Re-sale Value on 6R Polo GTI Discussion

[Bassik]

Does everyone think this recall hype will eventually fade and the resell value may level out. I can't imagine that at this rate the GTI with 50,000kms in a years time would drop under the $20k mark? That's almost hitting 9N series.

In NSW the prices vary so much.... at least a 10k gap.

I'm looking at selling asap, in my eyes less warranty/more kms = greater loss.

[Finance_Analyst]

Not sure where you got the 20k price with 50k but there are a truck load of mk5 golf Gtis out there with sensible mileage for the cash or less. And some 'mk6 gtis are coming into the 20ks now, more so when the new model comes out. And of course, the golf is always worth more as it cost more new.

The recall will take years - like the lingering memory of the qld floods of 2011 still affects property prices

[team_v]

Not sure where you got the 20k price with 50k but there are a truck load of mk5 golf Gtis out there with sensible mileage for the cash or less. And some 'mk6 gtis are coming into the 20ks now, more so when the new model comes out. And of course, the golf is always worth more as it cost more new.

The recall will take years - like the lingering memory of the qld floods of 2011 still affects property prices

You would be surprised at just how quickly people forget..........
There have been a number of houses near my place that have sold for above market value even though they had water covering more than half the house.

Give it 6 months to a year and people will be back in droves.

[Bassik]

Not sure where you got the 20k price with 50k b

Pretty sure I saw a Polo GTi with 26,000kms on it going for $23k... just saying if the car had 50kms on it that would put it around the $20k mark.

thanks not even counting ONO price.

[Finance_Analyst]

Fair enough but the tumbling value of mk6 Gtis can't be discounted either. Plus the polo gti has lots of competition like the Toyota 86 and Hyundai veloster turbo to name a few

[Bassik]

Might be also important to note that the new law that Kevin Rudd has annouced puts a massive halt on leasing cars companies as there is no longer any tax benefits.

This may have a big impact on resell value but may also boost the small petrol saving cars ie Polo due the savings from not being worth it to lease cars via businesses anymore.

[kaanage]

the new law that Kevin Rudd has annouced puts a massive halt on leasing cars companies as there is no longer any tax benefits.

Wow - BMW and Mercedes must be $hitting bricks with this one. This makes me SERIOUSLY think about changing my vote.

[MJKooLio]

So there wont be any tax benefits from when? That's why I bought a new car, as it's my work car! I work for my self btw, so..... I've been claiming on it... anyone link me to a easy to understand article of what Krudd is talking about? Vote... or not to vote...

[kaanage]

You'll be fine. It nails the people who salary sacrifice for a car that they allegedly use for work 80% of the mileage (but in reality, probably use it for personal reasons 80%).
Changes afoot for Novated leases

[tigger73]

I think the problem for the OP is that they got "sold" a finance package which really does not suit the amount of driving they do and the resale of the car is never going to match the payout figure for the car.

Finance guys can do some "magic" with the numbers to get you into a car but it really doesn't help you at the other end when you need/want to move on. My rule of thumb is to never take the car for an "effective" term more than 5 years. By having 5 years plus a balloon you're effectively taking the loan over 7 years which almost always ends in tears (unless you're planning to keep the vehicle that long).

You'll either need to stump up with a wad of cash or roll the problem over into a new car (which only tends to compound things). So the only thing you can do now is to start saving so that you can meet the short-fall when you come to change over. Unless the finance company can take higher payments but if it's on a chattle mortgagte I'm guessing that they won't give you that flexibility.