GolfGTIforum.co.uk
Model specific boards => Golf mk5 => Topic started by: Edition30 on 09 January 2009, 17:18
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Seriously condsidering selling my Edition 30.
Currently in a part time job and im absolutely skint every month so I think the sensible thing to do is get a cheaper car. I have finished Uni and still looking for a career to follow even when I do get a job I think I will be pushing my spending limits. Im only 22, 23 a week today so there is plenty of time to get my arse back into a GTI in the future. :smiley:
Im also wanting to get out of my parents house which is another reason why I am looking into selling up. It will be greatly missed (if I do get rid) but it has to be done. :sad: :cry:
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Sensible move mate. Plenty of time to get the nice thing in life especially at your age.
Get a MK2 GTi for now, you won't regret it mate!
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Stick her in Pistonheads, sell privately, dont go to dealer , they with offer you next to nothing. Put it in the for sale section on this site aswell as www.mk5golfgti.co.uk,all mk5 owners on there that might be after an edition30.
Sorry to see you go, like has been said, geta Mk2 for the next best GTi :wink:.
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How much....... :smug:
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Settlement figure is £17,569.98 so you can have it at that.
It will be on PH slightly more as no doubt someone will try knock me down anyway.
Might look into leasing a car, but I like the power so would have to be something half decent...or spend around £9k on something VAG.
Really dont know what to buy. Was thinking about a Mini Cooper, but like the practical size of the Golf so something of similar size.
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mk4 anniversary 180bhp, good looking car
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No, i need to stick with an R32 lol
You could get a mk4 r32 for that sort of money!
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mk4 anniversary 180bhp, good looking car
+1
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Im thinking of more along these lines...
(http://www.surreyprestigecars.co.uk/images%5C201290308.jpg)
Seen one at a touch over £10k 2.0 TDI 140 with 48k on the clock iirc. Could try bargain him down a little.
webuyanycar offered me £11,805 lmao. Erm...pass on that thanks.
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Any toys on the Ed 30? I am not looking to buy it, but this thread is also an ad, so whats it got?
Best of luck, and has been said - Mk2 all the way!
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If only i had finished my home improvment loan. :cry:
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I would defo go down the MK2 route!! thinking of getting a good example myself as a daily runner. Try sitting on the rest of the cash as you never know whats round the corner :smiley:
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Any toys on the Ed 30? I am not looking to buy it, but this thread is also an ad, so whats it got?
Best of luck, and has been said - Mk2 all the way!
Pretty much standard apart from darkened glass on the rear and pearl black paint. Not sure if the heated wing mirrors are standard or not :undecided:
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Seen one at a touch over £10k 2.0 TDI 140 with 48k on the clock iirc. Could try bargain him down a little.
webuyanycar offered me £11,805 lmao. Erm...pass on that thanks.
Yeah, I'm sure you're not suprised at that!! The issue at the moment of course is that second hand cars (even those which are a few months old) are taking a real battering on used car values.
Glasses Guide trade values do not make for pleasant reading if you're looking to sell..... and dealers just aren't interested in buying back cars like this as people don't have the cash to buy them.
Good luck with the sale and hope you get what you want for it.
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Like i said, dont trade up to traders cus they dont have the money to give you what the car is ACTUALLY worth. these figures of sub 12k are total rubbish. Id be looking for at least 15k. (Not sure what reg and mileage of yours though).
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for 9 - 10k you will pick a lower milage mint MK4 ani ! After my MK5 ownerships ends I think I will be getting a lesser car as it will be nice to have a bit more money in my pocket for weekends and I really think I will be going back to the MK4 in the form of the anni. I love them.
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Mk4 R32!! :grin: :grin: :grin:
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http://search.autotrader.co.uk/es-uk/www/cars/VOLKSWAGEN+GOLF/Ne-2-4-5-6-7-8-27-44-49-53-61-64-67-103-133-146-236,N-87-91-240-4294966995-4294967159/advert.action?R=200801326083980&distance=47&postcode=cr0+7nj&channel=CARS&make=VOLKSWAGEN&model=GOLF&min_pr=8000&max_pr=11000&max_mileage=&vehicleYearOfManufacture=2003&vehicleRegLetter=53
(http://pictures.autotrader.co.uk/imgser-uk/servlet/media?id=842314105)
£9,999
^ YES YES !
OR
http://search.autotrader.co.uk/es-uk/www/cars/VOLKSWAGEN+GOLF/Ne-2-4-5-6-7-8-27-44-49-53-61-64-67-103-133-146-236,N-25-91-240-4294966995-4294967159/advert.action?R=200902326600888&distance=352&postcode=cr0+7nj&channel=CARS&make=VOLKSWAGEN&model=GOLF&min_pr=5000&max_pr=11000&max_mileage=&vehicleYearOfManufacture=2002&vehicleRegLetter=52
(http://pictures.autotrader.co.uk/imgser-uk/servlet/media?id=846548419)
£6,995
Both puka cars and both (imo) silly cheap.
