Tunner Posted September 5, 2005 Report Share Posted September 5, 2005 Figures below are based upon an average GTI, a few quid will be allowed above these prices for optional extras if you are lucky! Volkswagen Golf GTI 2.0 Petrol 5-door Hatchback 6 Speed Manual Front Wheel Drive Year: 2005 05 Mileage: 5,000 Part-exchange Price: Excellent condition: £16600 Average condition: £14900 Below average condition: £13300 Link to comment Share on other sites More sharing options...
Mollox Posted September 5, 2005 Report Share Posted September 5, 2005 Source? Link to comment Share on other sites More sharing options...
Tunner Posted September 5, 2005 Author Report Share Posted September 5, 2005 I made them up! Like $cuk did I. From a dealer pricing system. Folk are not buying cars especially high insurance groups when petrol is a quid a litre. Second hand prices are falling faster now, than within the last 24 months. Link to comment Share on other sites More sharing options...
Tunner Posted September 5, 2005 Author Report Share Posted September 5, 2005 www.glass.co.uk mirrors the dealer prices. According to those in the know, the only saleable additional option on a second hand GTI is leather. This is the same for most cars. A 'used' punter will not fork out the £700 on Xenons, therefore the addition of thses and other 'high value' options will not be re-couped by an owner selling. Leather is worth maybe £500 currently. Not my figures, they are from a dealer pricing system, so dont have a go at me if your car has plummeted in value! Link to comment Share on other sites More sharing options...
CRJ_1 Posted September 5, 2005 Report Share Posted September 5, 2005 And your point is??? Tell me something I don't already know The GTI, like almost all new cars, will not apprecite and if I was worried about the depreciation I wouldn't have forked £23k for a VW! Life's tooooo short bud, enjoy what you have Link to comment Share on other sites More sharing options...
spankit Posted September 5, 2005 Report Share Posted September 5, 2005 Thank goodness I bought a golf! Taking those figures, being quoted, if I had bought almost any other car i would be in negative equity! As CRJ 1 points out second hand car car values only go one way, south, Link to comment Share on other sites More sharing options...
RedRobin Posted September 5, 2005 Report Share Posted September 5, 2005 As CRJ_1 says: "Life's tooooo short bud, enjoy what you have" - I couldn't agree more! But I nevertheless do appreciate that Tunner is only trying to be helpful to those (I think and hope: very few) people who are very focussed on their GTI's depreciation. I find it difficult to understand how anyone who enjoys any car, not just the GTI, which is truly fun to drive can think of it in terms of depreciation. Link to comment Share on other sites More sharing options...
jasper900 Posted September 6, 2005 Report Share Posted September 6, 2005 Exactly!!! I worry about the depreciation issue as much as I worry about the price of petrol creeping up a few pence - not a bit!!! Not saying I am wealthy but life is for living. Picked my GTI up on 1/9/05 and am amazed. I love it and smile every time I look at / drive it. How pleased I am not to have squandered the £25.5k on a merc or beemer (now there's a depreciation to talk about!!). GTI DSG DIAMOND BLK SAT NAV 6CD SUNROOF 18S REAR PK SENSORS LEATHER HIGH VIS COMP LUX PK Link to comment Share on other sites More sharing options...
scotw Posted September 6, 2005 Report Share Posted September 6, 2005 Its just another consideration, how much will it depreciate. VW's tend to do quite well, espec GTi's in good shape. £16,600 is £4k less than it was bought for or about 20% which is pretty much what I'd expect in the first year. If we get 50% after three we're doing just fine. If I was really worried I'd have bought another Fiesta like my wifes for £6k new, but wheres the fun in that Link to comment Share on other sites More sharing options...
aswall Posted September 6, 2005 Report Share Posted September 6, 2005 I think you'd only retain 50% after 3 yrs if you had a basic car with no options on it and even then you'd be pushing it as in three yrs it'll look a bit old hat I don't care though, cars are not investments. If you want that buy a Merc diesel and feel smug - and bored Link to comment Share on other sites More sharing options...
