreement for a new Ford, the convenience extends from your ability to command money at the dealer, making a Ford car loan that much easier.
When purchasing a new Ford, consider one of several options to improve the cost options for your new car:
- Use a car loan comparison website like RateCity
- Find a finance broker to act on your behalf
- Go directly to a bank and apply for financing
How much does a Ford car loan cost?
Here are the approximate running costs for three different Ford models, based on RACQ category averages:
|Model||Category||Cents/km||Average $ per week|
|Ford Focus Trend Hatch||Small||55.2c||$159.21|
|Ford Escape Trend EcoBoost||Medium||71.9c||$207.31|
|Ford Everest Trend Diesel||SUV Large||80.7c||$232.64|
Here’s how much a five-year loan will cost for three different Ford models if you borrow 100 per cent of the purchase price over five years:
|Model||Price/loan||Total repayments at 6%||Total repayments at 8%||Total repayments at 10%|
|Ford Focus Trend Hatch||$29,700||
|Ford Escape Trend EcoBoost||$40,515||$46,996||$49,290||$51,649|
|Ford Everest Trend Diesel||$65,060||$75,468||$79,151||$82,940|