After 47 years, Ford has announced it will stop manufacturing its iconic Fiesta model in June 2023 despite being Britain’s most-owned car and the most desirable for new drivers.
That’s because the company is focused on its electric future and meeting the demand for its SUV models.
The Fiesta is also a firm favourite among first-time drivers, thanks to its cost efficiency, compact size and easy handling.
So, is it the right time to be buying a second-hand Ford Fiesta and what should young drivers look out for as prices shoot up? James Armstrong, CEO at Veygo explains.
Why has the cost of used Fiestas jumped so high?
According to recent research, some ‘nearly new’ Ford Fiestas are being sold for slightly more than brand news ones, due to long waiting lists and shortage of supply.
This has been an upward trend for a while, in reaction to Ford suspending new Fiesta orders earlier this year due to supply chain issues, and it’s expected to become harder to get your hands on one following the recent announcement that the model is being scrapped in June 2023.
First owners of cars usually pay a premium for the privilege and experience fast depreciation in the first 12 months of ownership – estimated between 15 and 35%. But the Fiesta is bucking the trend, thanks to a buoyant second-hand market, supply chain delays and no new models being released.
Will it be easy and affordable to get Fiesta parts in the future?
Currently, the annual maintenance cost of a Fiesta is roughly £492, compared to £580 for the average vehicle. Being Britain’s best-selling car for so long, there are a lot of parts available and in circulation.
But further down the line, Fiesta spare parts may become harder to find and therefore more expensive after production has ceased. If you’re looking for a used Fiesta, the newer the car the more chance you have of sourcing parts easily in the future.
What are the red flags when buying a used Fiesta?
As demand grows for the used Fiestas left in circulation, buyers must be diligent to avoid being conned and not settle for a sub-standard or dangerous vehicle.
When looking to buy any second-hand car, always ask to see the V5C registration document and check the details including who is the registered keeper, does it have a watermark, are there any spelling mistakes, does the VIN (vehicle identification number), engine number and colour match the details on the form. You should also check the vehicle has a valid MOT.
If the seller does not let you test drive the Fiesta or inspect its interior, this is a big red flag.
If you’re looking for a second-hand Ford Fiesta, make sure to do your research on the average market price for similar models and specifications to avoid paying over the odds.
Be wary if the price of the Fiesta is low and seems too good to be true – there is probably a good reason for this.
How many miles should you look for on a used Fiesta?
When you are buying a used Fiesta, check that the miles line up with how old the car is. On average a car should drive about 10 to 12 thousand miles a year, so a 5-year-old car should have around 60,000 miles on it. If the number is significantly higher, check with the owner why this may be and the same goes for if it has a very low mileage.
The MOT and service history should show you whether the vehicle has been maintained well and had replacement parts, such as a cam belt and brake discs, when needed.
Over 100,000 miles is often seen as the cut-off point for when a car becomes potentially risky to buy, but if it has been well looked after based on the documents you have seen, it could do you well for a few more years yet.