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Must say that anni does look very :cool: :cool: :cool:
Equally the R32 does sound and go :cool: :cool: :cool:
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Must say that anni does look very :cool: :cool: :cool:
Equally the R32 does sound and go :cool: :cool: :cool:
Remap that anni to 210 and she will be just as quick as a MK5. Ok, she will still have the awful handling of the MK4, but nothing some anti roll bars and a bit of tinkering wouldnt be able to help with.
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Must say that anni does look very :cool: :cool: :cool:
Equally the R32 does sound and go :cool: :cool: :cool:
Remap that anni to 210 and she will be just as quick as a MK5. Ok, she will still have the awful handling of the MK4, but nothing some anti roll bars and a bit of tinkering wouldnt be able to help with.
But then remap the mk5 and it wont be as quick! I vote R32, purely for the noise :evil:
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Must say that anni does look very :cool: :cool: :cool:
Equally the R32 does sound and go :cool: :cool: :cool:
Remap that anni to 210 and she will be just as quick as a MK5. Ok, she will still have the awful handling of the MK4, but nothing some anti roll bars and a bit of tinkering wouldnt be able to help with.
But then remap the mk5 and it wont be as quick! I vote R32, purely for the noise :evil:
For about the same price you could get a slightly modded R32 that would blow the Anni away and still handle :wink: I vote R32 too!!! :grin:
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Whats happening with your speeding case by the way Edtion30? Any news?
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Whats happening with your speeding case by the way Edtion30? Any news?
None as of yet, thats another thing that will play a big part in the choice on my next car (if I do get rid of it), cant see it being any good for my insurance!!
My Dad wants me to keep the ED30, all my mates do and I do but I have my doubts...think im best waiting to see what happens with a new job and my license over the next few months.
The R32 does look very tempting though I must admit. Keep it for a few years until im in a fairly decent job and the TWIN TURBO time haha.
My car is a July 2008 (08) with 8.5k miles on the clock whoever said they didnt know...
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The R32 does look very tempting though I must admit. Keep it for a few years until im in a fairly decent job and the TWIN TURBO time haha.
Now thats my kind of thinking :evil: :evil:
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If worried about cost an R32 isnt the most sensible thing you could buy . . . .
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If worried about cost an R32 isnt the most sensible thing you could buy . . . .
Yeah true, was abit of a joke anyway...
anyone know how much difference on road tax it is between a 2.0 tdi 140 fwd and the quattro?
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Tax is bases on emissions so it shouldnt matter if its fwd or 4wd. As long as its got the same engine, it will have the same tax.
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Tax is bases on emissions so it shouldnt matter if its fwd or 4wd. As long as its got the same engine, it will have the same tax.
Oh...got told it would be more as its heavier making it produce more emissions.
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Well yeah, if produces more emmisions then there will be higher tax, as mentioned above tax is based on emmisions. Do a google search and find out what emmisions each one produces and that will give you an idea.
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Youre biggest problem is your finance. You're not going to get much more than £15K for your car which leaves you with an outstanding balance on a car you don't own. In fact if it's on VW finance and not a personal loan you are going to have to prove you've paid it off before you sell it otherwise HPI will come back that it has outstanding finance on it.
I think you should keep it and continue paying for it otherwise you'll be even more out of pocket.
Nick
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I've got to agree. You will get nowhere near the settlement figure - I paid approximately that four months ago for my new, unregistered Edition 30. I won't tell you what I let my 04 Jag S-Type R for but it was painful :cry:
It really pains me to say it... The £11K trade figure does not surprise me in the current market :shocked:... based on that you'd be doing well to get the £15K suggested earlier :shocked:.
I'd stick with the Ed 30 if I were you...
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If worried about cost an R32 isnt the most sensible thing you could buy . . . .
Yeah true, was abit of a joke anyway...
anyone know how much difference on road tax it is between a 2.0 tdi 140 fwd and the quattro?
Based on Audi Sportback Sport 2.0TDi
From Apr 2009 Band F = £125
Based on Audi Sportback Sport Quattro 2.0TDi
From Apr 2009 Band G = £150
I know the VW Golf with the same engine in 2WD form is cheaper to tax than the Audi...
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Is your finance via bank personal loan or an hp finance deal specific to the car? If against the car you need to clear the full amount else the new buyer will be liable and you will end up in hot water.
If you go for something ridiculously cheap to insure, maintain and run such that your monthly outgoings reduce by a significant amount then you could justify selling your ed30 below your settlement figure. Say a citroen c1 (sorry this painful) ... And running that "car" saved you say £200 per month then in one year you will have clawed back £2400 say.
The trap of negative equity eh? I bought vw cos I of retention values, of course all that has went tits up the world over, may just have to ride it out myself and keep the gti until the bitter end. Or downsize now and accept less for mine but also safe in the knowledge that I am paying less for it's cheaper and duller replacement. Perhaps an economist can e plain the dynamics of this equation?
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Is your finance via bank personal loan or an hp finance deal specific to the car? If against the car you need to clear the full amount else the new buyer will be liable and you will end up in hot water.
If you own a car which is financed against the car and not yourself, you are not allowed to sell it by law because you don't actually own it until the finance is cleared. The only way to sell a car which is on finance is to get a personal loan to clear the finance from the car or trade it in so the car goes back into the trade.