Sparticus Posted September 6, 2005 Report Share Posted September 6, 2005 Depreciation on a new car is always worse early on. Can be scary, but will level out in years 2 and 3. If you see 50% of your cars initial cost after 3 years then you will have done well. Discounts are also starting to appear on the GTi, which will soften residuals. People are also switching to diesels for extra mpg. If VW release a high performance diesel Gti ( not GT ) then expect a big hit on the second hand value of your Gti as these will be more desirable. The diesel varients of every type of car depreciate slower than their petrol equivelants. Link to comment Share on other sites More sharing options...
SMB Posted September 6, 2005 Report Share Posted September 6, 2005 [ QUOTE ] Its just another consideration, how much will it depreciate. VW's tend to do quite well, espec GTi's in good shape. £16,600 is £4k less than it was bought for or about 20% which is pretty much what I'd expect in the first year. If we get 50% after three we're doing just fine. If I was really worried I'd have bought another Fiesta like my wifes for £6k new, but wheres the fun in that [/ QUOTE ] quite right, for a 9 month old gti with 7k on it , you would have had to seriously trash it not to get £16 plus, vs the 20k starting price. I was looking at an audi A3 3.2, spec'd up it was £30k, trade in 5 mins after i would have driven it away, woul dhave been £19k, so actually i think the £16 plus for a car that's now 2 registrations old is rather good. Link to comment Share on other sites More sharing options...
mikemod Posted September 6, 2005 Report Share Posted September 6, 2005 HOLD EVERYTHING ..... STOP THE PRESS NEW CAR DEPRECIATES Link to comment Share on other sites More sharing options...
RedRobin Posted September 6, 2005 Report Share Posted September 6, 2005 Yep, it's hard fact: New cars depreciate....Most cars depreciate (unless you find you've got a Type 35 Bugatti in a shed somewhere on your property). Spartacus wrote: "If VW release a high performance diesel Gti ( not GT ) then expect a big hit on the second hand value of your Gti as these will be more desirable." ....Funny you should say that, because when I was thinking of buying a Mk5 GTI I read rumours of a GTI diesel version later. I now think that those were early rumours about the recently announced GT, but I did seriously consider whether to wait for a diesel GTI. Of course it would certainly be a good car but look at the example of the BMW petrol and diesel versions - Petrol has a sharp edge. Surely none of us buy such cars as the GTI for their fuel consumption....We buy them for the pure enjoyment of their performance and the style and safety which comes with it. Captain Sensible was screaming at me to buy a Mk5 TDI DSG (a great car) instead, but I locked him in the garden shed! I cannot tell you how pleased I am that I bought the current Mk5 GTI - Whatever the fuel consumption and whatever the depreciation, I simply enjoy driving it (and, to be honest, looking at it too!). Golfs generally and deservedly have less depreciation than many other cars and my gut feeling is that the combination of so few being built and its award winning excellence plus GTI pedigree, will lessen depreciation RELATIVELY....For anyone who's that bothered! Link to comment Share on other sites More sharing options...
R32North Posted September 6, 2005 Report Share Posted September 6, 2005 But remember depreciation is not a straight downward dive.... it will level out a bit after a few years when the price enters a bracket which makes it affordable to more and mroe people. So, while in the initial 9-12 months the price may drop drastically you should see a certain amount of slowing / leveling out in years 2 and 3. There are lots of people who look for a car that is 2-3 years old and where the price is more reasonable, say £12-£14k and not £18-20k, and this is where you should find a lot more potential buyers for a used GTi. Link to comment Share on other sites More sharing options...
simkna Posted September 6, 2005 Report Share Posted September 6, 2005 The second hand ones for sale at the minute certanly haven't depreciated much. Short supply and long wait for new cars is keeping the used GTi's at almost new values. Si. Link to comment Share on other sites More sharing options...
Ken1 Posted September 6, 2005 Report Share Posted September 6, 2005 The extras are half the fun , who cares if you don't get much ££ back for them. Having said that I had a Mark IV 180 6 speed with Recarros etc which cost me €34,000 in Ireland and traded it for €22,000 after 3 years against my mark V. Thats not bad 65% residual after 3 years ! Link to comment Share on other sites More sharing options...
