Author Topic: Chuck Money At It Or Buy Another?  (Read 882 times)

Offline DaveyBoyWonder

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Chuck Money At It Or Buy Another?
« on: November 05, 2018, 10:43:33 AM »
Morning all. Need some advice... I have a 2006 GTI which I initially bought as a runabout for the wife whilst I mess about with my T5 camper but the Golf has gotten under my skin - its a great car. Weird spec (that cream heated leather for a start!) but mechanically its 100% but cosmetically, outside especially its really tired. Was owned by an old guy I think from new before I got it who maintained it like no other car I've ever had (even went to VW for wiper blades!) but looks like he bounced it off hard objects sometimes!

Anyway, question is this. I reckon if I put it up for sale now it could be worth about £3k and I'm looking at £2k for a full repaint (which it needs), wheels need a refurb and a few interior trim bits to make it perfect. So would I be stupid ploughing that much money into a car I know is good underneath and I'd be quite happy keeping forever whilst doing bits to it or should I just sell and put a couple of grand into a better example? What would the collective do?

A quick look on Autotrader shows loads of cars of a similar age to mine with marginally lower mileage for between 4 and 5 grand so my head says putting the money into mine to make it 100% is the right way to go??

Offline andy7ven

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Re: Chuck Money At It Or Buy Another?
« Reply #1 on: November 05, 2018, 11:25:42 AM »
Bit of a dilema!!! I'm the same, got a 05 (owned since it was 3 half years old) plate only got 70220 on the clock 13 dealer stamps, timing belt & water pump every 4 years, brake fluid service every 2...

So mechanically it's sound and i know what i've got, but i've got the usual dings dents from people banging the door into it plus some knob keyed the drivers door... I'd like to have the bodywork sorted and the wheels refurbed again but the car still won't be worth no more than it is now (Around £3200 trade in price)...  You could buy another with great bodywork ect but mechanically it could be a dog  :thinking:

Also have the beige interior and the parts aren't available anymore for it, need some new interior door handles as the soft touch rubbers filthy and worn and TPS said they haven't been available since 2014... Can't even get a new hazard button, been on order for 2 months and was still saying new year so cancelled the order!!! :sad1:
« Last Edit: November 05, 2018, 11:28:58 AM by andy7ven »

Offline DaveyBoyWonder

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Re: Chuck Money At It Or Buy Another?
« Reply #2 on: November 05, 2018, 11:59:49 AM »
Bugger - replacing the interior door grabs was high on my list :( Might have to replace all the door cards with the dark grey ones with new grab handles etc - reckon that with the lighter seats would look cool anyway.

Like I said, not too bothered about value of it as I whatever I do I'm not planning on getting rid for a long, long time but looking at what £5k gets you, I'm starting to think getting mine top notch seems to be the way to go given that mechanical issues could potentially cost a load more than a paint job!

Offline colesey

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Re: Chuck Money At It Or Buy Another?
« Reply #3 on: November 05, 2018, 12:55:13 PM »
Given that you were happy to buy it in its present condition, I’m sure someone else will and you can avoid the hassle of refurbing it. Either that or just enjoy it. Better the devil you know etc.

Online Octoparrot

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Re: Chuck Money At It Or Buy Another?
« Reply #4 on: November 05, 2018, 01:31:19 PM »
Given that you were happy to buy it in its present condition, I’m sure someone else will and you can avoid the hassle of refurbing it. Either that or just enjoy it. Better the devil you know etc.

I agree.

Offline Tin Robot

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Re: Chuck Money At It Or Buy Another?
« Reply #5 on: November 06, 2018, 07:34:27 AM »
I recently bought a Mk5 Golf GTI and I am restoring it to "as new" as much as possible while keeping it near stock.

Engine wise the service history is immaculate with a service every year except one. It has only done 38,000 miles so must be one of the lowest in the country. For me, and this may not be popular on here, I think a iconic car (which the Mk5 is) shouldn't be messed with much and deserves hanging onto.

The car was a bit of a state as it has sat for a while and was used to take kids to school. The result was the interior trim was badly damaged in places (back to the white plastic), bits were missing (ashtray insert, bottle opener) and lots of nail marks were on stuff like the handles. (Handle rubber bit is £15 btw)

The interior has now been refurbed including the seats and I'm now working on the outside, including replacing the passenger window because it has a scratch on the inside! Wheels were okay but had white worm so those are being done and I need a couple of new tyres as the old ones were cracking (michelin Pilot 4).

I've altered a couple of things - stereo is now a pioneer DAB203 with apple carplay and the rear boot struts are being replaced for Skoda auto opening ones. But in general just about everything except the floor mats are OEM (and these will likely be changed).

Next job is new brakes pads and discs (brembo but stock spec), rear springs (corroded) and while it is up on the ramps everything will get a good clean and screws resprayed. The cam follower, refurb steering wheel and a bit of respray and it should be done. In total it will have cost me a fair bit (all in £9,000) but for that I will have a car that will either sell at the top of the market or will last me years.       

Planning on doing a readers cars thing over xmas when I have the time.

Not many stock Mk5 GTIs out there and even the ones that are need work so for me preserving one is the right thing to do.

« Last Edit: November 06, 2018, 07:39:26 AM by Tin Robot »

Offline Juliand

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Re: Chuck Money At It Or Buy Another?
« Reply #6 on: November 06, 2018, 10:05:39 AM »
Agree.... It is a dilemma.

What with a cam chain costing circa a £1000, if all of the components are changed, and a cambelt / waterpump, at circa  £700 (garage prices), you can be looking at half of the car's value, and not enhancing the re-sale value. That's why a lot of older cars  become neglected on the maintenance side. People probably wouldn't bat an eyelid on that kind of a bill on a new-ish £30,000 car. At some point these cars will become 'collectable' or gain classic status, and increase in value, so something with a portfolio of invoices etc will be more desirable as a weekend toy, rather than a daily. Difficult to get your head round though :thinking:

Offline Dogma

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Re: Chuck Money At It Or Buy Another?
« Reply #7 on: November 06, 2018, 02:27:31 PM »
Sorry to say, but the government will tax them off the road with the coming years.

My tax on my ed30 is £10 short of £300 now.


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Time out time out was going on this site!

Also there seems to be no Admins here, been a member for some time and I'm unable to post anything.........

Lucky our MK5 GTI's are more reliable than this site!

Offline colesey

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Re: Chuck Money At It Or Buy Another?
« Reply #8 on: November 06, 2018, 04:18:26 PM »
Cheer up, we will eventually get exempted from MOT

Offline Dogma

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Re: Chuck Money At It Or Buy Another?
« Reply #9 on: November 06, 2018, 05:13:12 PM »
Cheer up, we will eventually get exempted from MOT

Sorry for sounding down.

It’s the end of the world! Not just yet


Sent from my iPhone using Tapatalk
Time out time out was going on this site!

Also there seems to be no Admins here, been a member for some time and I'm unable to post anything.........

Lucky our MK5 GTI's are more reliable than this site!

Offline amanda

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Re: Chuck Money At It Or Buy Another?
« Reply #10 on: November 07, 2018, 01:26:15 PM »
I was in same predicament with mine when the gearbox/flywheel and clutch failed..........I ended up throwing money at her as she has been so reliable and never let me down(my daily works bitch)
So am afraid now she’s ended up a keeper as previously said better the devil!!!!!
It’s how much you feel she’s got under you skin as to what you decide to do

Offline probedb

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Re: Chuck Money At It Or Buy Another?
« Reply #11 on: November 08, 2018, 01:39:46 PM »
I just fell into this boat too. Bought for £3k a year ago and it's cos me almost as much to date. But I do like the car. Last bill (car in the garage) is a failed oil pump. Typical as I'd just bought a set of 18" Monzas fully refurbed as my 17" need a full refurb.

I'm keeping for now.

Offline Pudding

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Re: Chuck Money At It Or Buy Another?
« Reply #12 on: November 09, 2018, 09:31:47 AM »
I would test drive some newer GTIs and/or other cars to see if they are enough to tempt you away from your MK5, and if they are, put the respray money towards moving on instead.

Even a MK6 GTI is a very noticeable step up in build quality and they're not expensive, but the styling does nothing for me personally.  My mate's has the DynAudio pack which can be turned up full blast with zero cabin rattles.  The rattles from my standard 2 way speakers turned up is hilarious  :grin:  The MK5 is one of the worst VWs I've ever seen for build quality if I'm honest, but the way it drives makes up for it  :happy2:

As someone who is pretty grounded to one car for extended periods (Corrado 9 years, MK5 5 years) even I know when the towel throwing point has been reached.   As the others said, a respray will barely add any value and sorry to break it to you, you will need to double that £2K price to get a flawless factory looking respray.

That was a long winded way of saying, if you can live a scruffy exterior, keep it.  You can't see the outside when you're driving it  :wink:
 
« Last Edit: November 09, 2018, 09:34:14 AM by Pudding »
Black Edition 30 with manually selected cogs, a beefier clutch, some extra boost and them Whiteline thingies, otherwise standard.

Offline DaveyBoyWonder

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Re: Chuck Money At It Or Buy Another?
« Reply #13 on: November 09, 2018, 12:46:37 PM »
I think its a keeper. I've looked at some mk6s and I do personally like the looks plus they're rare - I hardly ever seen any mk6 GTIs vs mk5s and mk7s. Does everything I need of it as a daily but can jump into it on a weekend and just have a good old blast.


Offline amanda

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Re: Chuck Money At It Or Buy Another?
« Reply #14 on: November 09, 2018, 01:00:47 PM »
I think its a keeper. I've looked at some mk6s and I do personally like the looks plus they're rare - I hardly ever seen any mk6 GTIs vs mk5s and mk7s. Does everything I need of it as a daily but can jump into it on a weekend and just have a good old blast.

I have driven both mk6/mk7 gti’s (courtesy cars from dealers when mine goes in)while they are lovely to look at, I find them extremely bland and boring. I take great delight in taking them back and telling service if they get a car that is as good to look at as the mk6/7 but has the driving ability of the Mk5 .......I would be first in queue to order it. :evilgrin: