Short term car buy; which might hold value?
Discussion
Hi all. I am moving back to the North of Ireland for 6-12 months in December and need a car to get to work etc. I'll be selling it again after this period so I am after something which is more likely to hold its value; I understand this is a guesstimate. My budget is 10k ideally, could stretch to 13k.
I've got my eye on a mark 7 GTI Golf, however I'm open minded in general. I've just always wanted one of these little beasts!
Any assistance would be greatly appreciated.
I've got my eye on a mark 7 GTI Golf, however I'm open minded in general. I've just always wanted one of these little beasts!
Any assistance would be greatly appreciated.
Edited by QuantumQuief on Saturday 12th November 15:14
Buy something like this:
https://www.autotrader.co.uk/car-details/202211111...
https://www.autotrader.co.uk/car-details/202204184...
you'll have minimal depreciation & ti should sell quickly.
https://www.autotrader.co.uk/car-details/202211111...
https://www.autotrader.co.uk/car-details/202204184...
you'll have minimal depreciation & ti should sell quickly.
Firstly, the whole market is at risk of taking a dive following a period of low interest rates and constrained supply ( https://www.pistonheads.com/gassing/topic.asp?h=0&... ). Nothing is certain, but the risk of a significant drop (20-30%) can't be ruled out.
Given this risk of losing a quarter of whatever you buy, the less you spend the less you can lose.
Second, older (10+ yrs) performance/fun cars tend to hold their value in general, since they're popular with less wealthy younger buyers, so have a more favourable ratio of used buyers to new ones.
Third, if you do indeed buy in December and sell in May, six months later, then a soft-top would probably get a seasonal lift over your ownership period.
Fourth, many of the roads in Ireland are quite narrow and fun.
Therefore I'd get something fairly cheap with enthusiast credentials, not too big, and an open top. Therefore I'd be thinking something like an MX-5, MR-2 or possibly an MGF. That is unless you need a certain level of practicality.
A Mk7 Golf GTi isn't a bad pick though IMO, the Mk8 is generally derided so it may be the best version of the Golf there will be and be valued accordingly, and it's something that'll always be in demand I think. So if that's what you want, then go for it I think.
You’ll struggle to acquire anything on this island for reasonable money and top spec (top spec holds value better, will be more appealing to a wider market hence easier to sell if you’re worried about losing money). As another poster has advised, buy something on the mainland and take it back on the Liverpool ferry.
samoht said:
Firstly, the whole market is at risk of taking a dive following a period of low interest rates and constrained supply ( https://www.pistonheads.com/gassing/topic.asp?h=0&... ). Nothing is certain, but the risk of a significant drop (20-30%) can't be ruled out.
Given this risk of losing a quarter of whatever you buy, the less you spend the less you can lose.
Second, older (10+ yrs) performance/fun cars tend to hold their value in general, since they're popular with less wealthy younger buyers, so have a more favourable ratio of used buyers to new ones.
Third, if you do indeed buy in December and sell in May, six months later, then a soft-top would probably get a seasonal lift over your ownership period.
Fourth, many of the roads in Ireland are quite narrow and fun.
Therefore I'd get something fairly cheap with enthusiast credentials, not too big, and an open top. Therefore I'd be thinking something like an MX-5, MR-2 or possibly an MGF. That is unless you need a certain level of practicality.
A Mk7 Golf GTi isn't a bad pick though IMO, the Mk8 is generally derided so it may be the best version of the Golf there will be and be valued accordingly, and it's something that'll always be in demand I think. So if that's what you want, then go for it I think.
What about this?Given this risk of losing a quarter of whatever you buy, the less you spend the less you can lose.
Second, older (10+ yrs) performance/fun cars tend to hold their value in general, since they're popular with less wealthy younger buyers, so have a more favourable ratio of used buyers to new ones.
Third, if you do indeed buy in December and sell in May, six months later, then a soft-top would probably get a seasonal lift over your ownership period.
Fourth, many of the roads in Ireland are quite narrow and fun.
Therefore I'd get something fairly cheap with enthusiast credentials, not too big, and an open top. Therefore I'd be thinking something like an MX-5, MR-2 or possibly an MGF. That is unless you need a certain level of practicality.
A Mk7 Golf GTi isn't a bad pick though IMO, the Mk8 is generally derided so it may be the best version of the Golf there will be and be valued accordingly, and it's something that'll always be in demand I think. So if that's what you want, then go for it I think.
http://www.autotrader.co.uk/car-details/2022101908...
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