Author Topic: What's People's Thoughts on The Mk7 R "Used" Prices ATM..  (Read 10891 times)

Offline monkeyhanger

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Re: What's People's Thoughts on The Mk7 R "Used" Prices ATM..
« Reply #10 on: 11 October 2015, 09:23 »
Chris1h it was on Vw website this week up at £25980 with a offers tab on it so i did. I knew it was a great price and thought i could run it for a year and sell for 22k easy, cheaper than leasing. It was basically a flip of a coin for me if i had it as white wasn't on my list even tho i do like it but i feel its a bit too much stand out for me. It has sold now but still on auto trader yesterday.

Monkeyhanger i agree they probably will be on at 22k in 3 years but if selling privately to a dealer or px you will struggle to get 15k unless you got a mint low mileage one and sell it privately. I might be wrong but i think it will be more like the MK5 R32 when it comes to holding the price rather than the Mk6 R.
P.s i think you can get 2 year old Gti's from Vw for about 19k now the odd one 18k.

 Its horrible to talk about depreciation or us car lovers  :sad:  but the way i try and look at it what ever you buy its  very rare you'll buy anything people will give you 50% for after you have owned 3 years or even 1 day  :smiley:

If I could buy used cars (£18k 2 year old GTI) as cheap as you're quoting then I wouldn't be buying new. £21/22k on the forecourt for a 3 year old R model should translate to a £17/18k p/x price - any less than that and the dealerships are being seriously greedy. I've always got around 85% of what would be the sticker price for my p/x, and a generous discount on the new one.
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Offline carl1

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Re: What's People's Thoughts on The Mk7 R "Used" Prices ATM..
« Reply #11 on: 11 October 2015, 09:37 »
Peter Cooper 31k miles i think 3 dr white 18.5k, sure i could get that or 18k. On there now.
Oh and ill think you will find they will offer you about 21k, 22k today if you are lucky for a 14 plate unless you are px against a overpriced car and again 17- 18k in 3 years, yep again against a overpriced car. The market is flooded with Mk 7 Rs, totally different kettle of fish to the mk6 R.

Edit i just checked PCooper vw it is a 13 plate without the DCC but it shows they can pop up now and again but you have to search daily, also what do you think they would offer for a 13/63 plate, quite scary really
« Last Edit: 11 October 2015, 09:49 by carl1 »
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Offline carl1

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Re: What's People's Thoughts on The Mk7 R "Used" Prices ATM..
« Reply #12 on: 11 October 2015, 09:55 »
There was quite a few £18995 last week but they don't hang around long.
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Offline Cossieian

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Re: What's People's Thoughts on The Mk7 R "Used" Prices ATM..
« Reply #13 on: 11 October 2015, 10:04 »
Are 1 year old Rs seriously been traded in for £20-22k right now?? That's nuts
Current: MK7 Golf R (Limestone Grey) DSG, 19 Prets, Winter Pack, Rear Camera, High Beam Assist, Apple Connect, Gloss Black Mirrors
Gone: MK7 Golf R (Tornado Red) DSG, Winter Pack, Keyless, Gloss Black Mirrors
Gone: MK7 Golf GTD (Pure White)

Offline carl1

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Re: What's People's Thoughts on The Mk7 R "Used" Prices ATM..
« Reply #14 on: 11 October 2015, 10:35 »
Trading in is different as blurs some people minds on what they are really getting in the excitement of getting a new car, ie what they are paying for the new one, when you could get it 2-3k cheaper elsewhere cash and that Dealer contribution, what a load of bollards that is,you pay about 8k in interest when you could borrow the same amount of money from a bank with about 1.5k interest but people don't see it yet they are learnt elementary maths when they are 6 years old. But in the cut throat world of selling your 14 plate R, yes that low especially since September.
« Last Edit: 11 October 2015, 10:45 by carl1 »
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Offline monkeyhanger

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Re: What's People's Thoughts on The Mk7 R "Used" Prices ATM..
« Reply #15 on: 11 October 2015, 16:23 »
Trading in is different as blurs some people minds on what they are really getting in the excitement of getting a new car, ie what they are paying for the new one, when you could get it 2-3k cheaper elsewhere cash and that Dealer contribution, what a load of bollards that is,you pay about 8k in interest when you could borrow the same amount of money from a bank with about 1.5k interest but people don't see it yet they are learnt elementary maths when they are 6 years old. But in the cut throat world of selling your 14 plate R, yes that low especially since September.

VW/Audi high residuals are part of the business model - the less you pay off that car with high RRP, the more you pay in interest over 3 years as less capital is being paid off. You typically pay about 15% of the RRP in interest (about £4.5k on a standard R) on a VW/Audi 3 year PCP at around the 6.5% APR mark, and if you buy at 88% of RRP (healthy 12% discount) and get 55% of RRP back in p/x value then about a third of your monthly PCP payment is interest.

Most of the used prices you are quoting tie in with what I expect the p/x price to be. I got £18.5k for my standard 5 door manual GTD at 21 months old, and it was up for £22.5k. I could've got £20k and a very small discount on my R, but that would have been robbing Peter to pay Paul. I always look to get broker sized discounts and 85% of the used forecourt sticker price. As i've started buying my cars outright I might look to sell privately for somewhere between what i'd expect p/x and the used sticker price - the remainder of a 5 year warranty should sweeten the deal for the next owner.

There are more MK7 Rs about, but it is a much better car than the MK6 R - better performance, better handling/ride (the MQB platform is a real step up in refinement) better (real) mpg, much more equipment as standard. There are fewer MK6 Rs about due to lack of demand in the new market when the MK6 was out (the fresh new Scirocco blunted enthusiasm for the MK6 Golf if 5 door practicality wasn't your main priority) and MK6 R values are going to have to drop a fair bit now as most people down the line will see the MK7 is worth paying the extra for. Supply and demand - despite there being more examples, the MK7 R is going to be in demand unless the new £28k (apparently) Focus RS proves to be something very special for the price.
Whey ya bugger! It's finally arrived after an 8 month wait....
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Offline carl1

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Re: What's People's Thoughts on The Mk7 R "Used" Prices ATM..
« Reply #16 on: 11 October 2015, 17:11 »
The Mk7 is a great car and is always going to be in demand but it don't help that most people know you can get one brand new starting at 27k, why would anyone pay 26k for a 14 plate for a used one. It's winter nearly and a 5 or 6 month wait till March on  brand new 16 plate is a better option as all the can't wait for a new one people have already more than likely already bought one, their is still going to be the odd few who can't wait but not as many. Then their is all the people who lease, their are going to be lots more on the market soon and as most know its cheaper to lease most times now, why buy a 2/3 year old one when you can even buy a new one cheaper as the Apr shoots up stupidly at VW.
I see quite a few Mk7 Rs, barely any 6 Rs in nearly 6 years, it doesn't make any difference what so ever that the MK7 is better than the MK6, its supply and demand. There wasn't much demand for the MK6 due to recession etc and i don't think you could get much discount either and expensive leasing for the few that offered it but just as importantly there wasn't much supply. But Vw seem to be pumping the mk7 R out as tho its a Golf Match model and it's not going to help residuals.
It will still do alright, better than most but it will be us who suffer the usual dealer bull when we come to sell. It is not going to be no Mk6 R

Sorry for waffling on but their are a few R owners living in cloud cookoo land when it comes to prices. :smiley:
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Offline monkeyhanger

