I’ve seen all the issues with the Mk4’s so have ended up jumping ship for my next car.
 

I’m on my second VRs, first was a race blue TDi, that went at around 2 and a half years and was just about braking even on the PCP.

 

My current 68 plate Meteor Grey VRS 245 DSG ordered as soon as the WLTP stuff was sorted out is valued by WBAC at £19245 with 20k miles on. About 4.5k equity! Wow! 
 

The current issues with the MK4 and the chip issues have had a massive effect on values 😁😁

Yeah, I’d quite like to sell my vRS now and pocket the cash. The problem is there is nothing cheap to buy. So I’m not really going to be gaining anything. In terms of “upgrading”. It’s a bit like housing. “Oh, my house went up by 10% last month”. Yeah, well, so did everybody else’s, so you’re really at a nett zero increase. 

9 hours ago, SimonD316 said:

My current 68 plate Meteor Grey VRS 245 DSG ordered as soon as the WLTP stuff was sorted out is valued by WBAC at £19245 with 20k miles on. About 4.5k equity! Wow! 

 

The current issues with the MK4 and the chip issues have had a massive effect on values 😁😁

I'm a big fan of buying a car at the end of the model's life, after all the bugs have been sorted out.

I get that it means you end up with an arguably dated car, and also miss out on some fancy new functionality (some of which can be excellent), but I prefer to buy something that is tried and tested.

I'm sure the MK4 issues will be sorted out, but it must be a nuisance to have paid to be a test-bed for debugging the MK4. It would be nice to see some sort of goodwill gesture from Skoda for MK4 early adopters. Maybe an extended warranty, such as Ford did with certain Powershift-equipped cars?

There is actually not a lot of extra new technical goodies on a MK4 - that you canny find on a MK3....the biggest seller was meant to be the all-singing-all-dancing MIB3 system.....we know how that one's working out!

My VRS tdi had gone up £1000 in the last month. I am still not selling it though as I will most likely keep this till it starts with big repair bills. Hopefully that won't be for years to come 🤞

I think the current high used car prices it is a combination of poor feedback around the new Mk4, but mainly due to the lack of new cars in the market due to semiconductor shortages.

 

It isn't just the Octy III that has increased in value, many other makes and models have too.

 

The downside is that although you are getting more for the car you are selling, the price of the car you are buying will have increased as well.

 

As a sage old car sales manager once told me (many many moons ago), it isn't the price of the car on the forecourt, or the price of the part exchange that is important, it is the price to change that hits the pocket.

 

Of course being in positive equity on a finance deal is always a pleasant thing  

I'm in the same boat, the valuations on mine are beyond ridiculous and after years of PCP it looks like my best chance of getting out now with some positive equity. Mines going at the end of the month.

 

Its true that replacing it will cost more but I'm not going like for like. I'm only doing around 3k miles a year and it's a bit of an ornament. We are going from a 2 new car family to a 1 new and one pretty old. Im moving to a park anywhere, carry anything workhorse that I don't have to care about whilst I move house and renovate. A recent present left for me by someone in the passenger door of my VRS at work makes me want to have a shiny car sat in their car parks even less.

 

I just hope the bubble holds a few more weeks!

Looks like the semiconductor shortage will last into rest of the year so you will be fine 👍

1 hour ago, ima said:

Looks like the semiconductor shortage will last into rest of the year so you will be fine 👍

GM in the US have announced that they will halt production at nearly all their American factories due to the chip shortage

General Motors will idle the plants starting Monday for two weeks due to COVID-19 affecting the production of semiconductor chips

I think that any of us on Finance will be laughing all the way to the bank....if dealers want our cars, they will have to pay us properly for them.

You’d think so…

 

I was contacted by the dealer who sold me my Scout offering to buy it back. They offered £1000 less than WBAC. 
 

They can’t have wanted it that badly!

34 minutes ago, Deerfoot said:

You’d think so…

 

I was contacted by the dealer who sold me my Scout offering to buy it back. They offered £1000 less than WBAC. 
 

They can’t have wanted it that badly!

Why? They’ve done exactly what any buyer would do first. Go in with a low offer. Nobody, be that dealer or private buyer wants to pay any more than they have to. 

And I’ve done what any seller would do, take the higher offer.