Mk6 is going back :-(

[Snooze]

So we just got a mortgage approved and now I have to cut back on my expenses. This means my Mk6 will be being handed back to the stealer in September 

Got a £10k budget and been trying to find a replacement. Think I've settled on getting another Mk5. Found a few nice ED30's and Gti's in my price range  I must admit I did love my old Mk5. One thing I won't miss is the electronic throttle on the Mk6,I've never got on with that.

[Snoopy]

So we just got a mortgage approved and now I have to cut back on my expenses. This means my Mk6 will be being handed back to the stealer in September 

Got a £10k budget and been trying to find a replacement. Think I've settled on getting another Mk5. Found a few nice ED30's and Gti's in my price range  I must admit I did love my old Mk5. One thing I won't miss is the electronic throttle on the Mk6,I've never got on with that.

Im guessing you dont have a 10k budget but thats what your getting for the mk6 as that's trade price?
Otherwise it does not make alot of sence to me as your going to be no better off  as your looking at mk5 GTIs which have higher running costs so will be worse off..

[Poached]

Spending 10k isn't going to help with expenses? Sounds like you should keep the car or spend maybe £1500-2000 on a shed to replace it but that could end up costing money in repairs as well.

I doubt I would buy the same model twice.

[golfhappy]

Ah maybe got a monthly payment on the existing MK6, that goes back to the shop but also has equity tied up in it, so hence the 10k budget. I've just seen a lad get a silver 58 plate gt 140 immaculate with low miles. Totally genuine car clean as a whistle, looks brilliant. Just goes to show if you wait and look around there is a car for the right budget....now what Wrexham's VW number MK7 GTIs on special offer...

[Snooze]

The Mk6 is on lease hire costing £273 a month. I get £235 a month car allowance from work. I can get a £10k loan over four yrs for £225 a month.

[golfhappy]

i to like you have stepped into the world of mortgage land but i own my car which is quite fortunate for me. I like the ED30 but WHITE PLEASE!!!!!!!!!!!

[dubber36]

I know that things can be tight when you are first starting out buying a house, but it you are really that stuck finding the extra £38 a month to keep the Mk6, I'd be seriously considering whether getting into debt to the tune of £10k to buy another car is a good idea.

As mentioned before, I'd get a £2,000 diesel and drive around in that for a couple of years until the money situation got easier. There is no shame in been seen driving an older car.

[Snoopy]

I agree with what Dubber said about spending less. Unless this effects your allowance for a company car. But going into another GTI makes no sense if your trying to save money to me.

[Snooze]

You make some fair arguments, but it's not just about affordability. Problem with lease hire is you never actually own the car unless you pay the big balloon payment at the end of the term. At least with a bank loan I'll but putting my money in to something which I will own at the end.

[dubber36]

How much would the balloon be for you to keep the Mk6? I reckon it would be less than what you are likely to have to spend to 'own' a much older car.

Generally when lease cars go back, they are sent to auction where they will make trade price. That will be all that the lease company will expect to get. If you buy a second hand car from a dealer, you will be paying retail price. The difference between trade and retail on a £10k car will average around £2k. Also, you know the Mk6. If you buy an older car, you won't know where it's been or what it's done. That has to be worth something at least.

If you are insistent on getting dripped up to have a car, it makes little sense to line the dealers pockets, when you have your ideal car already on your drive.