Valuation confusion

[hunt808]

Hi - would really appreciate your thoughts on the value of a GTi that I tested yesterday. It's an unmodified manual, 2005 with leather seats, 6 CD changer, sunroof and only 25,000 on the clock. The owner wants £8,850. On the test drive it felt nice and tight, smooth, pulled and stopped well and didn't display any issues. I would describe the overall condition inside and out as good for a car of it's age.

Now the bad points: Alloys had been chewed by the evil worm. Hasn't been serviced for 30 months and hasn't had a cam belt change. My red warning lights were flashing! Also, still on its original rear tyres (some tread left). I guess you could say this points to the car being treated gently?

I did a full Glass valuation based on age/mileage/options and it came back at £8,300 for a private sale. I decided to suck up the cost of the wheel refurb and servicing, but I expect the seller to pay for the cam belt, so I went back with an offer of £7,850 which was rejected.

What do you reckon? Should I be using Glass as my starting point (I don't trust Autotrader prices, as they are often just what the seller wants, not what the car is actually worth or what they eventually receive)? With that kind of service gap should I just walk away, or is it not that big a deal with only 25,000 on the clock? Should I up the offer?

Bit confused over this one as I would really like a low mileage car as its going to be a daily driver and we are planning to keep long term.

Thanks,

J

[Eddie-NL]

Buy a newer one

With age things will deteriorate, and can you verify the mileage?

[skard]

Too much money!

To me it's more important it's had regular oil changes with higher miles than 2.5 years without an oil change and low miles (Agree with Ed - is it genuine?? Easy to manipulate on a 2005 car).

Also factor in the cambelt kit (already nearly 4 years overdue!), immediate service, brake fluid will be old, aircon will need regassed/oiled if it doesn't stink already & old tyres will start to crack. It probably has the onset of rusty front wings too.

If it was £6-6.5k then not so bad.
You'll get a much newer model for less money, and probably better maintained as in, it's had some maintenance done.

[Tortaruga]

Too much. I only paid £750 more than that figure for an '07 with 38k on the clock.

[phil1975]

Walk away, there's loads out there to choose from. 30 months without a service that's two and half years!! I would want to see a service every year regardless of mileage.

[mad_pete]

I would walk if it's not been serviced on time.

[Tamiyoman]

I would much rather buy a car with twice the mileage that has been serviced regularly 

[Moz]

I would much rather buy a car with twice the mileage that has been serviced regularly 

Agreed, £25k is great miles, but only if it's been regularly used and serviced right.

For around £7200/£7800 You'll get a great spec Mk5 with around 40-50k on it

[E30Dom]

Low mileage older cars should sometime ring alarm bells, why has it not been used, sat in a lot waiting to be repaired from an accident?

Seems alot for an early car...

[hunt808]

Thanks for your input guys. That's really helpful, and you have confirmed my gut feeling that I should be walking away.

On to the next one! :-)

J

[Nodz]

Alot of money for a car that will be 8years old next year, hasn't had a service for 2.5years, technically if cam belt had been done on time next year it would need its 2nd one as its every 4 years x amount of miles, alloy refurb costing nearly £400 (if diamond cut), tyres if originals will probably cracking so another £100+ per corner, brake fluid  change over due, air con service over due, the list could go on...

Personally walk away, you could get newer car with better spec for that money. It may have more miles but I'd rather have a car that has service and receipts rather than a low mileage car like that

[Moz]

Thanks for your input guys. That's really helpful, and you have confirmed my gut feeling that I should be walking away.

On to the next one! :-)

J

You should take a look at mine buddy - I've just had Xenons fitted too ;)

http://www.mk5golfgti.co.uk/forum/index.php/topic,53975.0.html

[hunt808]

Had a look at another couple of cars today: one at a dealer with DSG (amazing technology, but a bit too detached for our tastes), and a mint example advertised on here...I've seen new cars in showrooms that didn't look as good. I tried to find a fault...the tiniest scratch...condensation behind the glass...uneven tyre wear...but I just couldn't fault it.

Offer made. Offer accepted. Roll on next weekend!

http://www.mk5golfgti.co.uk/forum/index.php/topic,57215.0.html

Very, very excited to be a GTi owner  :-)

[Eddie-NL]

well done

that is a nice car, and well looked after

[homesqueeze]

Congratulations on joining the GTI family! You won't be dissapointed!