What Will Happen to Volkswagen Car Prices in the Near Future?
Anyone who’s planning or driving a car certainly knows that this asset depreciates in value over time. In other words, whether it’s used or not, its potential price in the market should the owner decides to sell it will be far lower than what it cost when it was bought. Cars lose their value very fast that experts suggest driving and keeping them for five years tops. The depreciation also begins as soon as it’s driven.
But do you know that there are certain vehicles whose values tend to go up instead of down? We are talking about vintage cars and, if possible, rare ones at that. Take, for example, the 1957 Ferrari Testa Rossa. When it went into production, only 22 units were sold. Thus, when it went to auction in 2009, it fetched a price of a staggering $12.1 million. But the story doesn’t end there. Two years after, when another same car was up for bidding, the vintage car aficionado paid more than $14 million!
If you want to make the most out of your car purchase, then you might as well invest in one whose value can potentially increase in the future. One of these is called Volkswagen.
Volkswagen can be just like any other vehicle that can break down and need maintenance, but it also has a good reputation of being tough and durable. According to Mojo Motors, which analyzed more than 250,000 vehicles, many owners are still using the fourth-generation Passat, which was sold between 1997 and 2004.
Certain Volkswagen models, though, don’t only last longer. They can also be worth thousands when sold today. As an example, let’s talk about Volkswagen Corrado, whose production ended in 1995. Based on Kelley’s Blue Book, the dealer’s price would probably be around $3,000. Yet if you’re going to check the same unit in eBay, it can actually be sold for as much as $10,000!
Another classic and rare Volkswagen car that could fetch a good price later is the Samba, which is considered as one of the most luxurious Transporter vans and has made a mark in history by being called the hippie bus. Today the same car is available in the market for at least 119,000 euros. Meanwhile, in a 2015 auction, an Australian family paid $200,000 for the same vehicle.
What do all these mean to you? These prices can indicate that a Volkswagen vehicle’s price does have a huge chance of being worth a lot, making it a good investment today. But before you went on to try to buy a classic Volkswagen, know that the brand is currently embroiled in a controversy. Called a diesel scandal, the car company has admitted that it’s using software to reduce carbon emissions when tested. However, once it’s driven, the software is turned off, and the actual carbon emitted is more than the legal limit. These types of stories can also hurt pricing too especially if many people are interested not only to buy but also ride it.