207 GTI given away.
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Thread: 207 GTI given away.

  1. #1
    1000+ Posts Gamma's Avatar
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    Default 207 GTI given away.

    Well I just sold the 207GTI.
    $5500!

    A steal.....best deal he ever made.

    Now the rant...

    Who would buy a $35,000 car only to have it worth $5500, seven years later. (less than $4k if you take into account the fresh rego, two tires and ballpoint).

    That and the fact I had very little interest from potential buyers.

    (Thanks all you fellow froggers who did not step up to the mark and fork out big $$$ for it.....you're a tight bunch!!!)....

    .....I don't really mean that...but you are a tight fisted bunch....myself included.

    Even though this was a friends car that I got lumbered with flogging....its still a bitter reminder....
    DO NOT BUY A NEW PEUGEOT!!!!!....EVER!

    Unless you keep it until it has rusted to a heap...the resale value that plummets like a barbed-wire dirigible ....will kill you!...

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    My Land-rover Defender 90...three years down the track... is still getting offers for as much, (or more), as I purchased it for. Then again, its proper hardware...not White goods, (second hand microwave anyone....or should that be 207GTI!!!!).
    Last edited by Gamma; 18th September 2016 at 11:42 AM. Reason: speelink.
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  2. #2
    Fellow Frogger! Bluey's Avatar
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    The second hand car market is saturated at the moment. No one wants to buy a secondhand car that isn't a collectable because finance on new cars is so low and any moderate or major repairs on cars 10 years old or more cost more than the value of the vehicle.

    Vehicles that are pulling good money second hand are ones that are current model i.e. Isuzu DMax, Subaru Impreza, etc.

    And anything with known issues, 207 Gti definitely has these, gets written off from the buyers list straight away.

  3. #3
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    I totally agree with you Gamma !! The very reason i would never buy a new Froggie.... or even a recent used one. Sad to say :{
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    1000+ Posts jo proffi's Avatar
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    I thought about buying your car, and the reasons I didn't had nothing to do with being french, price, having issues blah blah blah.

    It simply came down to only having three doors, so it failed the primary use test….Practicality.

    Jo

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    And Gamma's Landy is now a collectable.

    Sadly it has reached the point when even the scrappers in Sydney won't pay anything for a running registered car. Some might "do you a favour" by crushing it.

  6. #6
    1000+ Posts jo proffi's Avatar
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    Quote Originally Posted by seasink View Post
    And Gamma's Landy is now a collectable.

    Sadly it has reached the point when even the scrappers in Sydney won't pay anything for a running registered car. Some might "do you a favour" by crushing it.
    Got offered $180 for the rego'd scenic RX4 and $120 for the non runner, just last week.

    Jo

  7. #7
    Fellow Frogger! SilverGTi_6's Avatar
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    Default 207 GTI given away.

    I really don't think it's anything specific to Peugeots. You can get a 2009 Holden commodore for 3k and they were a similar new price to the pug.

    It's just the used car market in general and a fantastic reason to never buy a brand new car!
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  8. #8
    1000+ Posts N5GTi6's Avatar
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    Did the 207 have the 1.6 engine that enjoys quite a reputation for blowing up ? I wouldn't buy one either.......

    Peugeot might have brought this one on the buyers themselves.

    I bought a 306 GTi6 new in 1999 for $40+K - kept it for 13 years and sold it for approx $9K.

    No-one will claim that the purchase of a new car is a wise investment - it's a consumable and depreciates as such.

    Mate of mine bought an E55 Mercedes for about $80K less than the new price when it a few years old and it was certainly still a very nice machine - that's cars !!!

    Cheers

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  9. #9
    1000+ Posts driven's Avatar
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    Should have been in the Datsun Car Club Instead

    Datto 1600, 1971 purchase price around $1700, resale $16,000 now
    Old 180 B now $8,000.

    https://www.carsales.com.au/cars/res...srcx=makemodel

    A better choice than a R17, should have bought the 240Z, same price in 1973

    R17 $1000 at best

    240Z $50,000 plus

    https://www.carsales.com.au/cars/res...srcx=makemodel

  10. #10
    VIP Sponsor David Cavanagh's Avatar
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    The biggest depreciating car on the market is Audi so be thankful you didn't get one of them.
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  11. #11
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    You're not wrong there. I bought an Audi A6 allroad in 2013. It was 6 years old.
    New price, ballpark $135K drive away, 6 years old, $32K. It's a lovely car, and I would happily buy it again, but no way would it be new.