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Re: What's People's Thoughts on The Mk7 R "Used" Prices ATM..
« Reply #17 on: 11 October 2015, 18:06 »
The Mk7 is a great car and is always going to be in demand but it don't help that most people know you can get one brand new starting at 27k, why would anyone pay 26k for a 14 plate for a used one. It's winter nearly and a 5 or 6 month wait till March on  brand new 16 plate is a better option as all the can't wait for a new one people have already more than likely already bought one, their is still going to be the odd few who can't wait but not as many. Then their is all the people who lease, their are going to be lots more on the market soon and as most know its cheaper to lease most times now, why buy a 2/3 year old one when you can even buy a new one cheaper as the Apr shoots up stupidly at VW.
I see quite a few Mk7 Rs, barely any 6 Rs in nearly 6 years, it doesn't make any difference what so ever that the MK7 is better than the MK6, its supply and demand. There wasn't much demand for the MK6 due to recession etc and i don't think you could get much discount either and expensive leasing for the few that offered it but just as importantly there wasn't much supply. But Vw seem to be pumping the mk7 R out as tho its a Golf Match model and it's not going to help residuals.
It will still do alright, better than most but it will be us who suffer the usual dealer bull when we come to sell. It is not going to be no Mk6 R

Sorry for waffling on but their are a few R owners living in cloud cookoo land when it comes to prices. :smiley:

We'll have to agree to disagree - your numbers seem to add up to 3 year old Rs being sold at a fraction more than VW finance GFVs, meaning p/x'ers will get a pittance for them (considerably less than GFV). Can't see that happening as a previous buyer of 8 new VWs, and anyone on VW finance would just hand their keys back and walk away at the end of the term. They need a hook to get you buying another VW, and that hook is being offered £1500 minimum more than your stated GFV to say you have some "equity" in the car.

You can blame the recession for the MK6's poor sales, I blame VW's 20% hike in the cost of a MK6 over it's equivalent MK5 stablemate (the GTI went from £20k to £24k overnight), helped on by the scrappage scheme - most manufacturers put their prices up to cover the losses made by the crappage scheme so we were no better off. The MK6 was really a MK5.5, with very little in the way of progress or extra equipment to justify the 20% hike - the incoming MK7 looked a veritable bargain next to the outgoing MK6.

If VWs stopped getting decent residuals then people would ditch them in droves and buy Audi or Mercedes instead. As it stands, anyone with a £15k GFV will be looking to get at least £17k p/x on their 3 year old R (which will be accordingly up for at least £21k on the used forecourt), and if they bought smart with a 12% discount, they won't lose their shirt in the process.

Doing a national search on VW's own used car website, the cheapest car there is a white 5 door manual 14 plate with just under 12k miles on for £25950, and a few similarly specced cars for a smidge over that on a 64 plate on higher than average mileage for the age.

"Most" people don't know you can get £4k off a £32k 5 door R, most of the gullible public will believe most of what that car salesperson is telling them and try to beat them down by a grand and think they've scored when they get it as they've never heard of brokers.
« Last Edit: 11 October 2015, 21:28 by monkeyhanger »
Whey ya bugger! It's finally arrived after an 8 month wait....
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Offline carl1

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Re: What's People's Thoughts on The Mk7 R "Used" Prices ATM..
« Reply #18 on: 11 October 2015, 18:40 »
The recession was a weird one and what you've said came from the recession, car scrappage scheme and unlike any other recession most things went up in price due to low interest rates.
Ive had about 8 new gtis/R32/ED30/ed35 myself, all cash and all sold private so got good experience of what its about. Im currently car free, but been looking everyday for the last 3 months and ive seen plenty if 63 plate gtis 19k and under. Like i say 15 plate R 24.5k (was up at £25980 and had a offers tab) 5 dr manual 8k miles turned it down, its there, but you have to keep looking.
So to the OP 21-22k if you px against a 28k new one 23-24 on a 32k car. Or 21-22k in cash unless you wait for a private buyer, not some mumbo jumbo well give extra for it if you buy another car of us.

Just to add i think most people are internet savvy these days, they will order offline if they can save £5 on a £20 item if they can never mind 32k
 
« Last Edit: 11 October 2015, 19:07 by carl1 »
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