GolfGTIforum.co.uk
Model specific boards => Golf mk7 => Topic started by: Mag_Pie on 13 December 2020, 15:30
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What’s people experience from trying to sell private instead of taking the dealer part ex price? The potential for raising more cash sounds appealing but my initial thoughts are towards non genuine buyers coming to scope out your house.
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Done both over the years, tbh the hassle of a private sale isn’t worth it if you haggle hard with the dealer - IMO.
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or as an alternative (and perhaps is the middle ground) try wbac, wizzle etc
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I would try something like motorway.co.uk before committing to either personally.
Selling privately should get you more money but it can be lots of hassle with tyre kickers, time wasters, people without insurance wanting test drives etc. The last time I sold a car privately I touted it around people I knew first and ended up selling it to a work colleague of a close friend. That way I had a bit more trust in them, and them in me rather than selling to a complete stranger.
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With one exception, I’ve always p/ex’d my outgoing car against the new one as I like the convenience of getting out of my old car and straight into the new one.
I personally wouldn’t want the potential hassle of the time wasters and tyre kickers that you might get with a private sale. And as you’ve said, do non genuine buyers just have an ulterior motive for finding out where you live? Also, if you don’t get much interest in your for sale ad, you may find you have to drop the price, so could end up not getting much more than you would if trading in.
Good examples of in-demand cars were holding up value-wise exceptionally well three months ago when I traded my car in so you may be pleasantly surprised by what a dealer would offer for your car. You may find you have the upper hand. Always do your research though so the dealer doesn’t give you a load of BS.
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Depends on the value left in the car.
A lowish mileage few owner car i’d definitely sell privately.
I think you just have to work out how much you’d lose by trading in, then decide.
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All down to personal preference and tolerance of the idiot public I guess. I find it enough hassle selling low value items like wheels and tyres etc, people messaging ‘wots ur best price m8’ etc
The likes of wbac & motorway are handy to get an idea of value. As perspective, my tcr price with wbac dropped £2k between mid September and late November. If the vehicle is in good spec, low miles etc then often specialist dealers will pay you more than wbac and co. Main Dealer trade ins have always seemed harsh but that’s from limited quotes for me.
A mate of mine changes cars regularly and has privately sold lotus exige, cayman gts and hasn’t had issues. I wonder whether there’s a value point that attracts more div buyers to irritate and waste your time?
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I've sold every car I've had privately. It's simple, no insurance no test drive. And "I'm fully comp mate" doesn't count.
I've never had any test pilots, the first person to view has always bought the car because I'm extremely honest with my adverts and the condition of my cars are always better than what you'd get from a dealer anyway.
I don't understand why you'd trade it in at a dealer and lose out on thousands for "less hassle". I'd swim through shark infested waters with a sirloin steak wedged between my arse for a couple of grand - so selling a car privately is no bother to me.
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I agree with ryan. It’s actually quite easy to spot a serious buyer from a tyre kicker, and the whole deal should be done and dusted by telephone.
The conversation goes along the lines of “ if the car is as described, we agree £x for the car “
If you don’t have that kind of conversation, don’t entertain them.
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I've sold every car I've had privately. It's simple, no insurance no test drive. And "I'm fully comp mate" doesn't count.
I've never had any test pilots, the first person to view has always bought the car because I'm extremely honest with my adverts and the condition of my cars are always better than what you'd get from a dealer anyway.
I don't understand why you'd trade it in at a dealer and lose out on thousands for "less hassle". I'd swim through shark infested waters with a sirloin steak wedged between my arse for a couple of grand - so selling a car privately is no bother to me.
Thanks for this - you've installed confidence.
I've always traded in at the dealer for ease and being 'scared' of selling private. But after the low ball offer I've just had by the dealer I think private is the way I'm going now.
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I sold mine by contacting the dealer group website I bought from and got put in touch with the group buyer who made my a very good offer to buy back off me. Admittedly, it was just after lockdown and they were after low mileage well specced cars. Worth a punt though 🙂
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What’s people experience from trying to sell private instead of taking the dealer part ex price? The potential for raising more cash sounds appealing but my initial thoughts are towards non genuine buyers coming to scope out your house.
