GolfGTIforum.co.uk
Model specific boards => Golf mk7 => Topic started by: Bigwod on 21 December 2017, 10:03
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luckily i didn't buy my CSS as an investment but didn't think a year after launch id be seeing them selling for 30/32k Those garages who sold them on for a huge premium saying can only go up in value should be avoided in the future.
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Looking on Autotrader, they are selling for 34/35k?
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Can't say I've seen any at that price, looked yesterday and cheapest was £35k but saying that I've only looked on Autotrader. Can't really see why anyone would see them as an investment other than buying at retail and selling on straightaway after all, it's a Golf albeit a very good one but still, just a Golf. So is the moral here, don't trust what a salesman says? :whistle: :rolleyes:
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Buying a new car at £34k getting a years driving and selling around £32k is cheap motoring
If your paid overs then you could be into a big loss
Black cars seems to be the lowest in pricing and those cars with a fair few miles are obviously cheaper
Red and White 2017 cars with low miles still seem to be for sale more than they were retail
Still more than happy with mine and glad I bought it and even if I sold and took a relatively small loss it's been well worth it - still brings a smile to my face each time I drive it
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Those garages who sold them on for a huge premium saying can only go up in value should be avoided in the future.
Wait, you mean there were people that actually believed what salesmen/dealers said? :shocked:
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Salesman saying can only go up in value..... :grin: :grin: :grin:
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I hope no one was stupid enough to pay over £40k for one which was probably the average going rate at the time
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They still seem to be going for good money, you can get a FL R for less with all the new tech.
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Sub 1000 mile cars may be worth a considerable amount of money in 30 years time. An Escort Cosworth with a few hundred miles on it sold for over £110k at auction recently, but to cash in on that, you really have to play the long game. I'm sure if you used the original purchase price as working capital, you could turn it into much more than that in the same amount of time, as well as taking out some pocket money along the way.
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Sub 1000 mile cars may be worth a considerable amount of money in 30 years time. An Escort Cosworth with a few hundred miles on it sold for over £110k at auction recently, but to cash in on that, you really have to play the long game. I'm sure if you used the original purchase price as working capital, you could turn it into much more than that in the same amount of time, as well as taking out some pocket money along the way.
Exactly. 30K as working capital used wisely, in 30 years time should far exceed most people's life savings, let alone the price of classic/collector's Escort or Golf... Waiting to cash out on such a car just doesn't make sense.
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But in 30 years time you might not be able to get fuel to run it on!
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The only ones struggling to sell are the ones with high miles or been tracked and ones with stupidly high asking prices in garages.
Sensible mileage ones around 35k seem to be selling and are worth that price.
Look at the prices of megane trophy R for comparison. Similar sort of car and similarly rare. They dropped a couple of grand then stayed at that price since 2014.
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I still think there are too many speculative cars for sale at dealers on a sale or return basis. Some have been offered for most of 2017.
These cars will have to sell at some point and there is a lot of choice in the £30k hyper hatch segment.
If you look at the numbers, for £30k to be worth £110k in 30 years time you need a rate of 4.43% compounded.
That was achievable in cash deposit accounts up to 2009 and lower rates since have helped the stock market, also considering dividends you haven't got to be a financial wizard to achieve such returns, especially with the tax benefit of Isa's.
Don't forget the negative carry in holding a car as investment, it will need storage, insurance, tyres and a service.
you are not getting any benefit of convenience yield if the car sits in a garage.
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All of the above and still need another car too... So unless you are loaded that probably means driving a junker... While you have the best golf ever sat in a plastic wrapper... Maybe for Saudi princes but not for the likes of me!
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Fred is right and I think the days of big profits on mass produced cars will perhaps be a thing of the past. However there will be niches for everyday classics, like there is now with MK1/2 Golfs, Peugeot 205's etc.
However bare in mind that all our current cars are heavily reliant on what will be very outdated Tech in 30 years time. Think how far we have come in the last 30 years, the touch screens and so forth will of course be novel in 2047, but also a potential pain the arse and likely expensive to replace and repair. Unlike the classics of the 50s / 60s / 70s / 80s which are analogue and relatively straight forward. I guess only time will tell.
If you have £30K to gamble, bung it in a stocks and shares ISA, least you don't have to insure, service and garage it!
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I am not sure a Golf will be the best for investment anyway, how quick will the 7.5 or 8 CS-S be anyway?
Looking at the 4.4% return over the last 30 years to achieve £110k is not that great, some of the rarer air cooled Porsche have returned 24% a year over the last 10 years, that's where the smart money would have been! ;)
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Bloody hell, now I know why I'm poor and others on here are languishing in wealth.
There was me thinking a Golf was something to drive to the shops in (quite briskly) rather than trying to get a 4.4% return on it!
Still, 4.4% of next to next to bugger all is still next to bugger all, so I don't have much to worry about as far as my bank balance goes. I can't afford a Porsche so there's no way I an make 24% which goes to prove money goes to money and i'm on the wrong forum! :grin:
I think the flippers and speculators were about as popular on here as a dog turd on a door mat and hopefully the cars will settle down to a true actual worth, some will always be museum pieces for wealthy collectors and hopefully a few will be actually enjoyed by GTI enthusiasts who recognise what a great job VW did with a load of parts bin components in an already crowded performance Golf range. A worthy celebration of 40 years and the fact so many of them came to the UK says a lot about our appetite for GTI's.
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Bloody hell, now I know why I'm poor and others on here are languishing in wealth.
There was me thinking a Golf was something to drive to the shops in (quite briskly) rather than trying to get a 4.4% return on it!
Still, 4.4% of next to next to bugger all is still next to bugger all, so I don't have much to worry about as far as my bank balance goes. I can't afford a Porsche so there's no way I an make 24% which goes to prove money goes to money and i'm on the wrong forum! :grin:
I think the flippers and speculators were about as popular on here as a dog turd on a door mat and hopefully the cars will settle down to a true actual worth, some will always be museum pieces for wealthy collectors and hopefully a few will be actually enjoyed by GTI enthusiasts who recognise what a great job VW did with a load of parts bin components in an already crowded performance Golf range. A worthy celebration of 40 years and the fact so many of them came to the UK says a lot about our appetite for GTI's.
If I had one I would be in it every day even if I didn't have anywhere to go. Especially living in the West Midlands where there are no speed cameras to look out for.