Writing stories about the demise of the Ford Fiesta a few months ago had me wondering: just what would Ford dealers be able to say and to offer Fiesta buyers when their current finance deals came to an end?
Britain’s one-time most popular car has been swapped one into another by buyers for years, personal and happy relationships having been built up with dealers as a result thanks to a storied little supermini.
As a household, we were going to be in that position very soon. Our 20-plate Fiesta was coming to the end of its three-year PCP term this summer. We’re serial Ford and Fiesta owners: I’ve had two Fiestas, my partner the same again, plus another couple of Kas.
News of the Fiesta’s future made me more acutely aware that we needed to decide what to do with it come this summer. So I made good use of a week off last week and did something about it.
Confirmed: Ford Fiesta to be axed in 2023
The calls had started from the dealer about coming in for a conversation and getting into another new car, but in truth we were never going to go down that route anyway, thus missing out on hearing the answer to what I’d posed above. It probably wouldn’t be that dramatic or awkward anyway: an upsell to a Ford Puma, or another Fiesta given that you can get them for now…
Anyway, for a few years our household has been on the PCP train for car buying. Then you-know-what happened back in March 2020, and suddenly the family motor’s mileage started to average little more than 2500 miles a year. Signing up to another deal on a new car seemed a misplaced use of personal finances, so we’d either keep the car, having bought it outright by paying off the PCP balloon payment, or explore another used option.
Each option presented a killer deal. The first would be to pay the balloon payment at the end of just under £7500 for a car worth almost double that. The second would be to move it on before the imminent service and first MOT were due to avoid those costs and release the cash in it to buy something else. Given the former option would involve more money through a private loan, and we frankly still don’t need a car that expensive to do what we’d require of it, the second option seemed the no-brainer.
Join the debate
Add your comment
Its an interesting dilemma all the options. But I think I would have stayed in the Fiesta too. For quite some time to come
I would have kept the Fiesta, will only go up in price once they are out of production. Bought mine for £6480 after PCP 2 years ago and still worth £9k now!
Yes I'd say that the opportunity to hang on to a three year old low miles Fiesta for just £7.5k was a complete missed opportunity - but good luck with the eight year old Twingo!
I would have kept the Fiesta as Aston01 states they are not losing much money at the moment, we are currently being offered more than we paid for ours three years ago, but the wife loves it, its her car and it suits her needs, dealer tried to upsell us a Puma, (apparently they couldnt get hold of a newish Fiesta in the spec she wanted and currently has an ST-Line Automatic) but they are too expensive and too big for her.
Am I missing something?
Didn't the fiesta actually cost you your initial deposit + 24 monthly payments + the final payment of £6480 ?
Yes, I did state after PCP, but didn't do the predicted miles during covid so the car was worth more than the final payment.
I doubt used Fiestas will only go up in price. Used car prices are decreasing significantly.