Get in contact with me we are always looking for nice stock in PX 👍🏻
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Get in contact with me we are always looking for nice stock in PX 👍🏻
I'm sure you are, but I'd be very surprised if you'll be willing to pay a 'fair' price.
Some of the p/x prices I've been offered for my car over the past few weeks have been quite frankly insulting. I wouldn't have minded if the offers were honest, but the accompanying bullsh!t that goes with it is what's insulting. We're offering "top money", "we've taken into consideration the £6.5k of options" etc etc When the prices are no better than Book and/or WBAC.
It got to the point that when I ordered my new car on Saturday, I've taken the p/x out of it and I'll deal with it when the time comes.
If I were a betting man I'll probably end up just chucking it into WBAC (who I've used before with zero hassle).
If you fancy my car, let me know. Happy to have a chat about it :)
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Get in contact with me we are always looking for nice stock in PX 👍🏻
I'm sure you are, but I'd be very surprised if you'll be willing to pay a 'fair' price.
Some of the p/x prices I've been offered for my car over the past few weeks have been quite frankly insulting. I wouldn't have minded if the offers were honest, but the accompanying bullsh!t that goes with it is what's insulting. We're offering "top money", "we've taken into consideration the £6.5k of options" etc etc When the prices are no better than Book and/or WBAC.
It got to the point that when I ordered my new car on Saturday, I've taken the p/x out of it and I'll deal with it when the time comes.
If I were a betting man I'll probably end up just chucking it into WBAC (who I've used before with zero hassle).
If you fancy my car, let me know. Happy to have a chat about it :)
Well said. My local dealer offered me £1.5k less than WBAC. Yes I'm aware WBAC will knock a bit off for the smallest stone chip ever known to man, but still I was a bit shocked when the VW sales man came back with that as his best offer. He even commented the car still looks brand new.
I have PM’d evo1986
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Must be time for a clear out of Golf GTi's, ours is going up for sale too....
I've checked the forecourt prices, although currently on AT there is only 6 3drs DSG PP and VW website has 1.
Cheapest independant on AT is £23k and VW is £25.2k
WBAC have offered £21k that puts the inde @ +10% and VW @ +20%.
Going to pop into the dealer it was purchased from over xmas to see what they come up with :undecided:
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I try to sell privately because you do get more money. As someone said you can tell a lot over the phone. Last car sold easily and the payment was done and dusted quickly with a bank transfer. First time I've not done cash. There was a few days of me constantly checking my bank to make sure the money hadn't dissapeared!
I made enough profit to put down a deposit on the new car and have a bit left over for myself. Had I gone to a dealer I'd have had no equity at all.
WBAC are saying £26.5k for my 2020 TCR, with under 6000 miles on it. I think I'd get closer to £30k privately! Need to wait until the value of the car is similar to the settlement figure, then I will be selling it I think.
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I keep toying with the idea of selling mine. I've even written the advert but I just can't bring myself to post it.
I always wanted a GTI since I was a young boy but I'm putting almost £300 a month in fuel in the bloody thing. I'm not sure that alone warrants me selling, especially when there's nothing wrong with the car.
Somebody offer me good money and make my decision easy 😂
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Must be time for a clear out of Golf GTi's, ours is going up for sale too....
I've checked the forecourt prices, although currently on AT there is only 6 3drs DSG PP and VW website has 1.
Cheapest independant on AT is £23k and VW is £25.2k
WBAC have offered £21k that puts the inde @ +10% and VW @ +20%.
Going to pop into the dealer it was purchased from over xmas to see what they come up with :undecided:
I shifted mine on in August a few months earlier than I normally would have before the Mk8’s started appearing and kicking the Mk7/7.5 prices down. Plus. Looking around at that time (it was not long after the first lockdown) there weren’t many well specced low mileage cars around so it felt a bit like a sellers market for me and got a really good price for mine.
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Lots of good info, thanks. So I could try WBAC but they might not honour their price is that what we’re saying?
Where do people prefer to advertise?