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in future you may want to go down the lease route like myself. Cant explain how chuffed I am that I dont own my car. Would have lost approx 11k over the time i have had it... and with things due to get worse, it could have been much more.
Now the only person that looses out when its value drops is VW! And I obviously gain as the car will be available at the end of the lease for a knock down price with one owner (ME!! :grin:)
It really couldnt have worked out better... apart from the fact that I worked out that my car costs me approx £700pm although that includes vat, insurance, and juice. :undecided:
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For the sound of a Mk5 R32 that is £700 a month well spent!!! :laugh: :laugh: :laugh:
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in future you may want to go down the lease route like myself. Cant explain how chuffed I am that I dont own my car. Would have lost approx 11k over the time i have had it... and with things due to get worse, it could have been much more.
Now the only person that looses out when its value drops is VW! And I obviously gain as the car will be available at the end of the lease for a knock down price with one owner (ME!! :grin:)
It really couldnt have worked out better... apart from the fact that I worked out that my car costs me approx £700pm although that includes vat, insurance, and juice. :undecided:
yes but its not like your getting it that cheap,that r32 was around 25k new (no leather, front armrest and cruise if i remember), so then at a guess if you lease that car at 3 years its still going to cost you around 15k-16k (thats not inc road tax and petrol) and you still dont own it. then in 18 months when that car is3 years old its still going to cost around 7-8k to buy even in these bad times.
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if you have the mind set that your car is a set monthly expense then leasing is a way to go. If I had bought my gti new with all the options it would have cost circa £26k some 3 years 4 months later I get offerred £9.5k for it !! factor that into the monthly cost and you soon get an appreciation of the futility of new car ownership. Another £412 per month btw!! Leasing just allows you to pay that depreciation and walk away at the end to get a new shiney fresh one and start again, without having the hassle of owning a big ageing lump of hard to shift metal....
Having said all that, last car I leased I got buggered for end of lease costs so be wary ....audi wanted about £1k for two scuffed alloys and a trolley ding!
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does anyone know if you did lease your car for personal not business and you fell on hard times and could not pay, What happens then ?
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if you have the mind set that your car is a set monthly expense then leasing is a way to go. If I had bought my gti new with all the options it would have cost circa £26k some 3 years 4 months later I get offerred £9.5k for it !! factor that into the monthly cost and you soon get an appreciation of the futility of new car ownership. Another £412 per month btw!! Leasing just allows you to pay that depreciation and walk away at the end to get a new shiney fresh one and start again, without having the hassle of owning a big ageing lump of hard to shift metal....
Having said all that, last car I leased I got buggered for end of lease costs so be wary ....audi wanted about £1k for two scuffed alloys and a trolley ding!
to be fair you should know that when you buy a new car you dont get that much for your options when you come to sell,so you have got to be prepared to totaly forget about getting much money back for the options. So therefore 9.5k for a car that is 3 and a quarter years old that cost £19995 new basic is not that bad at all, esspecially in these times.
I know its hard to take when you get insulted with a px price but you should know this when you buy the car in the first place. its all part and parcell of buying a brand new car
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I do, absolutely. Just making the point about depreciation being a monthly "cost" we often forget about. Life is to short to live without toys :grin: I have tried poverty spec cars and groaned everytime I drove them.
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i try and look at it like this. if a car costs me £5200 a year in depreciation i aint done to bad, i could hire a focus or astra for £100 pound a week, but then i would be driving a focus or astra. but no im driving a decent car in the gti/r32 :smiley: thats how i get round depreciation mentally anyway :smiley:
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Looks like im going to keep it after all this...it is a fantastic car, puts a smile on my face when people check it out and hear it go :) and I really need to get my arse in gear and get a full time job which will help out a great deal.
Someone offered me £15,500 without seeing it, no doubt they will try knock me down even more if they did come to view it. I spoke to someone from VW finance and she said I could sell it then settle the remaining balance and another option I was thinking about is to get a personal loan and pay it off say over an extra year and reduce my payments that way. Depending on what happens with my speeding offence and with a job will make a choice for me about keeping the car.
If only my sister hadnt bought a new car I wouldnt have gone searching myself :grin:
I always said I would never buy a brand new car and here I am. Cant give it back until I have had it 50% of the contract either.
I also need to stop running all my mates around and random cruising when im bored this will reduce the wear of tires and my fuel costs a great deal.
Another quick question - I had a new engine after 4000 miles so would you get the car serviced when it hits 10,000 or wait till 14,000??
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I'd still service to time as it is only the engine that is new and they give the WHOLE car a service :wink:
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Another quick question - I had a new engine after 4000 miles so would you get the car serviced when it hits 10,000 or wait till 14,000??
You a new engine on an '08 car with 4000 miles on it?!?! WTF???? Did they forget to put oil in it or something when they did the PDI?
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:shocked: :shocked:
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Another quick question - I had a new engine after 4000 miles so would you get the car serviced when it hits 10,000 or wait till 14,000??
You a new engine on an '08 car with 4000 miles on it?!?! WTF???? Did they forget to put oil in it or something when they did the PDI?
