Will Fiesta prices continue to decrease in 2024 or should I buy now?

[Seanderer]

Hey all,

I've been interested in getting a FiST for a long while now and regrettably have waited long enough for prices to go up.

Tomorrow I'll be checking out a three(?) owner 2018 Orange Spice Fiesta St, 70k miles, with Recaros and the seller is asking $15k obo. Carfax looks fine, it comes with summer/winter wheels and tires, and the following mods:

- Mountune radiator and intercooler hoses
- Swift lowering springs (comes with stock)
- Front ebc red stuff brake pads
- Stainless steel braided brake lines front and rear
- Mishimoto oil catch can
- Yakima roof rack, aftermarket shift knob, gas pedal offset bracket, RA mud flaps

The owner says he hasn't autocrossed or tracked it but the mods the 'spirited'. Oh, and the 'fax says it was imported to the US from Canada.

Seeing what other people have paid, I'm having a tough time understanding what's considered a good deal.

So, what is the general consensus on US prices nowadays and would you expect them to continue decreasing? I'm driving a boring Outback 3.6r and going slightly crazy.

Thanks and I hope to join the community soon!

 

[M-Sport fan]

That would be considered a fair price for that mileage, given that the car is aesthetically and mechanically near perfect otherwise.

The Canadian cars were only sold with the Recaro package, as they could not even opt for the base seats at all.

The prices might go down even more, but with this batshit insano used car market who TF knows.

 

[Alkoran]

If it comes from Canada, do a thorough check of the underbody, rear fenders and wheel wells, hatch, and lower door inner panels for rust. If it came from a province with virtually no winter or a place that doesnt use much salt it's should be ok, but if it comes from anyting more eastern than ontario, you might have a bad surprise!

 

[Dialcaliper]

That sounds like a fair price. Keep in mind there’s usually only a little fluctuation in price from year to year. The recent years’ spike in prices is kind of an outlier, supply chain issues made new cars less available, which drove up demand for used cars. That effect has largely settled out as the ripple effects of various supply shortages have mostly settled out.

Most of the decreasing price of cars is actually driven by mileage, not age, and only a little bit from decreased demand as the features become dated or obsolete compared to new cars.

So by asking “will this model of car be cheaper next year”, the answer is “yes, but the cars you’ll be looking at will generally have higher mileage”. Basically, a car like that one you’re looking at will have probably have 80-85k miles, not 70k, and so will be worth less.

 

[Dpro]

if you find what you feel is a good d3al at this point buy it prices have already dropped significantly on our cars in the last 6 months. Holding out for cheaper at this point is just denying yourself the privilege of owning an extremely fun car to drive. If it’s 15k OBO go look at it and if it’s worth it dicker. Worst thing that can happen is you offer him a lower number that he does not accept.

 

[Seanderer]

Appreciate the responses! I viewed the car this morning but unfortunately the Denver rain turned to snow so I didn't get a chance to put it through the wringer on the test drive nor look underneath it. Even so, it felt great! Love the torque, love the Recaro's, and the color looks great in person.

The seller is out of town the next two weeks so once he's back, I'll get a PPI. The only possible issue I noticed (besides my rusty shifting), was squeaking/chirping taking off in first gear when cold. Any ideas what it could be? RMM?

That would be considered a fair price for that mileage, given that the car is aesthetically and mechanically near perfect otherwise.

The Canadian cars were only sold with the Recaro package, as they could not even opt for the base seats at all.

The prices might go down even more, but with this batshit insano used car market who TF knows.

Aesthetically it looked immaculate. We'll see about mechanically haha.

That's good to know. Were there any other differences between US/Canadian cars?

This market is wild. Similar year and mile BRZ/86 are anywhere in the low to upper $20k's. Don't get me started on cost of rent...

If it comes from Canada, do a thorough check of the underbody, rear fenders and wheel wells, hatch, and lower door inner panels for rust. If it came from a province with virtually no winter or a place that doesnt use much salt it's should be ok, but if it comes from anyting more eastern than ontario, you might have a bad surprise!

Good call, it lived it's first 2 years in Toronto! I'm from the upper Midwest myself and no stranger to rust; the jack points on my 318ti were GONE. Nasty stuff. I'll give it a look over when I next see it.

That sounds like a fair price. Keep in mind there’s usually only a little fluctuation in price from year to year. The recent years’ spike in prices is kind of an outlier, supply chain issues made new cars less available, which drove up demand for used cars. That effect has largely settled out as the ripple effects of various supply shortages have mostly settled out.

Most of the decreasing price of cars is actually driven by mileage, not age, and only a little bit from decreased demand as the features become dated or obsolete compared to new cars.

So by asking “will this model of car be cheaper next year”, the answer is “yes, but the cars you’ll be looking at will generally have higher mileage”. Basically, a car like that one you’re looking at will have probably have 80-85k miles, not 70k, and so will be worth less.

That's enlightening, I've not thought of it from that perspective. I'd suppose it's dependent on location as well. So few in my area, and the ones I see are $16k+ and/or salvage title. The 2016 posted for sale on these forums from TX is almost $3k cheaper.

if you find what you feel is a good d3al at this point buy it prices have already dropped significantly on our cars in the last 6 months. Holding out for cheaper at this point is just denying yourself the privilege of owning an extremely fun car to drive. If it’s 15k OBO go look at it and if it’s worth it dicker. Worst thing that can happen is you offer him a lower number that he does not accept.

I like this answer. If it sells between now and the PPI or he won't budge on price, there's more Fiesta's out there (and driving the Subie a bit longer won't kill me).

 

[Alkoran]

That's good to know. Were there any other differences between US/Canadian cars?

To the extent of my knowledge, it was the only difference. The only options we could get were navigation, sunroof, and finally, black wheels. Being a canadian car, you'll also get DRL de facto.

 

[Intuit]

Will Fiesta prices continue to decrease in 2024 or should I buy now?

Might be priced lower, but will cost you more... if you catch my drift...

 

[tri-pedaler]

The only possible issue I noticed (besides my rusty shifting), was squeaking/chirping taking off in first gear when cold. Any ideas what it could be? RMM?
.

My motor mounts chirp a good bit in the cold, but not at all when warm. The transition point is around 45F for me. I’m running all stock MMs at the moment (autox rules) but used to have a Whoosh RMM and it was similar.

 

[Seanderer]

Had a shop do a PPI this morning and everything checked out - no issues found. I offered $13.8k based on research and he came back with $14k so we shook and I now own a new (to me) ST! I'll be sure to take some pictures and post an introduction thread once I have it registered... on Tuesday.

I really appreciate the advice everyone.

 

[Dpro]

Had a shop do a PPI this morning and everything checked out - no issues found. I offered $13.8k based on research and he came back with $14k so we shook and I now own a new (to me) ST! I'll be sure to take some pictures and post an introduction thread once I have it registered... on Tuesday.

I really appreciate the advice everyone.

congrats.