The "Second Hand" / "2nd Hand" MK6 Golf Thread

[txjseries8]

Hi everyone

This is my second post, and as you can tell, I'm looking at buying a Mk6 gti

What I was hoping you could all help me out with is what you would value / pay for a 2nd hand vehicle with the following specs:

Mk6 2009 MY10, 5 door
<25,000kms
DSG
Leather seats, sunroof, media device interface

Would love to get behind the wheels of a gti as soon as I can, but want to make sure I pay the right amount for it.

Any advice appreciated, and if you know someone, or are someone selling something similar, send me a PM!

Thanks

Nick

[Molotov]

There's more than one way to skin a cat. Redbook is a starting point but based on my own observations, tends to underprice them. For a 5 Dr DSG MY10 it's giving a Private Sale range of $30,700 - $33,800 but assuming 30,000 - 50,000 km's and np options.

There's one on carsales with the same spec as the one you mentioned but with 67,500km's and they're asking $36,500. They cheapest one is asking $35,000 and has $43,000km's on the clock and no sunroof.

The rest aren't really worth going into because they strike me as people trying to sell a near 2 year-old car for only a few thousand less than the retail price of a new one. I've enquired about one myself and the guy wants $40,000 for a 1 year old three door with no real options. You could probably get it new for about $43,000.

To recap, based on the pricing online, I wouldn't be surprised if they're hoping to settle for 40k flat. Use Corey_R's spreadshet to work out what they would have paid 'drive-away' and assume they got a 5-10% discount in negotiations.

Personally I wouldn't offer any more than about 36k because you've only got about a year of warranty left. But take my advice with a pinch of salt because I'm still catching a train and waiting for the dealer to call me back... its been weeks now

[hentaiboy]

In my experience Golf owners delude themselves that their cars don't depreciate like everyone else's. Find a car you like on Carsales.com.au and offer them 5% less then what they're asking. They'll sell.

[SilvrFoxX]

I have no knowledge of what 2nd hand cars are worth but I would temper the view that people selling their cars are being unrealistic. The delays in delivery of new cars is such that they can ask higher than anticipated prices. All you have to do is look at in stock prices compared to those that you have to wait for your spec , they are higher because they know you can get it now.

2nd hand cars with low mileage have the benefit of being ready to drive away and generally people that buy the GTI / R take pretty good care of them so they will be in near new condition

[txjseries8]

Like most people would, I jumped on redbook to get a rough idea, but was surprised to see such a huge difference in the rate at which the website was depreciating the vehicles compared to what the market was asking. I think it's a combination of the fact that the golf gti's probably depreciate at a slower rate compared to other vehicles due to the lack of supply and high demand of the new vehicles, and also with sellers being slightly unrealistic in their expectations.

It's interesting walking into the dealership, you just feel like the sales people don't bother trying to sell the car, because they know it's reputation will sell itself, easiest sales gig ever!

I'm thinking an offer of 37k max.... So pretty much in line with Molotov's suggestion. Although the k's are low, it's a 2yr old car, so you'd expect a decent depreciation hit.

Thanks for the input

[MIRSAD]

As per Red Book:

Valuation Results:
6sp SD Premium Unleaded Intercooled Turbo 4cyl 2.0 1984cc
Average Private Price+ $32,300 - $35,600
Trade In Price Guide+ $26,900 - $30,200
Average km+ 30000 - 50000
Price When New (RRP)+ $42,990

Average Private Price ($33,950) is ~ 79% of the Price When New (as per Red Book)

(Depreciation of ~ 21%)

Calculate 79% of "Your desired Options" ... add it to $33,950 ...

I would start from there

than Car condition, mileage,...

[Molotov]

It's interesting walking into the dealership, you just feel like the sales people don't bother trying to sell the car, because they know it's reputation will sell itself, easiest sales gig ever!

As I've said in other posts, that pretty much echoes my experience and it's steering me towards the competition.

Patience is a virtue when buying cars so if time is on your side, test-drive a few, make a few genuine offers and wait for a bite.

Let us know how you go.

[Darth]

I have no knowledge of what 2nd hand cars are worth but I would temper the view that people selling their cars are being unrealistic. The delays in delivery of new cars is such that they can ask higher than anticipated prices. All you have to do is look at in stock prices compared to those that you have to wait for your spec , they are higher because they know you can get it now.

2nd hand cars with low mileage have the benefit of being ready to drive away and generally people that buy the GTI / R take pretty good care of them so they will be in near new condition

Hi Silver, while I accept that you know nothing about second hand car prices, would you mind clarifying:

1. What are "anticipated prices"? And does asking "more than anticipated prices" not mean advertising for more than they think they will get?

2. Isn't being unrealistic the same as advertising for more than they ultimately sell for?

3. If people aren't being unrealistic, does this mean everyone is getting the initial asking price for their GTIs / Rs?

My understanding was that sellers rarely achieve their asking price as sellers typically ask more than they are prepared to accept on the off chance that someone will actually pay it and, more particularly, to provide some room for negotiation.

Does the practice of asking more than they are prepared to accept not make such sellers in some way "unrealistic"?

The idea that GTI / R owners are more fastidious than owners of other makes and models is an interesting angle (albeit I've seen numerous GTIs with blackened front wheels), as is the proposition that GTIs / Rs are more likely be in "near new condition" than other makes and models.

I am just wondering on what basis you state (no need for statistics!) that GTIs / Rs are so different from the rest of the used car market for vehicles of similar age. A lot of people are also fastidious about their Hyundais, let alone Mazdas, Hondas, Subarus, Toyotas and BMWs, aren't they?

After all, if you look at how many near-new used cars there are for sale, you'd be forgiven for thinking that it was a buyers, not a sellers, market, which would tend to undermine the proposition that GTI / R sellers can ask "higher than anticipated prices", wouldn't it?

Do the rules of the second hand car market not apply more or less equally to most makes of cars?

Cheers
Darth Veyron

[SilvrFoxX]

It was a general comment.. it had no bias associated with it, merely a potential explanation why 2nd hand GTIs have the appearance of high prices. But to all your questions the fact is the price of anything is based on what the market is prepared to pay.

[JPanDAX]

Optioning a car up is not always about trying to get better resale down the track! I got sunroof and leather because I like them, not because it was going to be a good or bad idea for resale. I also think the Jacky fabric seats in the golf look like crap, that's my opinion, I say screw tradition sometimes

I didnt buy as I also imagine many others didn't buy their car to get a better resale. I bought it because I like the car and enjoy sitting in it and driving it. It's a nice place to be!

But I do agree on the comments that options do not necessarily mean better resale, but then again, no options can also mean worse resale as factory options are hard to add or emulate later



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