Snoopy Posted September 6, 2005 Report Share Posted September 6, 2005 [ QUOTE ] www.glass.co.uk mirrors the dealer prices. According to those in the know, the only saleable additional option on a second hand GTI is leather. This is the same for most cars. A 'used' punter will not fork out the £700 on Xenons, therefore the addition of thses and other 'high value' options will not be re-couped by an owner selling. Leather is worth maybe £500 currently. Not my figures, they are from a dealer pricing system, so dont have a go at me if your car has plummeted in value! [/ QUOTE ] Known this for years as familys been in motortrade for generations its the same with any car, after a few years expect leather to make little to no difference. Thats why when i see all these high spec cars on forums with specs that you really don't need and people say you really need this or really need that i always chuckle to myself afterall a £20K GTI drives just as well as a £25K GTI. Link to comment Share on other sites More sharing options...
sburke1 Posted September 6, 2005 Report Share Posted September 6, 2005 Hi Ken. Where you located in Ireland? Link to comment Share on other sites More sharing options...
Richy Posted September 6, 2005 Report Share Posted September 6, 2005 I would think you would get at least 18k selling privately. Mind you, a new one imported from Select is 18.5k (UK Spec). I was going to wait and buy a year old one but i think i am just going to import instead. Probably go for the EOS with the GTI engine though Link to comment Share on other sites More sharing options...
Ken1 Posted September 6, 2005 Report Share Posted September 6, 2005 Seamus, Near Naas in Kildare , but from Dublin. And you ? Ken Link to comment Share on other sites More sharing options...
Cleybrooke Posted September 6, 2005 Report Share Posted September 6, 2005 This great news - I've spent so many years in Alfa it makes these figures look like a fairy tale come true... Link to comment Share on other sites More sharing options...
aswall Posted September 6, 2005 Report Share Posted September 6, 2005 [ QUOTE ] Thats why when i see all these high spec cars on forums with specs that you really don't need and people say you really need this or really need that i always chuckle to myself afterall a £20K GTI drives just as well as a £25K GTI. [/ QUOTE ] Not true, the extras can make a big difference to the driving experience of a car. It's not a question of not really needing them, I want them and I can afford them so I get them. I couldn't care less about how it affects the value of the car in years to come, I'll have moved on to something else long before that. Just because you don't want (or can't afford) extras doesn't mean you're right and others are wrong. Someone may be chuckling at you for buying a basic GTI when you could have had a Polo GTI for less money and more fun driving it and who's to say they're not right Link to comment Share on other sites More sharing options...
spankit Posted September 6, 2005 Report Share Posted September 6, 2005 So, rhetorically, what have we learnt so far...? The Golf mkv gti will depreciate in the same way as every other vehicle. Not quite, most if not all of the other new vehicles, available as alternatives to the gti, will hit the floor a lot harder. The dealers are offering a lot less then you might expect as a trade price for the golf gti. Any dealer is going to offer silly money for your car, whatever its manufacturer. The very meaning of a ‘dealer’ is to buy low and sell high and have a profit. The ownership cost of performance cars is high in comparison to non performance cars. Well consider the gti as a bargain compared to the cost of any other performance cars. Ownership of a gti is moderately expensive, but justifiable. Ownership of any other performance car could be likened to sitting in a shower tearing up £20 notes. A new car looses money because it has become second hand. Every time it’s used it is worth less than when new. Its a consumer product, not sure what else to expect. A cult following, a demand, a strong community and the sense of belonging/ownership can significantly ease the depreciation of your chosen vehicle model. So my gti forum boys and girls, your cars value is in your own hands, go forth and spread the gti gospel and convert the heathens who drive in the darkness. Link to comment Share on other sites More sharing options...
RedRobin Posted September 6, 2005 Report Share Posted September 6, 2005 Brilliant! spankit!! REALLY good post! I think you have summed it all up perfectly!! Link to comment Share on other sites More sharing options...
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