    Quote Originally Posted by David Cavanagh View Post
    The biggest depreciating car on the market is Audi so be thankful you didn't get one of them.
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  12. #12
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    Quote Originally Posted by SilverGTi_6 View Post
    I really don't think it's anything specific to Peugeots. You can get a 2009 Holden commodore for 3k and they were a similar new price to the pug.

    It's just the used car market in general and a fantastic reason to never buy a brand new car!
    Yep, and that way you may get the opportunity to buy a car that someone has araldited the headlights bulbs on.
    speaksgeek and XM Mechanic like this.
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  13. #13
    VIP Sponsor David Cavanagh's Avatar
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    Quote Originally Posted by speaksgeek View Post
    You're not wrong there. I bought an Audi A6 allroad in 2013. It was 6 years old.
    New price, ballpark $135K drive away, 6 years old, $32K. It's a lovely car, and I would happily buy it again, but no way would it be new.
    Audi are the worse but German stuff in general has huge depreciation. What do think this Porsche was worth new?

    2003 Porsche Cayenne 9PA S Gold Automatic A Wagon in NSW | eBay
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  14. #14
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    I was keen on it actually and was just waiting for an insurance payout/repair after another car hit mine. That was in April but the insurance company & other driver dragged the whole thing out making up ridiculous stuff. Last week they finally agreed they were liable and would settle. Jeez

  15. #15
    1000+ Posts robmac's Avatar
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    Quote Originally Posted by David Cavanagh View Post
    Audi are the worse but German stuff in general has huge depreciation. What do think this Porsche was worth new?

    2003 Porsche Cayenne 9PA S Gold Automatic A Wagon in NSW | eBay
    Ok you obviously know the Porsche was selling at $136k odd
    So after 15 years it worth around 12% of it new cost, ie $16,500

    So lets do the comparison with a Peugeot 2001 306, what were they worth new in in 2001 around $30k ?

    Carsales suggests that 306s are current selling $2k -$3k (for the optimists) and for next to nothing if and when you buy them.
    So that shows that a 15 year 306 is worth up to 10% of it new value.

    So apple for apple the ratio of depreciation is comparable,

    The only real difference is the Porsche started at a much higher price. And with a service history, as some have, it is a cracker deal.

  16. #16
    Fellow Frogger! dhaw's Avatar
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    $10 to $15K buys you a not so old, hell of a good value second hand pug. My first GTI6 was $44k in 1997 and sold with a rattling bottom end at 255k for about $3000. Its replacement was only 2 years newer and I paid $11k for it with just 118K on the clock (Church on Sunday etc ) Its now worth about $3000! So no...... wouldn't buy a new anything myself!

  17. #17
    1000+ Posts robmac's Avatar
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    Quote Originally Posted by dhaw View Post
    $10 to $15K buys you a not so old, hell of a good value second hand pug. My first GTI6 was $44k in 1997 and sold with a rattling bottom end at 255k for about $3000. Its replacement was only 2 years newer and I paid $11k for it with just 118K on the clock (Church on Sunday etc ) Its now worth about $3000! So no...... wouldn't buy a new anything myself!
    Which goes to prove that most European cars have ridiculously steep depreciation curves. Doesn't matter if it's nominally French or German.. Which make them excellent value for the competent home mechanic.
    So no...... wouldn't buy a new anything myself!
    At one stage I thought that way, however as sickness and old age came into the equation. A new car, with 5 year warranty, capped service and roadside assist became very attractive.

    And a modern fuel efficient engine with more than adequate performance was a bonus. And at a very affordable price.
    dhaw and N5GTi6 like this.

  18. #18
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    I dropped $14K on a brand new Clio, don't expect to ever really see any of that back... Will be with just keeping with what it will be shortly be worth!

    At least losing half of 14K in a year or two is better than half of 40K!!

    But agree that new cars are so cheap, there is little incentive to bother with old stuff. My other motivation (aside from new and shiny...) was that I needed it with a very minimum of fuss and time spent and I needed to not spend any time fiddling with it for a while.

    Had a very very clean and very very low KMs 207GTI being for sale around the corner I would have probably bought it.

  19. #19
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    Let's cheer on those people buying the new cars, because without them, there would be no near-new second-hand cars on the market that have suffered their major depreciation.

    At one stage I thought that way, however as sickness and old age came into the equation. A new car, with 5 year warranty, capped service and roadside assist became very attractive.

    This is a very good point. My neighbours, both in their 80s and very savvy, bought a brand new Polo. Reliable, capped-price servicing, economical, assist, they know what they'll be up for. Depreciation is irrelevant to them, because in their own words, this car will "see them out".

  20. #20
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    Well, I've bought two new cars in my life.

    First, a 1979 Moke "1275" Californian. Still have it & have had lots of offers to buy it - not for sale.

    Second, a 2005 Subaru Forester X manual (wife's - replacing the second Renault Virage wagon of a pair that spanned 23 years). Still sort of have it as it's passed to a daughter owing to wife wanting an automatic (bought second hand 2006 Forester automatic).

    Then there's the R8 - bought new by my mother in 1966 & passed to me when she died in 1996. Still have it & not for sale (had offers).

    I am without motivation to buy anything modern & French except maybe for the just released Twingo GT (which sounds promising) or the Twizy (which would be another toy). Neither will make their way here though. Indeed, I am without motivation to buy anything modern at all. The are some nice lightweight sports beasties around (Morgan 3 Wheeler, Elise, MX5, 86) but the Djet & Moke fulfil that brief anyway. And there's one nice "hot hatch", the Fiesta ST, but the 4CVG & R8 fulfil that brief.

    I suppose when the Forester becomes unviable I'll get something else & probably we'll downsize for that. The Twingo GT in loathsome double-clutch transmission form might have been a case I could make out to my wife but . . . . Anyway, we'll see what's available in a decade's time.

    cheers! Peter

  21. #21
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    All second hand cars are next to worthless.

    Blame the overcrowded, cheap-as-chips new car market.

    You can buy a new Hyundai, Mazda or Toyota for under $20k drive away. With warranty and the boring efficiency that a modern car brings.

    Throw in a manual transmission to your second hand car sale and it's virtually impossible to sell to anyone.

    Sad, but true.

    Don't take it personally.

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    Quote Originally Posted by dj4llen View Post
    All second hand cars are next to worthless.

    Blame the overcrowded, cheap-as-chips new car market.

    You can buy a new Hyundai, Mazda or Toyota for under $20k drive away. With warranty and the boring efficiency that a modern car brings.

    Throw in a manual transmission to your second hand car sale and it's virtually impossible to sell to anyone.

    Sad, but true.

    Don't take it personally.
    Curiously for that contention, all of my 4 toys are appreciating in value despite their manual transmissions.

    cheers! Peter

  23. #23
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    Quote Originally Posted by 4cvg View Post
    Curiously for that contention, all of my 4 toys are appreciating in value despite their manual transmissions.

    cheers! Peter
    Consumer products and collectables follow different rules

  24. #24
    1000+ Posts PugMonkey's Avatar
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    I'll stick with my "Buy it for $1500 - Sell it for $1500 rule!

    Having said that I like the W124 300CE Coupes from Benz. Having watched them on Car Sales, Ebay and the locals, they are holding some value where as newer models of Mercs are selling for way less. The dreamers are wanting 20k for a 1992 "rare" sportline whereas 1988 model is advertised for 4 - 6k. These things were $138000 new in the shop. Newer models of MY2000 +would be lucky to fetch 2k..

    Got to find one with a tow bar so I can to the pug to the track - Not so easy....
    ....now watch a Peugeot turn into a corner!

  25. #25
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    For my basic motoring needs I buy cars for $500or less, use them very hard and then pull them apart when they need work, and sell the bits.
    I was doing this with 404s 30 years ago and now I have S2 405s, extremely cheap motoring, why would I do anything else?
    The money goes toward my competition cars.

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