Cracked block 'factory deffect'
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i.e. dropped at some point off of the hoist and onto the factory floor......jusst steeek it in die auto hans...thee steeering veeel is on die rechts, der stomperderlanders vill never notice...... :laugh:
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i.e. dropped at some point off of the hoist and onto the factory floor......jusst steeek it in die auto hans...thee steeering veeel is on die rechts, der stomperderlanders vill never notice...... :laugh:
:grin: :laugh: Something along those lines yeah. Had a fair few rental cars to play with, a 1.2 polo, 2.0 Jetta and a 1.6 Golf Plus :sick:
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in future you may want to go down the lease route like myself. Cant explain how chuffed I am that I dont own my car. Would have lost approx 11k over the time i have had it... and with things due to get worse, it could have been much more.
Now the only person that looses out when its value drops is VW! And I obviously gain as the car will be available at the end of the lease for a knock down price with one owner (ME!! :grin:)
It really couldnt have worked out better... apart from the fact that I worked out that my car costs me approx £700pm although that includes vat, insurance, and juice. :undecided:
yes but its not like your getting it that cheap,that r32 was around 25k new (no leather, front armrest and cruise if i remember), so then at a guess if you lease that car at 3 years its still going to cost you around 15k-16k (thats not inc road tax and petrol) and you still dont own it. then in 18 months when that car is3 years old its still going to cost around 7-8k to buy even in these bad times.
Mine is only a 2yr lease and would have covered 30k when it goes back, so will be worth about 12k or less i would imagine (in 9months time).
The actual cost of leasing the car is £370 (inc vat) so has cost me approx £8800 over the 2yrs. Where as buying it would have lost me around 13k. Plus the fact that the tax is paid for me so add another £500 or whatever tax is these days.
Overall a saving of about £5k which im more than happy with :smiley:
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Only thing I would say is that you cant mod lease cars can you?
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Only thing I would say is that you cant mod lease cars can you?
nah so many clauses with leasers it just aint worth it IMO, capped mileage etc wouldnt be any good for me.
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Same here ^
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in future you may want to go down the lease route like myself. Cant explain how chuffed I am that I dont own my car. Would have lost approx 11k over the time i have had it... and with things due to get worse, it could have been much more.
Now the only person that looses out when its value drops is VW! And I obviously gain as the car will be available at the end of the lease for a knock down price with one owner (ME!! :grin:)
It really couldnt have worked out better... apart from the fact that I worked out that my car costs me approx £700pm although that includes vat, insurance, and juice. :undecided:
yes but its not like your getting it that cheap,that r32 was around 25k new (no leather, front armrest and cruise if i remember), so then at a guess if you lease that car at 3 years its still going to cost you around 15k-16k (thats not inc road tax and petrol) and you still dont own it. then in 18 months when that car is3 years old its still going to cost around 7-8k to buy even in these bad times.
Mine is only a 2yr lease and would have covered 30k when it goes back, so will be worth about 12k or less i would imagine (in 9months time).
The actual cost of leasing the car is £370 (inc vat) so has cost me approx £8800 over the 2yrs. Where as buying it would have lost me around 13k. Plus the fact that the tax is paid for me so add another £500 or whatever tax is these days.
Overall a saving of about £5k which im more than happy with :smiley:
all the 2 year lease deals ive seen are 23 months and a deposit of 6 months payments. Also fair play to you if you can get that car for 11k from a dealer in 6 months, but the way you go on about leasing its tho you've discorvered life on mars :smiley:you have just dropped at little bit lucky with credit crunch and all that. its not for me leasing just not the same as owning it but everyones different
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R32UK - Have they told you how much you can buy it for at the end of the lease?
Mine is on PCP which is £350 a month over 3 years with a balloon payment of just over £8,000 if I decide to buy it...or can give it back after 50% of the contract or at the end and walk away.
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No word on the buy back value yet.
The reason I bang on about leasing is because, not you or the dealers have any idea what the car will be worth in a couple of years time. I have always leased my cars and on the last two I have made a nice healthy profit from selling them after the lease is finished. The cars are usually offered at the trade price as thats what they expect from them when they go round the block.
Look at it this way:
£8800 - total cost of leasing
£12000 - cost of purchasing car
£20800 - my total cost
-£13500 - What I would possibly look to sell for with 1 owner from new
£7300 - Is what it has cost me to drive a brand new R32 for 2 yrs!
Not bad at all in todays climate :wink:
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Only thing I would say is that you cant mod lease cars can you?
nah so many clauses with leasers it just aint worth it IMO, capped mileage etc wouldnt be any good for me.
Very true about the modding. but tbh I wouldnt really change/moddify (unless it was performance based). Remaps for example can be easily removed.
The milage cap is something that doesnt work for everyone. It can be changed during the lease though if you feel your going over.
BIG Plus is no road tax either!!! :smiley:
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*** NEWS FLASH ****
340pm for a brand new S3!! Could be my new car I have just spotted there!! :grin: :grin:
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No word on the buy back value yet.
