MK6 Golf Resale

[Corey_R]

Says the MK6 forum members who expect to get the same % discount on their MK6 Golfs

[dodgeGTI]

I think someone hasn't explained a novated lease to you correctly. Market value isn't what's tranferred over to your new employer, the balance of your lease is. Where do you think the difference between what you owe and market value goes?? Say you owe 50k and market value is now 38k. Just cause you change employers the finance company is not going say, while you work for Company A you owe 50k, but if you go to Company B, we'll revalue your car at 39k and write off the depreciation and let you start the lease again with a new payout figure.

[elisiX]

Yup - unless there is more to this scenario, dodge is right.

[Maverick]

Car Valuation results: Volkswagen - drive.com.au


VOLKSWAGEN *GOLF*GTi*1K MY10
5D HATCHBACK, 2010, 2.0*lt, 6 SP AUTO DIRECTSHIFT

View valuation details Estimated Valuations:
$29,520 - $36,080*private*sale
$28,000 - $32,800*trade*in
$39,100 - $46,920*dealer*price

The valuations are useless when run on a new car under a year old. Look at what it gives you for a 2 year old car and a 4 year old GTI.

And a MY08 2008 build which is the previous generation gives

VOLKSWAGEN GOLF GTi 1K MY08 UPGRADE
5D HATCHBACK, 2008, 2.0 lt, 6 SP AUTO DIRECTSHIFT

View valuation details Estimated Valuations:
$25,920 - $31,680 private sale
$24,600 - $28,800 trade in
$34,700 - $41,640 dealer price

Car Valuation results: Volkswagen - drive.com.au

And a MY06 2006 GTI gives

VOLKSWAGEN GOLF GTi 1K
5D HATCHBACK, 2006, 2.0 lt, 6 SP AUTO DIRECTSHIFT

View valuation details Estimated Valuations:
$23,040 - $28,160 private sale
$21,900 - $25,600 trade in
$30,900 - $37,080 dealer price

Car Valuation results: Volkswagen - drive.com.au

Look at the valuations for a Toyota Corolla which hold their values very well.

TOYOTA COROLLA ASCENT ZRE152R MY10
5D HATCHBACK, 2010, 1.8 lt, 4 SP AUTOMATIC

View valuation details Estimated Valuations:
$15,390 - $18,810 private sale
$14,800 - $17,100 trade in
$21,600 - $25,920 dealer price

Car Valuation results: Toyota - drive.com.au

And a 2 year old one

TOYOTA COROLLA ASCENT ZRE152R
5D HATCHBACK, 2008, 1.8 lt, 4 SP AUTOMATIC

View valuation details Estimated Valuations:
$13,590 - $16,610 private sale
$13,100 - $15,100 trade in
$19,300 - $23,160 dealer price

Car Valuation results: Toyota - drive.com.au

[Angryman]

I've had lease vehicles for the past six years and dodge is on the money. I'm also in that very situation at the moment after leaving the police with my 2007 GT Sport. I now need to redo the lease with my new employer but because I've had the car 3 years I'm in a much better spot.

The problem with Leasing is that for the first 15 months in the case of a three year lease option) all your doing is paying all the interest on the loan. I remember with my 2004 WRX which I bought new for 48k...after 12 months I still owed 47k on it (that was a 5 year lease option)

Now in my current situation I've finished my three year lease on the GT Sport so the car I leased 3 years ago for $37k I can now release now with a residual of only 15k meaning that my pre and post tax contributions are heaps cheaper.

I don't envy your position with a car that's only 4 months old. You could be up for more if you have to refinance the lease

[alebonau]

by the way am not really sure where got the impression the lease has to be refinanced, from what I have seen so far both lease companies are talking to each other. lease companies dont finance anyways. it is usually a third party that does, all the new lease company does is come in and continue the finance arrangements still through the same 3rd party. I understand on some ocassions this doesnt work due to lease company not willing to deal with certain 3rd for whatever reason. but doesnt appear to be the case so far.

anyways re market value, you would think a lease manager of a multinational would know what she is talking about. And what I posted is what she said. but yes as mentioned I will report back what actually happens.

anyways this thread is not about leasing. its about resale value and my shock of seeing where its at for used golf GTI.

for your info in doing some further research here is a another thread stumbled across from another forum re golf gti resale...not a pretty sight,

GTI re-sale value - Page 3 - VW GTI Forum / VW Rabbit Forum / VW R32 Forum / VW Golf Forum - Golfmkv.com

appears glass valuations dont just get used for resale..

hrb93
Autocross Champion


Drives: GOLF
Join Date: Jan 2008
Location: NEWCASTLE
Posts: 112
Rang up today to renew the insurance on the wifes Gti, 1 year old 15,000kms. AAMI said Glass guide $36,000.

RRP: $53,000

So much for holding value.

[hooba]

Nice thread title, do you work for the News Limited press by any chance? Today Tonight?

You first drive of the car cost at least $5K, that's what it would cost to convince someone to buy a used car over a brand new one fresh off the boat. Every car does it, because people need a real incentive to buy a used car over an identical new one. Wait until 2 or 3 years to be able to accurately judge the resale value of the car.

Move along people, nothing to see here.

[G-rig]

Where do you think the difference between what you owe and market value goes??

Maybe they just 'write it off' as Kramer would say .

The valuations are useless when run on a new car under a year old. Look at what it gives you for a 2 year old car and a 4 year old GTI.

A dealer I spoke to also said that the trade in value wouldn't be much different trading in a brand new car vs a 3yo one, that's how bad it is.

Any car will lose a bit for the first 1-2 years but still thought it would be easier selling GTI's for a similar price to new with the demand and discounts some people get compared to others. The second hand market is pretty dead, despite the fact people could get an almost new car for a bit less if it matches what they want.

Redbook and all those sites seem to under quote a fair bit though and mostly benefit used car salesman IMO. Not worth selling a car too cheap.

[clubbie]

You guys are a dead set funny.

You get a 13% discount from RRP and then forget resale values do not include dealer delivery, stamp duty, rego etc.

So take the GTI with a rrp of $42990 get a discount down to $38+k. Then take depreciation from that figure. Presto. $32k for a year old car. Options mean only a few added $$$$ (compared to what you paid) come trade-in time and alot when the dealer puts your highly optioned car on the lot.

BTW if you did not know that before buying the car, I have this really nice bridge for sale that looks like a coat hanger.

As for Carsales the word "optimistic" does come to mind. BTW my 118TSi was over $6k cheaper than anything I could find on the net for the spec.

[Angryman]

by the way am not really sure where got the impression the lease has to be refinanced, from what I have seen so far both lease companies are talking to each other. lease companies dont finance anyways. it is usually a third party that does, all the new lease company does is come in and continue the finance arrangements still through the same 3rd party. I understand on some ocassions this doesnt work due to lease company not willing to deal with certain 3rd for whatever reason. but doesnt appear to be the case so far.

anyways re market value, you would think a lease manager of a multinational would know what she is talking about. And what I posted is what she said. but yes as mentioned I will report back what actually happens.

anyways this thread is not about leasing. its about resale value and my shock of seeing where its at for used golf GTI.

for your info in doing some further research here is a another thread stumbled across from another forum re golf gti resale...not a pretty sight,

GTI re-sale value - Page 3 - VW GTI Forum / VW Rabbit Forum / VW R32 Forum / VW Golf Forum - Golfmkv.com

appears glass valuations dont just get used for resale..

Lucky bugger! because I went from State Government to Private enterprise have to refinance and renegotiate the whole bloody thing!