Values-selling-future classic......???

[C5 OEM 0]

With the `economic down turn` being the phrase of the moment how do people feel about investing more money into their corrado...?

 

Prices for all cars are low and potential third cars/hobby car`s are being hit even more so.

 

Selling is not really an option for most unless taking a massive loss.

 

I`m at the point on deciding if to put more money into mine for work that does need doing but also other parts to bring the whole condition up a notch..

[VW_OwneR_85 2]

i think it all boils down to weather or not your happy putting money in to it and not about getting your money back from selling it, lets face it most of us will never get our money back unless we were given the cars for nothing.

im allways thinking about how much i can spend on my car before i go past the point were i cant get my money back,

i went past that point months ago so selling it now isnt an option as idd be looseing out, right now im sorting the rust scabs out at the cost of my time and materials, so hopefully that will add abit of value and might get my money back from the parts iv replaced along the way, it certainley wont cover the cost of the milltek system and suspension so if im going to ever sell up idd swap those out for standard before i sell

[stevef182 0]

The view I have always taken, is that for me, I do what I do with my corrado becasue i enjoy it. Its a hobby, and its fun but I doubt i'll ever see a return on what I've spent (which isnt a fortune).

 

Every now and again I have the odd moment of doubt about spending yet more cash, but as long as that money is 'spare', so much so that spending it doesnt effect you or your families ability to live and eat, pay bills, etc etc then its simply what you choose to spend your hard earned cash on..and if its what you love then I think its fully justified.

[Tempest 0]

Not an issue for me (at the moment at least), i.e. at the moment I can still afford to invest play-money into my Rado. Not interested in whether I would ever see that money back, as previous posters have already said, it's a hobby. If I can't afford it any more than that's that.

 

I would, however, hazard a guess, that people who are affected by the current job climate will not really be that keen on posting their views here for several reasons, they'll be busy job-hunting, and posting up here that thanks to the economic downturn they cannot necessarily afford all the play-money for their Rados is a bit like saying "I am now unemployed!", which no-one really wants to do, I suspect ;)

 

Tough times.

 

Tempest

[C5 OEM 0]

I agree with the hobby aspect and tbh the amount you can loose on newer cars is never measured in the same way. Think i`ve gone past the point of justifying it now but with the last few corrados seemingly selling for low money it does cross my mind again ..!!??

 

I suppose the way to look at is never consider its value and just enjoy the ride..

[Portent 0]

I don't expect to get my money back on the car. I'll probably get the same price I paid for it, or similar (probably lower in the current market). But I won't get back the money I've spent on improving it (various trim, tidying it up, the seats, new alarm, etc). But I didn't buy it to make a profit. I bought it because I wanted one and while I don't have a lot of money to throw away it was a little indulgeance. I'll carry on doing little bits and pieces but given the economy and the cars value I'll probably not plan any large expense on it just yet. I'm not sure what I'd do if it suddenly threw me a very large bill.

 

Case in point - I currently can't drive and am off work due to a minor operation. But it gives me pleasure knowing that I'll be able to get into it in a week or two, open the roof and windows, put some music on, and just go for a drive for the fun of it. I wouldn't get that with other cars in this price range. Having had a bit of a health scare it reminds you that life's too short to always think about finances; sometimes it's just fun to enjoy something and not worry whether it's the best financial decision.

 

For me it's about keeping the car in at least as good condition as it is now. Don't let it deteriorate but equally there's no real need right now to spend a lot more on it.

 

But I can't imagine what more you need to do to yours? It's fantastic condition, you've done a lot on it already, and recently aquired your ideal interior. Unless you're thinking about engine mods of course.

[wy906 0]

I don't expect to get my money back on the car......... But I didn't buy it to make a profit. I bought it because I wanted one and while I don't have a lot of money to throw away it was a little indulgence.

 

+1

 

It’s disposable! Cars are my hobby and if I didn’t have a Corrado I would have spent it on other cars anyway.

[Wullie 1]

Mine is a daily and has been for the last 12 years. I tend not too look on it as a hobby or a project or whatever but maintain it in good running order as best I can given my current financial restrictions. Body work could do with a bit of work and I hope to get into that next year as I retire in in 72 days (not that I'm counting), and should have more time available.

