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MK8 Depreciation


SEAN G

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7 hours ago, SEAN G said:

Checked my Golf 8 Anniversary on Motorway out of curiosity to see how they valued it £55k list - not that I paid that but at 1000 miles and a few months old it’s around £42 k - oddly enough the same figure my dealer quoted if they were to buy it back into stock 

 

Wow, that is big drop. Thankfully mine is coming via Motorfinity so heavily discounted.

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I got a good discount on mine but even at that I was surprised by the offer  - I guess it shows though that the inflated used cars prices are no more and the market has readjusted- this seems to be the case across the board. Was always going to happen as production ramped up and new car orders filtered in 

 

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On 05/10/2023 at 11:31, SEAN G said:

Checked my Golf 8 Anniversary on Motorway out of curiosity to see how they valued it £55k list - not that I paid that but at 1000 miles and a few months old it’s around £42 k - oddly enough the same figure my dealer quoted if they were to buy it back into stock 

 

Yep give you £42 they sell it for £48-49 😉

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Just posted this in another thread where depreciation was mentioned, 

 

Just bought a MK 7.5 R but stretch budget could have easily secured me a  21 plate R with circa 30k miles, but if you know the issues and are not a walk up buyer, its not a risk on inheriting software issues that you would like to take.

 

Truly wanted to move to a MK 8 R, feel a little cheated that cannot naturally move to latest model but we decided that relatively low mileage, well specced MK 7.5 R was the better choice. MK 8.5 will be out of my price band for maybe 2-3 years, but think highly likely when it does creep into my purchase range a MK 8.5 will eventually be sitting outside. 

 

Think the key to depreciation is, how many potential buyers will know about extent of the software issues? If its a lot, it will affect the price of the MK 8 used, especially if there is quite a lot of desire to exchange existing MK 8 for the MK 8.5 as the fixed and uplifted version and forecourts are awash with MK 8's 

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  • 2 weeks later...
On 10/10/2023 at 20:51, Silverstoned said:

Yes, but they are software issues.  As VW eventually gets around to flashing updates to the software the problems continue to go away.  I've been luckky enough to have minimal issues with mine, but it's a '22.

 

Not all the issues (as understand) are software, as there has been hardware changes required to resolve faults, and you hope in the background some of the hardware is being quietly upgraded so later cars are less affected, all a natural evolution and think most expected the early MK 8 to have a snag list, its just the size of the issue was beyond anyone perception. 

 

So for me, software updates alone will not resolve the issues enough to go buy a second hand MK 8 with confidence, as unless have good knowledge of the car from say a forum like this, you not sure if getting one of the stable versions or one that's been plagued with previous issues. 

 

This is bit of an extreme case, but this car is up for sale not soon after was traded in at main dealer. https://www.youtube.com/watch?v=JN-n3b5S7WU

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  • 1 month later...

I have just received an email from Motorway asking if I was still interested in selling my 7 week old 73 reg 8R.   Shockingly, the latest valuation for the car, which would have cost £53,330 at full retail price, is only £33,712. 

 

Really glad I sold it a few days after taking delivery!!  Although I didn't pay anywhere near the retail, it was well over the latest valuation!

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4 hours ago, TurboTrev said:

I have just received an email from Motorway asking if I was still interested in selling my 7 week old 73 reg 8R.   Shockingly, the latest valuation for the car, which would have cost £53,330 at full retail price, is only £33,712. 

 

Really glad I sold it a few days after taking delivery!!  Although I didn't pay anywhere near the retail, it was well over the latest valuation!

 

That makes no sense. :dontknow:

 

My 18 month old 8R is fetching virtually the same.

 

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It looks like the car market is having a serious bath at the moment. I just tried to sell my runabout at trade price and had no calls what so ever, that was an eco box, so should have been good news all day long. There are a few motoring channels on YouTube who have been attending auctions, the prices for some top draw motors is tumbling. Insurance, and interest rates being so high can’t be helping either.  

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