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MK8 Depreciation


SEAN G

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19 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 does seem very low.

 

Current Motorway valuation for mine at (21k miles and 3 years old next March) is £28,219.  Down £400 from last month. 

 

IMG_2385.thumb.jpeg.e86033c4e53c2e724d179b973d681227.jpeg

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When my car was delivered, it was in the middle of what seemed liked loads of 8Rs arriving, following a bit of factory catch-up.  Now we also have end of year syndrome and the £3,000 finance deposit contribution.  There was no contribtion at the time I sold my car, although I got £1,250 which was the amount available when I ordered it in November 2021.

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7 hours ago, Booth11 said:


That does seem very low.

 

Current Motorway valuation for mine at (21k miles and 3 years old next March) is £28,219.  Down £400 from last month. 

 

IMG_2385.thumb.jpeg.e86033c4e53c2e724d179b973d681227.jpeg

 

 

To be fair Becs I think these figures from Motorway would be for a base model car with no options. As we know, Motorway does not ask for options when it estimates cars, only asks for mileage. I think your car will go for a lot more than that given your options!!

 

I sold my old 7.5R through Motorway and before it goes into the closed auction, they do have a conversation with you and you can tell them about options which they include on the spec. Although we all know you never get your full money back on options, it will make a difference to the price you'll be eventually offered as the dealers are bidding against each other. And obviously a better optioned car is more desirable to them.

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It has to be remembered that buying and selling can be quite relative, what I paid 3months ago in change, will be the very same amount of money now as the car selling,  and the car buying have depreciated similarly. 

 

Of course if bought new, at inflated prices there was always going to be an inevitable bump, but personally see no reason for any regrets, only those in the business to, buy cars as investments, the rest of us buy to drive, and that's box it should always live in, we could all look back and been more sensible on this and that, but guarantee the pleasure would have been compromised and that's not what life is about. 

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26 minutes ago, Hertsman said:

It has to be remembered that buying and selling can be quite relative, what I paid 3months ago in change, will be the very same amount of money now as the car selling,  and the car buying have depreciated similarly. 

 

Of course if bought new, at inflated prices there was always going to be an inevitable bump, but personally see no reason for any regrets, only those in the business to, buy cars as investments, the rest of us buy to drive, and that's box it should always live in, we could all look back and been more sensible on this and that, but guarantee the pleasure would have been compromised and that's not what life is about. 


Agree @Hertsman.  Enjoying your car is the key. I keep an eye on values when topics like this pop up, as now and then as a snapshot at any time of what I might be needing for cost to change, and as a rough guide to selling privately, but otherwise take with a pinch of salt until such time comes that ready to make the change.  I’ve never bought a car with my mind on resale value just like I only option a car for my needs/wants, not with the next owner in mind. 
 

Not in any rush to change from my current Mk8R, be quite happy to keep it for another year or more, but timing with the 8.5 could work out well for my next move.  

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1 hour ago, Booth11 said:

Not in any rush to change from my current Mk8R, be quite happy to keep it for another year or more, but timing with the 8.5 could work out well for my next move.  

Haha Me too - because I’ve used mine so little I see zero point in changing for a while. I’ll wait for the 8.5 and then allow some time for them to develop any fixes.  Then maybe buy one, later on in the model life.  Done this with Gti and my R. 
Whatever way you look at it, an R /GTI well spec’s, cared for and thoroughly maintained is like a gold bar.  The ownership icing on the cake really. 

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