The reason I bang on about leasing is because, not you or the dealers have any idea what the car will be worth in a couple of years time. I have always leased my cars and on the last two I have made a nice healthy profit from selling them after the lease is finished. The cars are usually offered at the trade price as thats what they expect from them when they go round the block.
Look at it this way:
£8800 - total cost of leasing
£12000 - cost of purchasing car
£20800 - my total cost
-£13500 - What I would possibly look to sell for with 1 owner from new
£7300 - Is what it has cost me to drive a brand new R32 for 2 yrs!
Not bad at all in todays climate :wink:
No word on the buy back value yet.
The reason I bang on about leasing is because, not you or the dealers have any idea what the car will be worth in a couple of years time. I have always leased my cars and on the last two I have made a nice healthy profit from selling them after the lease is finished. The cars are usually offered at the trade price as thats what they expect from them when they go round the block.
Look at it this way:
£8800 - total cost of leasing
£12000 - cost of purchasing car
£20800 - my total cost
-£13500 - What I would possibly look to sell for with 1 owner from new
£7300 - Is what it has cost me to drive a brand new R32 for 2 yrs!
Not bad at all in todays climate :wink:
Your total £20800, mine 19k for my brand new r32 decent spec r32 to do what i want with it,sell when i want,mod it, give it my sister, cash is always king in my eyes :smiley:
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...... If this credit crunch hadn't hit us you would have paid what £24k?? I don't think the case for or against leasing has been made yet... I have seen new r32 2 year leases with www.myfleet.co.uk for circa £270 pm, 2 years + 3 months up front.
Only real downside to leasing is the potential costs to repair any damage at the end of the term, when audi took back their A6 I got shafted for scuffed alloys and a scratch on the underside of the front splitter (you would never have noticed it unless the car was on a ramp)... The cost to me £1000. They didn't even repair it, they punted it straight to an auction house!!! I contested it stating they were committing fraud as they cannot charge vat on work they didn't do. On the end I gave them £300 to make the credit collection Nazis go away.
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^^^ i presume this price is plus vat
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http://www.yourfleet.co.uk/
Offer of the month ! - Golf R32 -£286pm over 24 months. Thats a pretty good deal to me.I over looked leasing when purchasing my MK5. Only thing is the limited miles thing would have been an issue to me, but could have extended. Does really matter anymore as Iv got the MK5 now.
Anyone fancy an R8 for £1296pm :D ? Would still need to find £7776 from somewhere for the initial payment.
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^^^^ yes thats a good price but 6 payments up front + 24 payments means you are no better off than buying if you want to. There aint no such thing as a free meal :smiley:
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Your total £20800, mine 19k for my brand new r32 decent spec r32 to do what i want with it,sell when i want,mod it, give it my sister, cash is always king in my eyes :smiley:
The difference is... and a big one at that. That I have never had to pay out a lump sum of 25k or even 19k for that matter. Nor have I payed any interest, or road tax.
Dont disagree about cash being king.. :wink:
Although mine has all the spec I could possibly want except mfsw and highline. dont want the leather and cant think of anything else I could need.
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http://www.yourfleet.co.uk/
Offer of the month ! - Golf R32 -£286pm over 24 months. Thats a pretty good deal to me.I over looked leasing when purchasing my MK5. Only thing is the limited miles thing would have been an issue to me, but could have extended. Does really matter anymore as Iv got the MK5 now.
Anyone fancy an R8 for £1296pm :D ? Would still need to find £7776 from somewhere for the initial payment.
Thats not a bad price but I have just spotted one for £237pm (+vat) Which all in all comes in at £100pm cheaper than what I am currently paying. Think I might just be getting a new for old R32 :grin: :grin: Might go for the blue this time tho :cool:
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Cash will always be king but who the fook has 20k just lying around ?!? :shocked:
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If I had a buyer for my gti I would go for it. I thought it was a 3+23 deal though not 6+23, will have another look later. Just did it's 6 however they also do a 3 deal too, have asked for a quote I will report back :wink:
Trouble for me is that I may get say £10.5 or £11k privately I owe more on the personal loan, so would have to pay some of that ok top of the £273 per month. Ps that is inclusive of vat. It is confusing there are 2 figures ok 2 different pages, check out all volkswagen offers there it shows £273 however it is also quoted on another page as offer of the month £286. :rolleyes:
I do like the simplicity of the personal lease product pay small sum up front say 3 payments £1k, then stump up your set monthlies and walk away at the end or get another new shiney chick magnet :laugh:
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Cash will always be king but who the fook has 20k just lying around ?!? :shocked:
me
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r32uk what type and where did you get your lease?, ill be interested in that deal where you dont leave any lump sum/deposit just straight 24 months payments and walk away. The other half wants a car and i never really looked at leasing before, all i remember in 2005 leasing gti was around £440 plus vat and a deposit and didn't come no where near buying outright pricewise (i know they can charge more on brand new model)
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Interesting, been watching this discussion as after selling my GTi last year I am hankering to get back into the comforting arms of another (preferably a second hand Edition 30) and am speaking to a couple of people about theirs that they have for sale.
