Keep, or sell? What's it worth? Your opinion please.

[RM]

The only way to release meaningful money out of the car is to swap for a £2000 sensible car and be prepared to accept that it will have its faults.

I'm sure there are other ways you can cut back to save money rather than realising a loss on your car. I've not spent a bean in weeks, on anything other than food and utilities. I've not been earning much, but I'm actually better off.

The biggest question is is whether the OP actually owns the car outright.or is PCPing. If PCPing, we're talking about possibly a bit of equity in the PCP which will only be realised if trading in. If owned outright, there's a lot more money at play.

If you normally have disposable income for trips, pubs and restaurants, and are working from home or are furloughed with seriously reduced fuelling costs, it's hard to spend that money right now. I ended up paying my 2020/2021 Council tax demand in one lump as soon as it dropped through the letterbox. I've saved in not going  out and doing a bit of business on ebay.

It's owned rather than on PCP or similar, which was part of the logic - the difference in money could be used to offset other payments or a drop in income.

Yes it’s a worrying time. We have 2 cars - a Volvo XC60 2019 model and my GTI 2016. Both paid for. Trouble is with our trip to South Africa and now lockdown and both being “Shielded”
I doubt that both cars together have done more than 50 miles this year. It has made us think seriously about having 2 cars. So am contemplating letting the Golf go. Still not sure as I do love it but the current mileage and the future unknown is playing on my mind. So I do relate to how you’re feeling.

It's not easy is it (head vs heart). I can't help but re-evaluate what's important and what's a luxury, which it sounds like you're doing too. For me, this period has made me realise that having a bit more spare capacity financially would make life more comfortable, as I doubt this is the last event like this I'll see in my lifetime.

[monkeyhanger]

^ I suppose considerations made will depend on how well you think you'll be financially when things get back to normal. As you own the car outright, if you want to be more cautious with your finances in the future, just keep this car longer than you maybe otherwise would've.

[Phil245]

Years ago I thought I was going to be made redundant and back traded an absolutely immaculate 3.0S Capri with tennis net Recaro's and all the extras for a mini.....

I wasn't made redundant in the end but the joy of that lasted a year or two.....

But nearly 40 years later I still bitterly regret "giving away" that beautiful Capri.....

If you still like your car, keep hold of it.....!

[david25]

My view:

1. Used prices will decline this year, if you choose to sell, go early versus later
2. I agree with the cost of change arguments above, you'll need to choose something much cheaper
3. But old cars can/will cost more to run

You could be strict, set a budget and look for something that has everything fixed

https://www.pistonheads.com/classifieds/used-cars/volkswagen/golf-gti-mk5-mk6/volkswagen-golf-mk5-gti-------------------2008/10537952

(only an example, i guess you could get that for £3500 and he claims all the major stuff has been addressed, rust, new AC etc)

[RM]

I had a Mk5 Golf many moons ago and it was a hateful thing that went back to VW six times in the first six months for different faults... I'd rather take the bus 

The cost of maintenance and running costs is on my mind in all of this. On one hand having a car like the GTi is a luxury not a necessity, but the flip-side is it's (*touch-wood*) pretty solid and dependable so costs are predictable.

[fredgroves]

The cost of maintenance and running costs is on my mind in all of this. On one hand having a car like the GTi is a luxury not a necessity, but the flip-side is it's (*touch-wood*) pretty solid and dependable so costs are predictable.

Let me correct that for you:

On one hand having a car like the GTi new car is a luxury not a necessity, but the flip-side is it's (*touch-wood*) pretty solid and dependable so costs are predictable because its new, not broken and with a 3 year warranty.

Thats the thing, that is why i have a new car and not a broken down heap. Reliability and predictable costs. You pay for both though. Have less of either and you could be quids in...or stuck on the side of the motorway in the sh1tting rain and looking at a £3000 garage bill.

[david25]

I had a Mk5 Golf many moons ago and it was a hateful thing that went back to VW six times in the first six months for different faults... I'd rather take the bus 

The cost of maintenance and running costs is on my mind in all of this. On one hand having a car like the GTi is a luxury not a necessity, but the flip-side is it's (*touch-wood*) pretty solid and dependable so costs are predictable.

Understood, then I would be looking for a Toyota Yaris at the same price.

[Jason b]

we have 3 cars mk7 gti a mk6 tdi and...

 a C1 from on a 60 plate and its by far the most used car its cheap fun and think if I parted with my GTi be quite happy with it , I know quite a few people that have nicer cars and a run arounds for a couple of K if that

nicer car can be a tie in more than one way

[fredgroves]

Most of the genuinely proper rich people I know drive old bangers.

I guess that's how you get to sit on a pile of money - don't waste it on cars 

[dubber36]

Most of the genuinely proper rich people I know drive old bangers.

I guess that's how you get to sit on a pile of money - don't waste it on cars 

This is true. I do a lot of work for the landed gentry. Country estates get handed down through the generations and they work with what they have (with a little help from their land agents and me) to keep the estates profitable and in good order to pass on to the next generation. Very rarely do they have any interest at all in cars. A new Discovery may get bought about once every 20 years, but that's about it.