 

I think it has more than paid for itself and if I ever decide not to drive it I will probably give it away to someone who I know will look after it as I did with the Scirocco Scala that preceded it. I'm not a great one for adding up costs but the highest bill I've had for an MOT was just over £200. As I do 95% of the work myself repair costs are minimised.

 

Balance that against the cost of purchasing another car, possibly incurring monthly repayments and the high cost of repairs and parts for more modern cars with all the electronics that go with them now. Now I come to think of it, looked at in that way the Corrado is actually a pretty cheap option.

[4eyes2wheels 0]

I went from a 10 year old 1.6 Golf to my Corrado.

 

The Golf was perfect for what I needed - it had depreciated to being worth about £2.5k and wasn't going to drop very fast, it had been in the family from new, regular VAG servicing, economical etc etc but it wasn't what I wanted. I wanted something a bit more exciting and a bit different.

 

The C was just that and cost a little bit more than I got for the Golf, taken out of my monthly cashflow, a couple of months not buying general rubbish or going on the lash and it was paid for. If I had bought a 55 plate Golf GTI or R32, Audi S3 etc etc I would have taken out a bank loan and been paying a few hundred per month for 3 years. At the end of which I'd have ""lost" half the value of the car and ended up closer to the value of the corrado. Of course I have probably spent the same money on the upgrade / maintenance I have done on the Corrado and probably maintained it's value accordingly.

 

As long as I can keep it for a couple more years without POURING too much more into it I will be "ahead of the game" compared to the alternative.

 

I'd love to get it resprayed but I know that would be money I'd never see again. I can deal with spending £500 once a quarter for something like a new exhaust etc and nothing else for a month or two but I think my wallet would clam up at the cost of a decent respray.

[Dazza Storm 10]

Let's face it the longer you hold on to it the more it will be worth as they are getting rarer, so you could say that you are actually going to gain from keeping it in the long run. You could buy a brand new car and lose hundreds on it month on month while paying out hundreds month on month for the pleasure. I know you get reliability but it's a machine so can go wrong at any time. I know where my logic lies on this one!

[tony_ack 0]

Cars are poor investments unless you pick exactly the right model before you know whether it is going to be a classic or not. You will never see a return for all the money you pour into your Corrado unless you buy an ultra low miler, lock it in a garage and then don't use it for 10 years. Even then a better way to make money would be to hire out the garage (can an appreciating Corrado match £50 per month in rent??)

 

So as far as 'investing' money into the Corrado goes, I don't see it that way. I pay what I need to to get the car the way I want it. I don't expect to get the money back again.

[Jim 2]

I'm past caring about costs. For me it's one interest / hobby that's been a constant for 12 or so years. I'm putting money into it for me, not for any future values or anything..

[robrado974 1]

Me too. Its my only hobby . You spend dough on cars because its yours and you want it to run right , look right . I paid out for a full respray last year ,will never get that money back if i wanted to sell , could not give a monkeys .

[DIGGER B 0]

This ^^^^

[8vMatt 1]

People get too caught up in this future classic business. Just use and enjoy them for the here and now. Its not like we own Lancia Intergrale's (is that the right spelling?) is it. Look at the classic status for those.

 

..........but we are seeing more good quality Corrados for sale with healthy asking prices.

[Pete 0]

Can't say I bought mine for classic reasons. I've bought cars costing 10 times what I paid for my VR, but it's my "Goldilocks" car and little else floats my boat in the same way.

 

I think the spend to keep them tidy is no more than the money that you would lose on say a mk5/6 golf gti or R32 or a new scirocco in depreciation, in fact probably less, and I can see a result for my spend rather than having a car just losing hundreds every week sitting in the garage...

[Wullie 1]

Well, perhaps this evening events will answer some of the questions posed in this thread. I have just been dropped off by a taxi driver who offered me £1200 for my car. It's worth nowhere near that. I turned him down.

[coullstar 0]

People get too caught up in this future classic business. Just use and enjoy them for the here and now. Its not like we own Lancia Intergrale's (is that the right spelling?) is it. Look at the classic status for those.

 

..........but we are seeing more good quality Corrados for sale with healthy asking prices.

