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Sell '11 GTI or let it rot for a year?

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mustachiofurioso1

Passed Driver's Ed
I've been deployed in Afghanistan since February 2012 and won't be back stateside for good until at least August 2013 it's looking like. My poor GTI is pretty much sitting in my apt's garage losing value rapidly. Anyone have any advice or insight about whether I should just keep making payments on it or try to unload it when I'm back on leave next month?

It's a 2011 Autobahn 4-Door DSG with about 18k miles. Still owe 25k on it. I know I'd be short a few grand if I sell. I live in Seattle, so we don't have Carmax, so I'd either be selling to a dealer or to someone on Craigslist (which would be a nightmare). Oh yeah I'll only be in town for a week too...

My main question is, do you all think the value of this thing is going to be much lower a year from now? Part of me wants to take the hit and get rid of it to save on parking, insurance and payments. The other part says to keep it since I'd be losing 30% of the purchase price. I also may not need a car when I get back since my wife will be in school and we'd probably only need one car. If I did need another car, I could buy a MKVII or a BMW with their awesome deployment discounts before I demobilize.

Thanks!
 
danielj1

danielj1

Go Kart Champion
I'm confused by your comments. How will it be losing value rapidly if it's just sitting there? If anything, the depreciation would slow as no miles are being accumulated.

Cars in Seattle hold their value pretty well and these types of cars are in high demand here. Either way, keeping or selling now you shouldn't lose your shirt on the deal.
 
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mustachiofurioso1

Passed Driver's Ed
Perhaps rapidly is the wrong word. Since the MK7 will be out next year, won't that decrease in value considerably by the time I come back? Another factor is the bumper to bumper warranty will be gone, reducing value. Then again it may only be worth a couple of grand less than it is now. I'm not really an expert with new car economics. If I'm not going to lose my shirt on it waiting a year to maybe sell it, I'll just hold onto it until I get back since I have no idea what I'll be up to by then. Thanks for the input!
 
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Rolling_GTI

Rolling_GTI

Ready to race!
think about it this way. If it sits for a year till you come back. You have a nice car ready to go when you hit the ground. With the extra money you make deployed if you put just 1/4 of the extra towards the car you're way ahead on the loan.

Just store it correctly. place a few dryer sheets inside to keep mice out of the car, tires on boards or ramps, unplug battery or place on charger, change the oil. Fill it with gas/stabil mix and run it empty. Do all that and I bet it'll fire right up when you come back and fill it up.

Be sure to tell your insurance company it will be stored and your premiums will go way down, they will likely want a storage receipt.
 
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AF-MKVI

Go Kart Champion
I would keep it and pay it off with your deployment money. Then have years of driving with no car payments... Car payments are for suckers.
 
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mustachiofurioso1

Passed Driver's Ed
True, the R32 is *almost* paid off and if I pay this thing off, I'll be pretty ahead. Even if we don't need two cars later, I've already taken the major depreciation hit anyways, it'll be pretty minor all things considered. I'll just change the insurance policy on it and keep it for the time being, thanks for the opinions!
 
socal87

socal87

Drag Race Newbie
Once you've bought a car, you shouldn't be worrying about the value. A car is a very bad investment - no matter which way you swing it, you can only lose money. I would park it on blocks if it won't be driven, drain the fuel, take the battery out and put it on a maintainer...file a Non Operate to save money on registration, same with insurance, and when you come back Stateside, pay it off as much as possible and mod the shit out of it. It's a great car to have for a good while. I don't intend on selling mine, not for a very long time...
 
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mustachiofurioso1

Passed Driver's Ed
socal87 said:
Once you've bought a car, you shouldn't be worrying about the value. A car is a very bad investment - no matter which way you swing it, you can only lose money. I would park it on blocks if it won't be driven, drain the fuel, take the battery out and put it on a maintainer...file a Non Operate to save money on registration, same with insurance, and when you come back Stateside, pay it off as much as possible and mod the shit out of it. It's a great car to have for a good while. I don't intend on selling mine, not for a very long time...
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Awesome good advice man. I'm not exactly hurting for money, but I don't like wasting it either. I think part of me is yearning to get something else later on, but that would be a bad move. Pretty sure when I actually drive the thing again I'll change my mind. The boredom is getting to me already lol.

I would put it on blocks, but don't think my apt complex would allow that. I just got Conti DW's to replace my craptastic Dunlops before I left (Dunlops had sidewall problems in two of them) and will probably just have my wife drive it now and then in the meantime.
 
McQueen77

McQueen77

Banned
mustachiofurioso said:
Perhaps rapidly is the wrong word. Since the MK7 will be out next year, won't that decrease in value considerably by the time I come back? Another factor is the bumper to bumper warranty will be gone, reducing value. Then again it may only be worth a couple of grand less than it is now. I'm not really an expert with new car economics. If I'm not going to lose my shirt on it waiting a year to maybe sell it, I'll just hold onto it until I get back since I have no idea what I'll be up to by then. Thanks for the input!
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No, it wont go down that much from the mk7. More importantly, you owe a grip of money onsomething you never drive
 
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mustachiofurioso1

Passed Driver's Ed
McQueen77 said:
No, it wont go down that much from the mk7. More importantly, you owe a grip of money onsomething you never drive
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Great, yeah I do owe a lot. I haven't been in a rush to pay it off since my APR is like 0.9, so interest is pretty negligible. I'm been focusing on my school loans instead.
 
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plac

Guest
i got a sell quote from autonation for my car a few months ago. almost exactly like yours. autobahn, DSG, ~14k miles. They give strong offers, more than a dealer would give.

Got offered $20,100. I wasn't interested at the time.
 
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mustachiofurioso1

Passed Driver's Ed
plac said:
i got a sell quote from autonation for my car a few months ago. almost exactly like yours. autobahn, DSG, ~14k miles. They give strong offers, more than a dealer would give.

Got offered $20,100. I wasn't interested at the time.
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I got about the same quote from them, $20.5k. Could get some more through Craigslist or something, but it's not worth the hassle I think. Will just drive it a couple more years after I'm back. Like your youtube vids btw.
 
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