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WBAC will knock you down for any tiny mark and blemish they can see, and some you can't see. Still might be worth trying them though. But you need to be completely honest about your cars condition to get a realistic price.
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Lots of good info, thanks. So I could try WBAC but they might not honour their price is that what we’re saying?
Where do people prefer to advertise?
I would use the WBAC price unseen (before they see it and start chipping away at it) as an absolute minimum yardstick to be basing other quotes on.
I sold my 46 month old Golf R to Prestige Performance in Selby for far more than the dealers were offering. They were on that bidding/offer site that went bust that's like "motorway" (I forget the name). Give them a shout. If they're interested, they'll give you a price and as long as it's as described, someone will be over to yours on the train to pick it up and transfer the money to you before they drive off in it.
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Wbac will chew you up on the price and then add fees and more fees for having the cash in less than a week but...they will buy the car off of you there and then. If you agree the car goes then and there, job done. Haggle a bit on the price, tell them a story about why you need xxxx pounds for it and they will phone a manager for a better offer.
Can you do better on price? Sure but it depends on how easy you want it gone. You won't feel as violated as doing a px...
Do be aware though that wbac won't settle finance apparently... You'll have to pay it off beforehand and have its hpi status cleared. Might need to wait ten to fourteen days for that to go through after paying it off.
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Personally I've never had an issue with WBAC. Sold three cars to them (£2k, £15k and £39k price points) and I've never been 'knocked down' or messed around. In fast, the experience was painless and easier than any dealer haggle.
In my experience if you're honest & upfront in the appraisal about the condition, they are fine. The online form is detailed enough for you to mention all marks, dinks and scratches I have been there when a friend tried to sell his to them and him not mentioning some scratches, then when they saw one the appraiser went looking specifically.
Trust both ways.
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Get in contact with me we are always looking for nice stock in PX 👍🏻
I'm sure you are, but I'd be very surprised if you'll be willing to pay a 'fair' price.
Some of the p/x prices I've been offered for my car over the past few weeks have been quite frankly insulting. I wouldn't have minded if the offers were honest, but the accompanying bullsh!t that goes with it is what's insulting. We're offering "top money", "we've taken into consideration the £6.5k of options" etc etc When the prices are no better than Book and/or WBAC.
It got to the point that when I ordered my new car on Saturday, I've taken the p/x out of it and I'll deal with it when the time comes.
If I were a betting man I'll probably end up just chucking it into WBAC (who I've used before with zero hassle).
If you fancy my car, let me know. Happy to have a chat about it :)
I know a guy who would have yours as its very high spec and they pay sensible money. PM if interested.
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The trouble with a heavily optioned car is that they are difficult to sell as better than a less optioned one. Which is why when you PCP some options don't effect the gfv and basically you fully pay for them.
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Tried Motorway.co.uk the last car I sold the price I was offered wasn't much different to private sale price and thousands better than wbac so the dealer who offered that price on motorway got it, was Hassle free and would use again.
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I used Motorway to sell my GTI, good offer, no hassell, give them a try? I would definitely consider using them again, previously I have always part exd but I got a better deal doing it this way.
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Sold my wife 53 plate Mini Cooper in good condition, and with low mileage, with the average price being asked and on books of £1200 as a maximum, when put the REG plate in WBAC it stated to my surprise £1350, and when got there and they looked it over they offered me £950 to which stuck to my guns and said would just walk away unless received £1100, and after ringing Manager :grin: they were happy to do this price just this once haha.
Motto of story is set yourself a realistic price willing to accept, taking into account cost of advertising and having wheel kickers around and then be 100% willing to walk away if not get that price, - I was very happy with £1100, it was maybe little less than could get private but WBAC get a little bit out of it and so did I in my opinion of good price, and a quick and painless shift of the car
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Get in contact with me we are always looking for nice stock in PX 👍🏻
I'm sure you are, but I'd be very surprised if you'll be willing to pay a 'fair' price.
