MK6 Golf Resale

[alebonau]

Changing jobs, looking at options to transfer my novated lease to the new company, looked up market value, which is what will be transferred across at and nearly chocked in shock !


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

What is even more scary if sold second hand you would know you'll be lucky to get glass value either. This for a car only 4 month old ? I thought vw had good resale this is plain cr@p. Mine had a sticker price of 56k !

The irony of it all this actually helps my situation as my new lease will cost me less, and also be able to buy the car cheaper at the end of 3 year lease.

Scary *

[MurphyTheElf]

Most of these estimations are a complete crock. Check out Carsales - there is not a single MK6 on offer for under 40k.

[v0a]

arent those prices based on basic gti's with no options whatsoever

[cameronp]

Most of these estimations are a complete crock. Check out Carsales - there is not a single MK6 on offer for under 40k.

Hell, when I looked a few months ago there weren't even any Mk5 GTIs for under $35k! As the dude in The Castle said, tell 'im hes dreeeaaaming. The prices on there now look a little bit more realistic, but still suggest a really strong resale value for the GTI.

[ratedr]

Ignore redbook... Highly unreliable on reality!

I am currently selling Pug 308 XTE HDi, sticker on road, 52k with all options (I paid 45). Redbook is quoting half that for 2 year old car. In reality, its a rare model in high demand. Only a limited number imported with the spec and therefore, there is a market price well beyond redbook for my car.

Also, from perspective of someone that has used novated leasing before, have you considered just taking out a car loan and claiming through tax? You can vary your regular tax rate down if you are using the car for work/study purposes. That's what I do... Works out better than hassle of doing 25,000kms a year and having to fork out FBT (if using statutory method)... I was worse off for doing it that way. Leasing has you pay a whole lot more interest than a car loan too as you are deferring the principal. Car loan may be slightly higher repayments, but you are cutting interest in half, interest rates are generally lower and when you come to trade, you will come out a lot more favourably. That is better for me and my circumstances, yours will obviously vary.

[pologti18t]

The irony of it all this actually helps my situation as my new lease will cost me less, and also be able to buy the car cheaper at the end of 3 year lease.

You sure about that? Who is taking a bath on the money tied up in the car?

[alebonau]

You sure about that? Who is taking a bath on the money tied up in the car?

From the horses mouth ! Well from the lease manager anyways in the end will come down to what they see as market value. I'm just doing my own due diligence, how much say I have in the matter god only knows !

Re actual resale, as anyone would know what something actually sells for is only ever what anyone is willing to pay for it

As someone who got rid of my previous car 4 months ago, I can tell you the used car market is pretty much shot ! Good luck if anyone is selling. And yeah re car values, options and all that mean Jack, all those expensive options you heap on a car at purchase you never get your money back on.

Ps re buying vs re-leasing will certainly weigh up, part of due diligence. Buying new was no question buying through the company lease was a better way to go, but in re-leasing will certainly re evaluate the options

[JustCruisn]

The valuation is based on an un-optioned car with New Price (standard): $42,990
Top of private sale is almost 84%.

[pologti18t]

Ignore redbook... Highly unreliable on reality!

I am currently selling Pug 308 XTE HDi, sticker on road, 52k with all options (I paid 45). Redbook is quoting half that for 2 year old car. In reality, its a rare model in high demand. Only a limited number imported with the spec and therefore, there is a market price well beyond redbook for my car.
.

Let's us know how much you sell it for eventually.
I am guessing that if that model was really as in demand as you say then you wouldn't have got such a huge discount when you bought it....

[FJ Steve]

Let's us know how much you sell it for eventually.
I am guessing that if that model was really as in demand as you say then you wouldn't have got such a huge discount when you bought it....

Exactly....you can't have it both ways.

[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