Hi guys. I currently have a Ford Fiesta titanium which I got in 2019 and am paying 248 a month for it. I didn’t put any deposit in as I traded in my 10 year old Toyota Corolla on diesel scrappage scheme. I was contacted by ford 2 years into my deal (yesterday) to see if I’d be interested in replacing my car with a 2021 model (not the face lifted one) with a mild hybrid eco boost engine and driving assistance pack added on at the same price I’m paying now with no deposit. Is it a good deal or should I wait for the 2022 model and upgrade next year? Or just buy it outright next year and sell on the used market? I’m new to pcp so thought I’d post here and get some advice. 

Finance is always a very personal decision. 

Some favour PCP, some HP, others only ever buy outright. 

Do whatever you feel is best for you and your pocket.

16 hours ago, SS259 said:

Hi guys. I currently have a Ford Fiesta titanium which I got in 2019 and am paying 248 a month for it. I didn’t put any deposit in as I traded in my 10 year old Toyota Corolla on diesel scrappage scheme. I was contacted by ford 2 years into my deal (yesterday) to see if I’d be interested in replacing my car with a 2021 model (not the face lifted one) with a mild hybrid eco boost engine and driving assistance pack added on at the same price I’m paying now with no deposit. Is it a good deal or should I wait for the 2022 model and upgrade next year? Or just buy it outright next year and sell on the used market? I’m new to pcp so thought I’d post here and get some advice. 

We swap our cars between 2 and 2 1/2 years regularly but usually configure the cars ourselves so they aren't usually stock cars we get, they are factory builds.

It is difficult to say whether the price is a good deal or not as prices are different around the country along with haggling and negotiating etc etc. If it is a like for like model or older stock the dealership want to move on then they usually offer a good price as an incentive.

Be aware if you wait for a new face-lift model the price will probably be higher (possibly much higher) than what you are paying now as they won't be as discounted as "old shape stock"..... 

Dealers also usually offer incentives and better prices to longer term, loyal customers. The longer you stay with them for new cars, servicing etc etc then usually the better deal you get.

Personally over the last decade we haven't bought new cars outright, we have PCP'd as they call it now. Yes we pay for the cars but it is no worry motoring and a brand new car every couple of years. Cars depreciate too much when buying from new.

Its a strange scenario to be in at the moment.

Weve always bought our cars from roughly being up to 12 months old max ( cars not us) and recently got offered the same amount of £ that we paid for our car just over 2yrs ago.

Normally it would be a no brainer to cash in and get something newer but as the current climate is it's quite the opposite as theres very little option around and the specifications have somewhat been decimated by Ford so for the moment were sitting tight with what we have. 

Just drove my 2017 Ecoboost 210 miles this morning. It has just passed 17000 miles and consumed fuel at 65 mpg at an average speed for the journey of 55 MPH.

Why on earth would I want to change it?