MK6 Golf Resale

[Greg Roles]

I feel very lucky to be able to buy new cars thanks to car allowances at my employers. The fine print is a moot point in comparison! Getting out of any financing early is always going to hurt, but yeah, I would be shocked in your case as well.

[MACCAA]

A Novated Lease is taken in the name of the private buyer.If your employer agrees,it can be "novated' to them ie they make the payments.If you leave the resposibility for the payments is yours and yours alone.
Who do you think makes the payments if you remain unemployed,or your new employer declines to take on the lease?
Your payments remain the same as when you signed up for the lease-whether you're employed or not.The current value of the car is irrelevant.
The lease is in your private name,and you signed up for $x dollars a month for X years.
Whoever advised you otherwise hasn't a clue what they're talking about.
I was a Financial Controller for 30 odd years and did or had a few Novated leases in my time.
Look at your lease and see who's name it's in.....

[Timbo]

MACCAA is 100% correct. There will be NO change in your payments with the new employer. All that will happen is that the new employer will take over the payments out of your pre-tax salary as part of your salary package. However, there can be a trap here, because some employers have their own lease arrangements, and sometimes won't take on lease payments to another leasing company that is not the one they usually deal with. In this case, you may have to negotiate with their lease company, who will pay out your current lease company at the current payout figure, which has nothing to do with current market value. In fact, that payout figure may shock you...it may be close to the original sticker price, due to interest and early payout penalties. These are the traps of novated leases, and they can be very costly.

[alebonau]

havent posted back here for a while. things move slowly when changing jobs, dealing with two lease companies getting them talk to each other and exchange information plus all the signing of stuff thats required and to go back and forth.

To confirm back, some facts. so far anyways from what can see...

There is no re-financing that occurs as said previously, the finance continues as previously which is through a 3rd party anyways. and is the case with most leases I imagine.

The FBT base does change. And yes glass's value is the basis. It is now $36k. Yes it is a fair drop I know for a rrp $56k car thats only 4 months old. But who pays rrp ? I certainly didnt and the lease company knows that . as to actual resale who knows would have to sell it to find out ! but yeah if anything based on glass guide I would be pretty dissapointed !

ps another thing based on glass guide and is a bit of a bonus is insurance, its dropped ! about $500 a year ...yipee !

and overall due to above factors, my lease payments have indeed reduced. so definitely a bonus

ps as far as any costs to change leases, so far there is just the one documentation charge, which is $260 so not much in the scheme of things. and will be more than offset by the $700 surplus that my lease is in at the present which will be refunded to me once the novated lease comences with the other company

[ethosguy]

Sounds like an OMFG turned into not a bad thing...

[pom829]

I'm looking at trading in my 2010 VW Golf 103 TDI DSG, Sports Pack. I've now realised I want something a bit sportier (GTI, but would love a R but can't afford the extra cash) and also a car that I can modify a bit more.

I was shocked to see the current valuation from car sales for mk6 Golf's, I know this figure is only a average and depends on milage and condition but I didn't think I'd be looking at loosing nearly 15k after one year (not even that yet).
I've checked other valuations sites and they're all about the same

I'm just wondering if anyone else out there has traded in their mk6 Golf for a higher spec model and if so what sort of value they got for their Golf.

I understand the biggest depreciation is in the first year but 30% ouch!

Trade in figures from carsales.com

MK6 Golf 2.0 TDI DSG
6sp SD Diesel Turbo 4cyl 2.0 1968cc
Average Private Price+ $27,800 - $30,700
Trade In Price Guide+ $23,000 - $25,900
Average km+ 15000 - 25000


MK6 Golf GTI DSG
6sp SD Premium Unleaded Intercooled Turbo 4cyl 2.0 1984cc
Average Private Price+ $35,000 - $38,400
Trade In Price Guide+ $29,300 - $32,700
Average km+ 15000 - 25000

MK6 Golf TSI DSG
7sp SD Premium Unleaded Turbo 4cyl 1.4 1390cc
Average Private Price+ $25,700 - $28,500
Trade In Price Guide+ $21,100 - $23,900
Average km+ 15000 - 25000

[Prodigy]

Unfortunately you are always going to lose more if you trade your car in. I know it can be a pain sometimes but try and sell it privately if you can.

[shakespeare]

Also I'd only use the prices from these sites as a guide only, additionally when they show depreciation as a percentage this is normally calculated off the list price and excludes on road costs etc, but as Prodigy mentioned private sale would be the way to go if you can!

[Corey_R]

I'm looking at trading in my 2010 VW Golf 103 TDI DSG, Sports Pack.

Trade in figures from carsales.com

MK6 Golf 2.0 TDI DSG
6sp SD Diesel Turbo 4cyl 2.0 1968cc
Average Private Price+ $27,800 - $30,700
Trade In Price Guide+ $23,000 - $25,900
Average km+ 15000 - 25000

Hi mate, I've merged your thread into here as it was already on this topic.

Can I just point out that this that the MK6 Golf 2.0 TDI DSG is only $34,490 RRP. Now it's a given that when you purchase a new car you immediately lose money. No dealer or private buyer is going to reimburse you for the onroads and taxes you pay. So really, going on the average private price, you've lost between $3790 to $6690.

Trading in a car is the lazy way to sell your car. Selling privately takes more effort, but nets more return. It's convenience weighed against better return. If you are concerned about resale, sell privately.

The next thing is that it's also well known that it's the first year where you take your big hit in depreciation! Actually, it's as soon as your drive out the dealer's drive away. The only exceptions to this are generally if the car is seen as a collectable, or a new model has such a backlog of orders that there are people willing to pay sticker (or close to, or more) to avoid the wait.



Finally, options can often mean little in terms of $ come resale. Mostly options just separate your car from other cars of the same model in the purchasers list of cars to inspect. i.e. You have the sportpack, so some purchasers are looking for that option, others might avoid that option, etc.


Anyway, the Golf resale is actually quite strong, but selling a car in the 1st year of ownership is always going to hurt. If you were not aware of these things before purchasing a brand new car, then I guess this is an expensive lesson.

[pom829]

Cheers for all the info, Corey R you sound like my wife talking, her advice is to sell the car privately. I'm just lazy.
Don't get me wrong I do love the TDI but who wouldn't want a GTI!
Thanks