Upgrade - Fiesta Edge To Titanium

[stuartr26]

I currently have a 2011 Ford Fiesta Edge 1.25 82ps with around 15,000 miles on it. I bought the car a year ago when it was an ex-demo car, I have done around 10,000 since I have had the car.

I saw with Dagenham Motors that they have an offer on the new 2013 Ford Fiesta Titanium at £12,495 (with the option to upgrade from 80ps to 100ps for another £600 odd).

They have offered me a rough figure of £6,000 part ex for my current car subject to a viewing.

Obviously the Titanium model includes a lot more gadgets and to me, most importantly, the ecoboost engine.

I have been told by a few people that my current cars value will drop significantly in the next few months as it goes past the two year old mark.

Does anyone have any suggestions as to if I should upgrade and why?

Seeing as I paid £8,500 at the start of Feb last year for my current car this seems like a good deal to get all of the extra tech and the new more economical engine.

Help anyone? Thanks

[btmaldon]

Ignoring what you will lose on your existing car, when I look to buying a new car I only concider if having a newer car is worth the additional amount I have to pay.

So in your case, assuming you owe nothing on the current car, is it worth upgrading to a Titanium that is 2 years newer than your current car for 6.5k? We may all have different views on that but its only your view that counts.

Nearly two years ago I had a a Focus Style Estate with 24k miles on it and chopped it in for a new Focus Sport. The price difference was 6k, however I had it on options and still had a year to pay. I paid an additional deposit, the repayments increased by 50 pounds per month and I still owe 4.3k at the end of the three years if I decide to keep it. At the time it seemed worth doing to me as I really wanted all the extras you get with the Sport (Satnav, reversing sensors, Titanium Interior, Auto Lights, Auto Wipers etc) and I didn't need an Estate.

Some may think I was daft to change it but I prefer this car by far and plan to keep it for a good few years yet. Ive never owned a car for more than 2 years so thats saying something.

[stuartr26]

Ignoring what you will lose on your existing car, when I look to buying a new car I only concider if having a newer car is worth the additional amount I have to pay.

So in your case, assuming you owe nothing on the current car, is it worth upgrading to a Titanium that is 2 years newer than your current car for 6.5k? We may all have different views on that but its only your view that counts.

Nearly two years ago I had a a Focus Style Estate with 24k miles on it and chopped it in for a new Focus Sport. The price difference was 6k, however I had it on options and still had a year to pay. I paid an additional deposit, the repayments increased by 50 pounds per month and I still owe 4.3k at the end of the three years if I decide to keep it. At the time it seemed worth doing to me as I really wanted all the extras you get with the Sport (Satnav, reversing sensors, Titanium Interior, Auto Lights, Auto Wipers etc) and I didn't need an Estate.

Some may think I was daft to change it but I prefer this car by far and plan to keep it for a good few years yet. Ive never owned a car for more than 2 years so thats saying something.

I bought my current car outright so I am trying to decide if I should part-ex (easy option) or sell it privately myself and keep the funds! I would be taking out the new Fiesta on 2 year finance and it does look like a good deal to me but I don't have quite enough to buy the Titanium outright.

I think because the spec is so much higher and it does have much newer technology than my current one it seems very appealing to upgrade. Also I am aware that as I get towards 20k/third year I am going to probably have to get new front pads, possibly new tyres and a major service so could be looking at a hefty bill later this year. Whereas if I was to get a new car all I would need is an interim service 12 months down the line!

Another question I have is: Is it worth waiting a few months till I have the figures to buy the car outright rather than go on finance? I don't know too much information on the finance deals and how they work when you reach the end of the agreement.

http://www.dagenhammotors.co.uk/offers/ford-fiesta-titanium

[btmaldon]

To be honest the Finance is killing me at the moment due to the economy and the fact that my pay has slipped behind inflation by around 20% over the last 12 years. I really need to get my loan paid off. I think it would be worth hanging on for a few months to see if you can buy it outright. The only thing is you can usually get a good deal at the end of March as the dealers are targetted to get their sales in. You may be able to get the price on the new one down a bit. Also I doubt that many people will be wanting a 13 plate as reselling may be difficult.

[stuartr26]

To be honest the Finance is killing me at the moment due to the economy and the fact that my pay has slipped behind inflation by around 20% over the last 12 years. I really need to get my loan paid off. I think it would be worth hanging on for a few months to see if you can buy it outright. The only thing is you can usually get a good deal at the end of March as the dealers are targetted to get their sales in. You may be able to get the price on the new one down a bit. Also I doubt that many people will be wanting a 13 plate as reselling may be difficult.

I can see what you mean it definitely makes sense. I'm guessing as you upgraded to a Sport model so your running costs have most likely increased from your old vehicle? I'm led to believe that the new ecoboost engine will improve fuel efficiency - taking my running costs down from my current car.

Might as well hold on and wait to see what the dealer comes back with figures wise - if they give me a good enough offer I might snap it up but for now I'm not in too much of a rush to change.

Thank you for your help.

[btmaldon]

The Sport model has the same engine. Its only a Sport by name but loaded with the extras to use up the remaining Mk2.5 Focus range. Still averages 42mpg on an 80mph run.