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VW trade/upgrade advice wanted

J

jdkick

Senior member
Just looking for opinions...

I've been offered the following deal: my current car (2001 Jetta GLS 2.0L 5-speed with 165000km) + $4000CDN (I would pay this cash) for a 2003 Golf GTI VR6 6-speed with 120000km.

For those that are not familiar with VWs, my GLS is fairly tame with 2.0L 4-cylinder @ 115hp, velour/cloth interior and a few creature comforts like heated seats, sunroof, etc. Moving to the GTI would mean a 200hp 24V 2.8L V6, short-throw shifter, sport suspension/exhaust, full leather interior, stability control/anti-slip regulation, steering wheel audio/cruise controls, etc. Basically, quite a few "upgrades". So, in this regard, i'm *very* tempted to make the move.

The catch is that I still owe ~$5000CDN on the for my Jetta. I plan to pay this off over the next 12 months (maybe faster) and was thinking of moving to a new-to-me hatch in the spring anyway.

Thoughts? The offer is good but is it sane financially? The way I see it, i'm only out the interest for as long as it takes to pay out my current loan. If I end up paying it faster, the interest is minimized.

Thanks.
 
I'd take that 4000CDN and pay down your Jetta. With all the money you will be saving...put it in the bank toward a large down payment on a new or newer GTI in the spring. The newer GTI has a plum of an engine and I really like the packaging better.
 
horrible deal. if you were debt free on your car, and were to sell it privately, how much could you fetch for it?
 
Edit: I could probably get up to $7000 for my Jetta. And i'm definitely open to being schooled re: personal loans, etc. 🙂

Thanks for the replies. I should also note that the timing belt/water pump/tensioner are due for my Jetta very soon ($600) and my gut it telling me that the clutch will need to be done some time next year. Maintenance on the GTI appears to be up to date and the brakes were done all around when it came into the dealer (a private and reputable import shop that I know personally... I bought my Jetta from them). Of course there are no guarantees it won't blow up six months down the road. 😉

chris: Can you elaborate? Most comparable used GTIs i've seen are listed at $12000-$13000 ($15000-$16000 with < 100000kms).

ric: I wasn't necessarily looking at a MkIV GTI for my next car either, it just so happened that this offer came my way. Of course I fully appreciate the GTI, which is why i'm tempted. 🙂

Pete: Unless i'm missing something, interest on the remaining $5000 would only be ~$200 (according to online amortization calculators) if paid off over the next twelve months. As for the MkV GTI... I fully appreciate the design and the 2.0T, but to pick one up used next year i'd be looking at ~$20000CDN for a 2006. That would put me back into a loan for at least $12000 vs being payment free by this time next year and driving the MkIV GTI for another two years.

On another note, if you take the GTI out of the picture, my original plan was to expedite payment of my loan, drive the Jetta for a few months payment free to bank some $$$ then look at selling it some time in 2009 for a either MkV Rabbit or Mazda 3 hatch. Of course doing that would put me back into a loan for ~$10000.
 
On another note, if you take the GTI out of the picture, my original plan was to expedite payment of my loan, drive the Jetta for a few months payment free to bank some $$$ then look at selling it some time in 2009 for a either MkV Rabbit or Mazda 3 hatch. Of course doing that would put me back into a loan for ~$10000.
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go with this plan. I drive a VR6, and take it from me, in this day of high gas prices, VR6 isnt really worth it. The best plan is to just pay off your car and keep it as long as you can. Not having a monthly car payment is the best deal IMO
 
If I boil it down to:

1. Pay out the loan and keep the Jetta = $4200 in my pocket. But, I will be looking to sell the Jetta in 2009 for a used hatch back anyway and would probably need a small loan to cover the difference after selling the Jetta.

2. Go for the GTI and pay off the loan over the next twelve months = $4200 out of my pocket. But, I won't need another loan in 2009 for a new (to me) hatch back. Plus, given the mileage on the GTI I would plan on driving it for at least an additional two years with no payments on any loans.

... to me, there seems to be some merit in going with the GTI now. It feels like a pay now (for the GTI) or pay later (for a newer hatch in 2009) scenario in my mind - please correct me if i'm wrong or if i'm missing where I lose big $$$ along the way. Granted, it would be entirely different if I were keeping the Jetta indefinitely, but I don't plan to.

Thanks again for entertaining my thoughts on this guys. It's appreciated.
 
Originally posted by: jdkick
If I boil it down to:

1. Pay out the loan and keep the Jetta = $4200 in my pocket. But, I will be looking to sell the Jetta in 2009 for a used hatch back anyway and would probably need a small loan to cover the difference after selling the Jetta.

2. Go for the GTI and pay off the loan over the next twelve months = $4200 out of my pocket. But, I won't need another loan in 2009 for a new (to me) hatch back. Plus, given the mileage on the GTI I would plan on driving it for at least an additional two years with no payments on any loans.

... to me, there seems to be some merit in going with the GTI now. It feels like a pay now (for the GTI) or pay later (for a newer hatch in 2009) scenario in my mind - please correct me if i'm wrong or if i'm missing where I lose big $$$ along the way. Granted, it would be entirely different if I were keeping the Jetta indefinitely, but I don't plan to.

Thanks again for entertaining my thoughts on this guys. It's appreciated.
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You're paying $4200 for a GTI that's 2 years newer than your current vehicle. Now maybe if you were going from an 06 to an 08 and looking at two different cars I'd be a little more understanding in your rationale.

Pay off your car and get into something NEWER and more reliable. I love VWs but I wouldn't buy one more than 5 years old.
 
So I did some more thinking/reading... as noted above, my initial plan was to pay off the Jetta and move to a hatch (Mazda 3 or a VW Rabbit) in 2009. I checked out Auto Trader last night and noted several 2006 Mazda's suitably optioned for < $15000. So, i'm starting to reconsider the appeal of the GTI.
 
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