nashy Posted December 10, 2015 Share Posted December 10, 2015 I purchased my fiesta in sept 2014 brand new and took out a 2 year pcp plan. When discussing it with the salesman he said that generally at the end of the term there is normally around £1000 equity in the car over the final guaranteed value and probably would be slightly more for mine as i had extras on it. Well including interest etc i will pay £16,695 for the car, a powershift 1L ecoboost titanium x with full body kit and zetec s front grills and spoiler all fitted by ford. I know it was around £3000 under list cash price and remember someone on here paying that much more for the same spec just after i bought mine. I am thinking about part exchanging it now and although the dealership i enquired at commented that it was in showroom condition and under 11.000 on the clock (there is not a mark on it and still has the original plastic coverings over sill plates) i was shocked that it is apparently only worth £8500 against a £17,500 car. Less than a month ago i was told it was worth £9500 and i owed £8690. Now my concern is that it has plummeted so quick in value what is it going to be worth by Sept 2016 when the final Guaranteed value is £7674. The dealer today has said that they may consider raising the offer slightly to cover what i owe now which for some reason has gone up to £8735 this month. Would i be wise to get rid now. I know the final value is guaranteed even if the car is worth less but i believe that only works if i'm trading in for another Ford and i'm going over to a Renault.The annoying thing is that i saw an older zetec in the dealer selling at £10.000. Surely my car must be worth more than that.. Quote Link to comment Share on other sites More sharing options...
MONDEO TXS 2.2 Posted December 10, 2015 Share Posted December 10, 2015 Of course your car is worth more than that - to you. The stealer will add around 2k to what they give you on resale & this is why you've seen the older Zetec up for 10k, for which they probably paid less than 8k I'd be tempted to keep it to the end of the contract - but that's just my opinion. 2 Quote Link to comment Share on other sites More sharing options...
chrisroberson99 Posted December 10, 2015 Share Posted December 10, 2015 May I ask why you want to change a car when it barely has 1000 miles on the clock! Quote Link to comment Share on other sites More sharing options...
nashy Posted December 10, 2015 Author Share Posted December 10, 2015 sorry 11,000 need something bigger now to carry some work related gear in...would have gone for a bigger ford but not over keen on the powershift and i want to stick with an auto. The Renault EDC box seems much better. Quote Link to comment Share on other sites More sharing options...
alexp999 Posted December 10, 2015 Share Posted December 10, 2015 Would a trailer be no good for your Fiesta? Quote Link to comment Share on other sites More sharing options...
DieselPig Posted December 10, 2015 Share Posted December 10, 2015 Its common for dealers to tell you there may be equity left after the plan, generally there is none! Their incentive is to offer you a good deal on the next car you buy from the dealer, in your case you are buying something else so the dealer gets a low mileage well cared for car to stick on the forecourt at an inflated price. The extras are worth nothing, the plan is based on the base car and the final value is the trade value of the vehicle not retail, win win for the dealer. 2 Quote Link to comment Share on other sites More sharing options...
Philf1 Posted December 10, 2015 Share Posted December 10, 2015 You'll get more selling private have a look on autocar to get an idea on value then pay your finance off rest is your deposit Sent from my iPhone using Ford OC mobile app Quote Link to comment Share on other sites More sharing options...
JayG90 Posted December 10, 2015 Share Posted December 10, 2015 I'd of fainted if the dealer said that to me. I was looking at changing around 2 months ago and was in talks. I was offered £6,000 for mine - I have a 2011 Zetec S at 39,000 miles at the time! So how they work that out on yours!? I have never done PCP, but I am guessing you pay interest? So maybe that is why the figure is different. I had a settlement figure one month of around £10,100. I called back 3 months later after paying £900 off it and I owed £9,700 I'll let you do the math! Good luck with whatever you choose though! I've just decided to keep mine. Quote Link to comment Share on other sites More sharing options...
Paramanic Posted December 14, 2015 Share Posted December 14, 2015 See me I generally don't do pcp I do Hp though And never really buy brand new cars like my car when I got it only done 15k miles only just 1yr old and got it for £9,750! Quote Link to comment Share on other sites More sharing options...
Paramanic Posted December 14, 2015 Share Posted December 14, 2015 Ps in love with car am keeping it for a while and not really caring a out second hand price Quote Link to comment Share on other sites More sharing options...
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