As part of my return to the Golf I did consider leasing a new VW scirroco... cost is 3+ 23 with the monthly cost at £305... that includes road tax - so that would have been total of:
Cost over 2 years: £915 + £7105 (23 x 305) = £8020, less £170 a year for tax gives: £7680, which is £3840 a year...
Comparing this is buying a Scirroco at say £20k, would you assume after two years it would be worth more than £12,320? The likely answer is "yep" but then you need to factor in that most people would fund part of the purchase with a loan... so, say you have £10k cash and £10k loan... that means that your probable real purchase price for the car is more like £21k (which is based on the fact that a 10k loan over 2 years you would pay back £11k at 7.9% apr) so then the real question becomes... would you be able to sell your car after two years for £13,320...
After spending several hours pondering all this and getting twisted about I just though "ahh f*ck it" - I like to OWN a car :smiley: Hence why I am now looking!!
Now, if I could just flog my current run around to someone I would be able to get back in the fold!!! Anyone want an Alfa 147 for £3750? :wink: :wink:
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Other thing is, your paying out for something you never actually Own, If you had the choice of buying outright or paying Lease payments, £400 a month approx outgoings is alot to spend out every month on a car! :shocked:. (almost have a mortgage payment based on 100k).
If you are fortunate to have the money then Buy it, theres nothing better then to look out onto your driveway with the thought of nothing to pay for it, it owes nothing except fuel!!!. I couldnt justify leasing tbh but everyones situations are different.
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I can see the arguments for and against leasing.
As for the looking out of the window and owning the car point.. Its yours as you are the registered keeper. It wont be taken off you.. its yours!!! And you can take consolation in the fact that when they do come and take it away... there will be a nice new shiney car stood there as your next lease car :cool:
For me the figures stack up, and if thats the case then its a no brainer. I certainly dont have 20-25k to blow straight on a car, although understand that some of you do. But why would you want to put 20k of your own money into a depreciating asset?? Surely 20k put elsewhere at a time like this would yield a much better return. In fact I would be confident enough to know I could turn 20k in to £28k over 2 yrs and hope that it would pay for itself (but thats me).
The reason that many people rule out leasing is that they dont fully understand the concept (no offence). Lets say you want a car but dont have alot of money to put down for whatever reason, but are confident of making a regular payment. When you go out and buy a car from the dealership be it with finance from them or the bank, you are paying back the total amount of the loan + interest on that amount.
However.. when you lease the car you are simply paying for the amount the car will depreciate + interest on that amount. The depreciation amount being much lower than had you gone down the finance route. The depreciation is calculated by the leasing company and hence the mileage set from the off, although this can be changed.
I run a business too so as you can understand it also has a few small but reasonable benifits. BUT the main reason for leasing, and this really is the main reason.. is that having a set budget for your car is a definate bonus. You know exactly what you pay each month, and dont have to worry about residuals/new models/known faults developing.
I have listed a few more advantages below :wink:
1. You can drive it like you stole it (from cold) Which I do!! :evil:
2. Road tax paid for
3. Free VW roadside assistance
4. Totally hassel free motoring (if anything goes wrong, its under warrenty)
5. They do allow for small damage depending on the mileage (VW do anyway) e.g dents upto 25mm diameter, stone chips on bonnet
6. If you take it back to the garage that owns it, they do like to take extra care of it (it is going to go back to them eventually).
7. You get a brand new car every 2yrs, depending on how long your lease is or how often you want a new one.
8. The beeeatches love it!! :wink: :grin:
Its not for everyone.. but its an option. I certainly wouldnt have even looked at the R32 before I found that deal. Was actually looking at the GTi and the dealership quoted me a price of just under £500. Went on the net and found one for about £350 without any extras. Then I was pointed to the R32 and the rest is history.
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What's the reality of all this car "ownership" ? I bet most people fund the purchase from finance of some sort, at the end of the repayments they trade in and get another loan ...... Do they ever really own the car anyway? :rolleyes:
I paid my own money for a brand new mini, my cash.... It felt like I left the dealership with the sun roof open and the money escaping in a trail behind me...
It's certainly not an open and shut case
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I can see the arguments for and against leasing.
As for the looking out of the window and owning the car point.. Its yours as you are the registered keeper. It wont be taken off you.. its yours!!! And you can take consolation in the fact that when they do come and take it away... there will be a nice new shiney car stood there as your next lease car :cool:
For me the figures stack up, and if thats the case then its a no brainer. I certainly dont have 20-25k to blow straight on a car, although understand that some of you do. But why would you want to put 20k of your own money into a depreciating asset?? Surely 20k put elsewhere at a time like this would yield a much better return. In fact I would be confident enough to know I could turn 20k in to £28k over 2 yrs and hope that it would pay for itself (but thats me).
I run a business too so as you can understand it also has a few small but reasonable benifits. BUT the main reason for leasing, and this really is the main reason.. is that having a set budget for your car is a definate bonus. You know exactly what you pay each month, and dont have to worry about residuals/new models/known faults developing. I have listed a few more advantages below :wink:
1. You can drive it like you stole it (from cold) Which I do!! :evil:
2. Road tax paid for
3. Free VW roadside assistance
4. Totally hassel free motoring (if anything goes wrong, its under warrenty)
5. They do allow for small damage depending on the mileage (VW do anyway) e.g dents upto 25mm diameter, stone chips on bonnet
6. If you take it back to the garage that owns it, they do like to take extra care of it (it is going to go back to them eventually).
