What is the market like for selling Mk5 Golf GTI's in Victoria?

[Mikey1]

Can anybody provide me with advice on how difficult it might be to sell my low km, pristine condition Mk5 Golf GTI, given it's currently banned for learner and probationary license holders in the state of Victoria? I have done some research on carsales.com.au for manual models, with 14 currently on offer, but a week ago it was 15 with the same 14. There's a good mix with low and high kms, with and without options. I'm worried that this model is hardly selling. I hope I'm wrong in being concerned.

[funkamedic]

Hey Mikey! I was recently in the market for a manual mk5 GTI, and although I'm in Brisbane I was keeping an eye on the market nationwide over a number of months, so can maybe offer some insight.

I think you can sell any car if priced right. Mk5's are no prob a little harder to move these days seeing as they are getting older and mk7's are now on the market. When I was looking I was preferring later models, i.e 07-08 simply because they are less old and I've always figured car produced later in a models lifespan will have a few improvements of a early examples.

Having said that (judging by your sig) your car has a good list of options, is a good colour option (IMO!) and sounds like it has been looked after and in good nic. So you have some advantage over others selling similar cars. I think realistically you will struggle to get anything over $15K, depending upon how many kms you car has.

I have noticed that some of the mk5 GTIs on Carsales have been advertised for a long time, including those in Vic. Most of them have not dropped in price though, so the sellers are prob being a tad optimistic.

From a sellers point of view, when you create your ad make sure you have decent daytime photos that include exterior, interior and engine bay. Don't bother with macro shots of badges etc and don't use filters (both pet peeve!). In your description don't include the old "wheels car of the year 2xxx" blurb, or list all those GTI standard features that Carsales lists by default anyway, and most buyers know already (body kit, 17" alloys etc etc). Just get the point and list your options, how many owners and all the pertinent points that will hopefully set your car apart from the others.

I hope that helps, and good luck!

[Mikey1]

Thank you funkamedic for posting a detailed reply to my query. I agree with most of your comments, but you didn't acknowledge the fact that a sizable chunk of the market for this model would be probationary license holders, who are banned from driving this model. The same 14 cars which I referred to in my original post are still for sale in Victoria. While I accept circa $15K would be a realistic outcome, the current stagnation of what's on offer suggests nothing is biting at present. My GTI would probably trump all the manuals on offer in Victoria for a number of reasons, including great condition interior and exterior, unmarked alloy wheels, low kilometres (currently 68K km), completely original, one owner, always serviced by me using only Castrol Edge 0W-40 and the previous version of the same oil called Formula R Synthetic 0W-40. The other thing which will catch out unsuspecting buyers is the huge variation in oil consumption. While the owner's manual states that anything up to 1.0L/1,000 kms is acceptable, I have kept a log of mine for the past two services, the most recent having used 0.85L over a distance of 9,378 kms, which equates to just 0.09L/1,000 kms. I challenge anyone to trump that!

[funkamedic]

No worries Mikey. Yeah, i didn't address your point regarding P platers mainly because I'm not really across the rules for P platers, especially across the different states. But if mk5 GTI's are banned for P platers in Vic then it will definitely reduce the market for your GTI but there's not much you can do about it really. It might not reduce the market by a huge amount though.

In some ways I would prefer not to sell my car to a P plater anyway (not that that helps you!). Make sure you advertise here on VWwC too. I think mikinoz advertised and sold a similar car and it seemed to sell pretty quick (albeit DSG and with a stage 1 tune from memory). He had a realistic price and the car looked to be in great condition which would have helped the sale for sure.

[brad]

I'm not sure why you'd think P-Platers make up such a large proportion of the potential sales market.

Plenty of people out there that haven't got the coin for a new car & want something nice.

I think all you have to remember is that great condition & low kilometres might not get you more money but it will get you a quicker sale.

In the end it's still a 9 year old, mass produced, mass marketed, hot hatch that probably isn't as quick as a falcadore.

[Mikey1]

I'm not sure why you'd think P-Platers make up such a large proportion of the potential sales market.

Plenty of people out there that haven't got the coin for a new car & want something nice.

I think all you have to remember is that great condition & low kilometres might not get you more money but it will get you a quicker sale.

In the end it's still a 9 year old, mass produced, mass marketed, hot hatch that probably isn't as quick as a falcadore.

I sold my previous car, a Honda Integra, to a uni student on a probationary license, who had a limited budget, so I guess that's where I'm coming from. I hope you are right, in that my model has wider appeal. I won't be selling my GTI until October, so I'll have to wait a couple of months to find out what the market is really like. I know that no matter what options, kilometres and condition my car is in, it won't make much of difference to the actual selling price, but I would think having a stand-out example can only help, and as you say will yield a quicker sale. I'm not keen on holding back for months, while the car still costs me money on rego and insurance, only to get the same result!