 

Agree, its not an iconic car to anyone but us owners hence why we do keep spending money on them. I bet every other owner of a "older" car thinks along the same lines. Wish Id bought an Integrale a good few years back, almost bought one which would be about 50% higher now. I spend too much on cars and bikes but it is a hobby and something I enjoy. I have a nice newer car that I equally love buts its just not the same. Im a serial tinkerer but keep having to wind myself in with the new C as I think only near standard examples are what people will be looking for now. You wont get your money back on a C but keep it in good condition it will help when you come to sell.

[Jim Bowen 1]

I wonder if some of the people with the extremely mint condition low mileage examples actually enjoy them properly or just like getting there bum licked.

 

Just enjoy your car, You could be getting the same experience from a £2k corrado as a £6k.

 

I love to see a stunning low miles hardly used corrado but wouldn't want to own one and i think thats the same for most people.

 

Just ask yourself what do YOU want from a car.

[Kevin Bacon 5]

I half agree on the future classic thing. That phrase is certainly a bit cliched now but what the Corrado does have on it's side for the whole Classic car points scoring system is it's uniqueness and rarity. There is no MK1 - MK6 Corrado. It's one of a kind never to be repeated and for that VW, we thank you.

 

When the recession is over, I reckon they'll be in demand again. Well, the good ones at least. Cars like the OP's and the Kips and Judiths of this world will no doubt get offers left under their windscreen wipers :D

 

My Corrado has been a long suffering vicitim of my insessant fiddling and is more of a rolling project than a future investment but the car clearly brings out my creative side. I certainly couldn't imagine spending so much time and money on say, a MK3 Golf!!!

 

And I think that is the whole point of loving cars and classics. Cars which inspire you to WANT to do things to them. A car that is merely transport and one you never look back at is most definitely not a classic in any shape or form.

Edited October 14, 2011 by Kevin Bacon

[stevef182 0]

Having said all of the above (with which I agree, as per my post) there have been 2 corrados that I know of sold recently for over £7,000. Granted they are very nice examples but none the less its still a lot of money and quite nice to see them fetching decent money.

 

http://pistonheads.com/sales/2969128.htm

 

http://pistonheads.com/sales/3155031.htm

[Kevin Bacon 5]

£7.5K for a 151K old Storm, or £5K for 119K old Storm of the same spec, or near as dammit - http://the-corrado.net/classifieds.php?do=viewitem&itemid=1008

 

The latter is far more realistically priced.

 

Some people just have delusions of grandeur about what it is they are selling.

[JJS 0]

Thanks FishWick,

I've certainly enjoyed my Corrado and most likley will return to one in the future once i've tried (and probably failed) to enjoy anything else. It's the best car i've ever had by far, they're solid, stylish and German engineering at its best. The rear active spoiler still makes me smile, do we really need it or is it just there for us to watch in the rear view mirror as it pops up? I'd love to have been a fly on the wall of those Corrado thinktank meetings all those years ago. What always amazes me on virtually a weekly basis someone comes up to you and says great car mate, i always wanted one of those, or my mate had one of those when they first came out. That said its everything i'd ever wanted in a car so i'm asking myself daily at the moment why am i selling? Shameless link again to my advert below.

I just want to try something else now before my kids grow up and i have to share a Corsa or Fiesta!

 

http://the-corrado.net/classifieds.php?do=viewitem&itemid=1008

 

PS - One other great thing about Corrado ownership is the support you have here on the forum from some great guys all appreciating the same thing.

[Kevin Bacon 5]

No worries. I hope you find the right buyer soon, that car deserves to go to a good home! :D

 

You're right about this forum and the community. I frequent plenty of other car forums and none of them are anywhere near as friendly and helpful as this place. So that's another benefit of Corrado ownership :D They never really fly the nest either unless written off. They tend to stick within the family as it where. I first saw this car and it's then owner 7 years ago, and it's still on the forum!! Ditto with other forum members who've handed their keys to someone new!

[C5 OEM 0]

Glad to see such a positive response to ownership and agree with everything that has been said, as far as how much money to sink into the corrado i suppose it depends on the final finish you want..In my thinking its actually better to think of the resale value as nothing as it means its all about the fun and the banter/info on here rather than constantly adding up how much you have spent and estimating the value..