7. You get a brand new car every 2yrs, depending on how long your lease is or how often you want a new one.
8. The beeeatches love it!! :wink: :grin:
Its not for everyone.. but its an option. I certainly wouldnt have even looked at the R32 before I found that deal. Was actually looking at the GTi and the dealership quoted me a price of just under £500. Went on the net and found one for about £350 without any extras. Then I was pointed to the R32 and the rest is history.
From that list points 3 and 4 ,you would like to think you'd get the same service if the car was yours! ( under manufactures warranty)
Point 6 again should be the same but as we know some dealers seem to not give a to$$ who owns it whether its their car or your own hard earned.
Point 7 you can do the same, but instead of paying monthly , you take a hit on depreciation and after 2 years on lease, you will be paying in one hit rather then monthly outgoings, which in the current climate everyones trying to cut there Monthly costs/outgoings. Based on a £400 a month, you pay approx £9600 in 24 months :shocked:, or take the depreciation route and hope after 2 years the cars loses less then the Lease figure payed out monthly. :sad:
My advice as there's no winners in this, is to buy a cheap banger that owe's you nowt, and keep your hard earned till the climate gets better.
i know wear and tear, ie tyres are replaced free in some cases but i doubt you'll see much benefit after only 2 years of brief ownership.
When you sit and add this up in both choices, there's not much in it.
Keep the car, dont sell up , not the time for calling time on a PCP agreement, ride the storm Edition30 :wink:
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^^^ Yep!! Like I said everyones situation is different. Everyone knows you loose a packet when you buy a new car... this just helps soften the blow slightly.
Buying a year or so old is usually the best route to go down. But again means you have money tied up in the car.. which I simply do not wish to do.
As for buying a banger.. just couldnt take the risk of my car not starting/breaking down on a morning. :undecided: Although have found myself fishing round a few MK1's until I can find a deal im happy with (or should I say the new Gti is out :grin:)
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why would anyone want to put 20k into a car, because i do make money out of money which is elsewhere which pay for my cars. you would be a bit silly to 20k on a car if thats all your savings. but then i think its silly to pay £370 a month on a car if you got no money/savings behind you,i would do other things with it to turn it in to more money to pay for my cars, but thats my way thinking.
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why would anyone want to put 20k into a car, because i do make money out of money which is elsewhere which pay for my cars. you would be a bit silly to 20k on a car if thats all your savings. but then i think its silly to pay £370 a month on a car if you got no money/savings behind you,i would do other things with it to turn it in to more money to pay for my cars, but thats my way thinking.
I like your thinking but what would you do to make more money out of £20k? What if you lost it all?! :shocked:
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why would anyone want to put 20k into a car, because i do make money out of money which is elsewhere which pay for my cars. you would be a bit silly to 20k on a car if thats all your savings. but then i think its silly to pay £370 a month on a car if you got no money/savings behind you,i would do other things with it to turn it in to more money to pay for my cars, but thats my way thinking.
I like your thinking but what would you do to make more money out of £20k? What if you lost it all?! :shocked:
im not saying i can make that much money out of 20k in a year to cover my depreciation (but i do cover my depreciation out of more than that), the money i spend on my car is my reward to myself. if i lost my money, just sell my car and start again, i had nothing to my name 6 years ago , just go back to my old workhorse astra diesel.
It has opened my eyes up about leasing reading this thread and is something i will look into when buying my next car.Not for saving money cause i still be think it all works out round about the same only difference you havent got to sell. But lets see what i can get when the new gti comes out, and i still can not find a lease where you only pay 24 payments and no deposit they are all 3 or 6 months down payments then 23 payments
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Like I said carl.. it works for some, and for others it doesnt. Remeber that no one is going to give a car away, but its nice to know that there are different option there, which I hope this thread has opened up to a few people by highlighting both the positives and negatives.
I just wanted to quell the rumours thats its an waste of money or expensive way to fund a car. Let me add that there are many if not more lease deals out there that are a rip off. For example I looked at the 3 series coupe (320 msport) when it first came out, and was quoted £279pm. Which was a special offer at the time. Try finding the same car 2yrs on and you will struggle to get the same lease for less than £400pm.
On the other hand there was a deal of £299pm for an audi A6 avant 3.0tdi with leather and sat nav, which after comparing it to the cost new, is very cheap. Its only a deal if a special offer is on!! You will struggle to find a deal on a new GTi as its a highly desirable car esp when a new model is released.... unless its a totally new design which they want on the road so it grows on people or is a model coming to the end of its lifecycle.
As for the deals out there most used to be a 3+ but recently I have seen a change to 6+. Mine was a 3+ but I guess I over looked that as I used the money I made from selling on my last lease car as the deposit.
I would just say that obviously in the current climate dealers are looking to get cars off their books... so there is deals to be had which ever route you choose to go down :cool:
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....and if you have a lump sum of money then you have the Opportunity to do something with that to make money.... As soon as you give it to the wide boy in the cheap suit, that opporunity has gone :-)
A6's have good deals cos they are crap, no one wants them and be wary of audi leasing.... Read my bits above about end of lease rip offs. Been a good thread this :-)
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^ did look at the audi A6 Avant at one point... but Im 29 ffs!! Wouldnt go down well with the boyz innit! :grin: Although I could squeeze an extra one in that :smug:
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Id have an RS6 Avant :D
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i should have looked in to it 2 months ago as a option but i are a bit old skool as in i dont like to borrow money or have payments every month. But i will definatly look in to leasing as a option in future :cool: P.s them s3 offers look good but i test drove one and i found it a bit dull,vague and no character hence my new R. Be careful what you expect of the so called golf R or whatever its called you might be disapointed if its based on s3 imho of course, i hope im wrong tho about new R :wink:
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Really? Id have tought 265bhp 2.0T Quatro would be awsome !
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i should have looked in to it 2 months ago as a option but i are a bit old skool as in i dont like to borrow money or have payments every month. But i will definatly look in to leasing as a option in future :cool: P.s them s3 offers look good but i test drove one and i found it a bit dull,vague and no character hence my new R. Be careful what you expect of the so called golf R or whatever its called you might be disapointed if its based on s3 imho of course, i hope im wrong tho about new R :wink:
I agree with that. I was thinking S3 but now im not so sure... getting rid of the R for the S3 means your swapping a 3.2 for a 2.0 which everway you look at it. Not for me thanks... I think Im getting another R32 now! Esp as its going to be cheaper than the one I currently have. Bule or DGrey??? that is the question :grin:
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Blue all the way (see below) :grin:
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DPB is the ONLY colour to have for the R.
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Really? Id have tought 265bhp 2.0T Quatro would be awsome !
yes my view only (read jeremy clarksons review times online, i dont agree with everything he says in that reveiw and i was laughing at him, i take most of is comments on cars with a pinch of salt, but i like him.I read it among other reveiws, went and test drove it and thought he was right). I prefered my ed30 no bull, that engine in 4wd boring, i know its the same 4wd in r32 but with the noise and smoothness no competition for me, ironocally when i was test driving the s3 i saw i dbp R coming towards me and my eyes lit up and i smiled,thats the one for me.The R feels special, everyone knows its not the fastest thing on the road but that v6 noise,4x4 in a smallish well built german car is hard to beat. So judging by the s3 this could well be the end of the true R :cry: imo of course
Hope im wrong, bring on the R36 vw :smiley:
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R32uk i think the R32 and gti for that matter looks really good in all colours but dbp just pips it for me
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yourfleet have none of those lease R32s left..... :rolleyes: :cry: :cry: Oh well, back to the drawing board. :cry:
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Still abit confused to what I should do with my car :sad:
If I did sell it I would be looking into spending around 7k on another car.
Like has been said leasing aint for some but maybe others, I didnt have the money to buy the GTI outright hence going down the PCP route, pretty much the same as leasing with an optional balloon payment at the end. Didnt even want to buy a new car until I was in full time employment but my Dad was there edging me into buying it...which I wish I had waited a while now.
Every time I think sod it get rid and cut my losses, then I remember the noise it makes and just how other GTI owners look at it etc...then remember im skint again...its a constant circle lol
Its my birthday aswel today btw people :smiley:
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Happy Birthday ED30!!
Look at it this way mate.. its a tough decision/situation but its one that millions of people out there would love to be in :smiley:
Swinging towards the blue at the moment, but Im not so good at keeping the outside of my cars clean :undecided:
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Perhaps you can swap someone and also get some cash...would that make any sense ? Though I guess most of us would have cars that wont be any cheaper to run on a monthly cost basis.
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Cheers R32
DPB is a really nice colour, I think it just looks that little bit more special in the colour you already have.
Perhaps you can swap someone and also get some cash...would that make any sense ? Though I guess most of us would have cars that wont be any cheaper to run on a monthly cost basis.
Really dont know what car I would get if I do sell it. I keep swaying towards a diesel for obvious reason, but then remember the sweet sound coming from the GTI. It has made girls squeel with delight at the sound of the engine..no lie lol.
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edition 30 you dont sound sure just cut your losses and get a fulltime job and save for a couple of years, there will be edition30's around in a couple of years if you want to come back to one
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edition 30 you dont sound sure just cut your losses and get a fulltime job and save for a couple of years, there will be edition30's around in a couple of years if you want to come back to one
I know but I have this needy problem of having the lastest things available :grin:
Thats why I dont know whether to soldier through these hard times and keep it.
In a few years the MK6 Special Edition will be available. Hoping to be in a much more financially comfortable position by then.
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Bare in mind the Golf Edition 35 wont be out till 2011.
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:cry: :cry: :cry: :cry: :cry:
(http://i88.photobucket.com/albums/k161/astramk-3/add.jpg)
Sherlocks on the case...im fooked :grin:
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^^ Just write back and say hes lyin :grin: :grin: