Decision time ....... old car or brand new Golf R ?

[DavGTI]

Great way of setting it out.

A few extra things to factor into the Mk5 option, though, during that period:-
- Cambelt and waterpump c £600 (every 4 years?)
- Camchain - full kit fitted, if necessary - circa £1000 all in
- Cam follower  - not sure on cost , prob £400 - £500

Some of these items appear disproportionately expensive, relative to the purchase price of the car, but you probably just accept on a higher value / newer car

Cam follower is less than £40 from VW and a garage would probably be an hour labour to fit or 30 mins if your handy with the spanners. Maybe slightly longer if banjo bolt type.

Cam chain would be around the £600 mark from a garage without the VVT adjuster which unless you drill the bolt out for rounding issues wouldn't need to be changed

I was assuming he meant the price of parts that would be needed if the cam follower had worn straight through

[Lewo]

Whatever you decide it's up to you, no right or wrong, different circumstances etc. Here's my interpretation of personal finance on cars, you should know this before deciding.

Using VW.co.uk website, their R7.5 offer will cost you over three years:
Deposit: £5,158
36 payments of £421: £14,735
Insurance at £500 a yr: £1,500
Total cost: £21,393

Value of asset at end of 36 months: £0 as you give the car back (or pay £14,465 to keep it).

Buying a used mk5 gti, cost over 3 yrs.
Cost £5,000 (can put on a 0% credit card and pay monthly - no need to give bankers even more money)
Service £250 x3: £750
MOT £55 x3: £165
Insurance at £400 x3 £1,200
Two new tyres: £160
Misc, brakes etc: £400
Depreciation: £1,000
Value of asset (if you sold it after 3 yrs): £4,000
Total cost: £3,675

If I'm correct then the difference in cost over three years is £17,718! That could be enough money to take a year off work, or retire a couple of years earlier. Or spend on 3 yrs driving an R 

Your choice, all I'm saying is have a look at your finances before you decided.

Interesting to see a breakdown comparison of costs but as others have said, I think the costs for servicing and repairs would be a lot more than you've suggested and the resale figure would be lower I'd say.
But...it still shows the big different in overall costs in both and I'd go for buying a second hand one too.
 

[Tinytim]

Really interesting thread. I'm going through a similar dilemma at the moment.

Bought a Edition 30 18 months ago and still love it but I keep thinking of getting something newer.
Mk6 R, ED35 or even a MK7 R.

My Edition 30 has lost next to nothing in depreciation. I've had 2 oil changes, DSG service and cam belt which has cost me about £600. (Did the oil service myself)

The problem for me is MK6 R and ED35 are very pricey compared to my ED30 and for me aren't worth that much extra. Been looking at a MK6 R which is 3.5 years newer and half the mileage but it's going to cost me the best part of 10k to upgrade.

To me a MK6R isn't 10k better than my current car. Mines stage 1 so it will be no quicker. I'd be paying 10K for 4wd and a slightly newer, lower mileage vehicle that's on the same chassis. Most of the tech is the same to. I'd still be in a 6 year old car going for the 2012 R so hardly a spring chicken. Shocked at high pricey MK6 R's are.

I'd probably be better going for a MK7 as they are close to the price of MK6 R's, are much newer and lots of choice on low mileage examples.

But I'm probably going to end up sticking with the ED30 as for the money it's brilliant and even a 7R isn't going to be massively different (I've drove one)

I own my ED30 outright. It's plenty fast enough at 300bhp and still puts a smile on my face.
It's well specced with all factory options except Xenons. It's going to depreciate very slowly.

This is down to personal taste but I really love the MK5 interior to, so I'm really struggling to justify any significant outlay for a slightly better car.

If you can afford a new MK7 R easily and like having the latest model then go for a 7R but if you can live without the latest model I'd seriously look for a good MK5 ED30 or Pirelli and put the rest of the money in the bank or in property.

[Stevemartin911]

OK thanks guys for all your input, varied comments from one extreme to the other, I have found a very good deal on a Cupra 300 as was posted earlier and is a bit of a no brainier if I want to take the new route. Golf R or GTI about  £8500 over two years incl £2700 deposit. Cupra deposit £269 + 23 at £269 = £6400 its front wheel drive so about 200kg lighter than an R and apparently a lot more nimble, it also has dsg box as a no cost option !
I have a lovely GTI over here which has been cosseted all it's life and has only 40k miles on the clock, lived in a garage in a great climate, I have been spoilt and to find its equivalent in the UK as a ed30 Pirelli GTI or R32 would be a min of £9k on a 10 year old car ?
At 65 I'm getting into my twilight years, have enough money and have lived with old cars on the principles you have very corrected pointed out for the last ten years  but the new car is going to win out and I can pose about as an old git in a fast car ! After two years I might well be back, all the best guys !

[Bodyboarder81]

Sounds like a ok deal and in your position I can see why you’d go for it 

My issue is really with the younger generation wanting new everything and not willing to save for it .... too easy to tick up anything nowadays.