Some of the p/x prices I've been offered for my car over the past few weeks have been quite frankly insulting. I wouldn't have minded if the offers were honest, but the accompanying bullsh!t that goes with it is what's insulting. We're offering "top money", "we've taken into consideration the £6.5k of options" etc etc When the prices are no better than Book and/or WBAC.
Your car is exactly the colour and spec I am after. PM me if you are serious on selling. Cash waiting🙂
It got to the point that when I ordered my new car on Saturday, I've taken the p/x out of it and I'll deal with it when the time comes.
If I were a betting man I'll probably end up just chucking it into WBAC (who I've used before with zero hassle).
If you fancy my car, let me know. Happy to have a chat about it :)
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Thought I would share my recent selling experience with VW. I asked three VW dealers up and down the country for a trade in on a 67 plate BMW 3 series X-Drive touring 320d Shadow edition with 15k on the clock against one of their GTI PPs. I got offers of £17000 from all three,£300 lower than WBAC. I then put my details into Motorway the online auction site. It achieved £19500. As there was no GTI PPs meeting my criteria I thought I would chance it on Autotrader, after all its only £50. It sold last week for £20500. Still too low for a car that was £45k with options back in 12/17 but a damn site better than the £17k stealers were offering.
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That's one hell of a hit- would be enough to make me cry.
In 2009, I flew to Belfast, from the Midlands, to buy a 335d M sport touring with every option going and 14k on the clock. I paid £24250 for a car exactly 2 years old that listed for £44k.
It had been used by the wife of the owner of the BMW dealership in Belfast and was in "as new" condition, 4 brand new Michelin tyres and -I think- near enough a years tax thrown in.
I sold in December 2018- when I bought my Golf- for £6800. Around 75k mileage.
I never quite understood why people bought brand new cars!
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That's one hell of a hit- would be enough to make me cry.
I purchased it used from BMW 12/18 for £26k, so thats still £18k loss in a year :shocked:
Each to their own but I wouldn't buy new from a dealer. Saying that, I would enjoy the choosing colour and speccing up aspect of a new car.
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I never quite understood why people bought brand new cars!
Well if they didnt there would be no second hand cars to buy :laugh:
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That's one hell of a hit- would be enough to make me cry.
I purchased it used from BMW 12/18 for £26k, so thats still £18k loss in a year :shocked:
Each to their own but I wouldn't buy new from a dealer. Saying that, I would enjoy the choosing colour and speccing up aspect of a new car.
67 plate car you bought second hand end of 2018 for £26k and then sold 2 years later for £20.5k? £5.5k for 2 years of ownership is pretty impressive - you'd not find that anywhere else unless you play "bangernonmics".
The average car depreciation will hit hardest in the first year of ownership. Generally, the drop will be around 15-35% in the first 12 months. And that will continue to rise up to 50% or more over three years.
Year 1: 15-35% depreciation. 65-85% of the original value.
Year 3: 40-60% depreciation. 40-65% of the original value.
Year 5: 60-70% depreciation. 30-40% of the original value.
Year 8-10: 80% depreciation. 20% of the original value.
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I should point out that I bought my golf brand new! It's a much cheaper car than a big engine BMW so much less to lose over the long term, particularly with a hefty discount.
Either that or I've got to the stage in life where I have more money than sense.
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That's one hell of a hit- would be enough to make me cry.
I purchased it used from BMW 12/18 for £26k, so thats still £18k loss in a year :shocked:
Each to their own but I wouldn't buy new from a dealer. Saying that, I would enjoy the choosing colour and speccing up aspect of a new car.
67 plate car you bought second hand end of 2018 for £26k and then sold 2 years later for £20.5k? £5.5k for 2 years of ownership is pretty impressive - you'd not find that anywhere else unless you play "bangernonmics".
The average car depreciation will hit hardest in the first year of ownership. Generally, the drop will be around 15-35% in the first 12 months. And that will continue to rise up to 50% or more over three years.
Year 1: 15-35% depreciation. 65-85% of the original value.
Year 3: 40-60% depreciation. 40-65% of the original value.
Year 5: 60-70% depreciation. 30-40% of the original value.
Year 8-10: 80% depreciation. 20% of the original value.
That was impressive seeing those stats.
This is where the buying the right model, colour, spec is essential to holding residuals. Who wants a povvo spec BM or GTI for that matter, not me.
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Likely as not any options have zero residual value. It might ease the resale but you aren't going to get back your thousands you spent on them from new vs buying a poverty spec car.
Particulary not with something like a GTI because UK base spec is very high
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Exactly. Best way to minimise depreciation is to go easy on the optional extras. Can't think of any examples that'll retain 100% of their cost.
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+1 Mileage and Condition are the main factors upon sale / trade-in.
Extras not so much, unfortunately that is why many people are very disappointed when they come to sell their high specced cars and get next to nothing for the options... :sad:
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Back in 2006 I bought a brand new Mazda RX/8 for £22K, having done my research at the time they held their value relatively well and was a lot of car for a reasonable cost, I loved it!
Roll forward a year or 2, and then the tax linked to emissions etc came in, and it absolutely killed any value left in it. A few people joked that I would have to pay them to take it off my hands!
I managed to sell it back to Mazda (in early 2009) for £7.5K and 11K miles on the clock! :cry:
Then I bought my Scirocco which I kept for 11 years prior to my 7.5 GTI last year!
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Exactly. Best way to minimise depreciation is to go easy on the optional extras. Can't think of any examples that'll retain 100% of their cost.
"performance pack" on the mk7
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Exactly. Best way to minimise depreciation is to go easy on the optional extras. Can't think of any examples that'll retain 100% of their cost.
"performance pack" on the mk7
And Pretorias on an R.
As a reference, I always bought second hand until the mk7 was released in 2013 and by some miracle I’d saved enough to buy it cash.
Some were older second hand (especially family runabout cars that I’d buy and keep until they died) and some newer such as dealer registered cars. As I always did light modifications to my cars it was never worth buying new even if I could afford it (which for most of my life I couldn’t).
I’d track certain cars, especially dealer registered ones, over weeks and sometimes months waiting for the point where the sales manager needed it gone and was ready to deal.
This did me ok for years as back then GTIs were reasonably sought after and not in huge supply and tended to be bought more by private buyers so depreciation was low making the real cost of ownership quite reasonable.
Things changed over the last eight to ten years where sporty Golfs became fleet fodder and depreciation on newer ones became just as bad as most other marques and models. Things have been a bit of a rollercoaster for me since but I see trends change and suddenly depreciation bullet proof cars such as GTDs went out of favour and high depreciating cars such as the early mk7 R’s firmed right up.
My Ed 40 Clubsport looked after my ££££ pretty well, my TCR less so and I fully expect my mk8 Clubsport to nosedive in value.
The M135i X-Drive i had during late summer was picked up for £29.5k at seven or eight months old and just a handful of miles on it. As an example to those who like adding a heap of options, that car new would have had a list price of just under £41k so I’m very glad I didn’t buy that car new!!
Cheap PCP deals have killed retained values on many (most?) cars now unless you keep them for three or four years which feels like an eternity for someone like myself.
The irony of it all is the more warranty and hence lowest chances of having to shell out for repairs the more the car loses you, then after the three year warranty is up and stuff is wearing out the actual depreciation slows significantly.
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Exactly. Best way to minimise depreciation is to go easy on the optional extras. Can't think of any examples that'll retain 100% of their cost.
"performance pack" on the mk7
And Pretorias on an R.
The irony of it all is the more warranty and hence lowest chances of having to shell out for repairs the more the car loses you, then after the three year warranty is up and stuff is wearing out the actual depreciation slows significantly.
Very hard to justify the cost of buying new on this basis. Some eyewatering depreciation numbers in this thread alone- it is comfortably the biggest cost to consider in running a new car.
In 27 years of car ownership, I have not once had a really big unexpected bill- auto box, infotainment unit etc- and most of these cars were taken to high mileage.
That said, I have very much enjoyed my first experience of owning a brand new car.
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Likely as not any options have zero residual value. It might ease the resale but you aren't going to get back your thousands you spent on them from new vs buying a poverty spec car.
Particulary not with something like a GTI because UK base spec is very high
Go on then, I'll bite. You've trotted this out several times recently, and it makes no sense whatsoever. No option will retain 100% of it's value, we can all agree on that, but when I've been looking for used examples, or if you ask the people who've been in contact with me about my car that's going to be for sale, there is a consistent answer... they've wanted certain options on the car and they are happy to pay more for it. More often than not it's been one or more from 19's, Pan Roof, Paint Colour, Dynaudio or DCC. With that in mind I can charge more for the car than a base spec car. If there's less cars out there with the options, supply & demand will dictate I can charge more.
CAP trade gives a base value for dealers to work from, and it's in their interest to try and get CAP, that doesn't mean they don't value cars with options higher, of course they do because it's more desirable and more margin by pricing higher, they just want to retain/gain margin where they can so will bid lower.
When my order with VW was cancelled in the summer of 2018 due to WLTP, I spent months trawling used websites looking for a car that suited. Cars with no options sat around for weeks on end, not moving, but if something came up with some of the grail options such as DCC or Pan Roof, OR Dynaudio, they would be snapped up within hours. That's fact, not me making things up. I would miss cars by a matter of minutes. As it turned out I was lucky enough to get my original order, but there were plenty of people at the time looking for cars with specific spec, and they were significantly more expensive cars than cooking spec base cars.
Am I stupid enough to think the £595 I spent on the electric memory seats will be retained, of course I'm not, but decent options retain on average 20-30% of their value, so in my Golf's case I can easily charge c£2k more than a cooking spec equivalent.
I read this quite a lot on here that UK base spec is "high", it's not, else options wouldn't exist. The simple fact of the matter is you got adaptive cruise control as standard, but apart from that there's very little over other brands or similar price points that is above and beyond, maybe heated seats.
The bottom line is a Golf is a swiss army knife, used by many people for many different reasons. I specced mine high because I wanted comfort and luxury, so I accept some options won't retain as much as others, but there is a no denying 19's, pan roof, dynaudio are three options that buyers look for when buying, how many threads appear on here talking about it! On the flip side there are people who are happy with base spec and there's nothing wrong with that, but your remarks about options adding nothing to future values is quite frankly rubbish.
And before you ask why a GFV doesn't move if options are added. VAG tried that once in 2015-2017 with the Q7 and MK3 TT, options were considered in GFV's (you could spec 21's on a Q7 and it wouldn't change the cpm because the GFV was higher) and they got burnt. They lost more than they could/did with a flat GFV, so it was scrapped.
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Exactly. Best way to minimise depreciation is to go easy on the optional extras. Can't think of any examples that'll retain 100% of their cost.
"performance pack" on the mk7
I’d track certain cars, especially dealer registered ones, over weeks and sometimes months waiting for the point where the sales manager needed it gone and was ready to deal.
Im currently doing the same. It surprises me the dealers who hold out for their unrealistic high asking prices on the strength that its a GTI. One guy in the Midlands has been sitting on a 5 door Grey GTI PP, Brescias, DSG since August and is asking £24,990. I asked him in Dec if he wanted to have a deal and he refused to budge an inch. He’s had it on his front for 5 months, it must have lost well over a grand if not more.
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If an option is one hundred percent covered by the increase to gfv the fs company don't lose out... They still own the residual value. Providing the gfv does actually reflect the trade value of the car they've lost nothing.
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Wife bought an Audi A1 Black Edition on 14 plate with 15,000 miles 2 years ago and its barely crept over 20,000 due to restrictions, and we have toyed whether to move on as consider depreciation, and was pleasantly surprised that what we paid is what we could reasonably expect now, its kind of in its sweet spot of holding back depreciation at present, and of course that will change but imagine relatively slowly - Given that finding we have decided to keep given its low mileage, FSH and its time with ourselves as it will likely be a long term keeper serving its 2nd car duties well and we would likely have to spend the same money again at some point
I can see why some have moved their nearly new purchases on due to restrictions as likely feel you can see the ££ going down drain as look at it through window but a decent second hand purchase 3-4 years old, with a lot of that heavy depreciation behind it are not overly affected.