The VW Golf GTI may be listed for sale at R733,200, but more than the money, you need the luck to buy it at this price.
An avid GTI owner recently contacted TopAuto to enquire on where he can find an eighth-generation model for this figure as each and every dealership he has gone to has told him that they don’t have any in stock, and low-mileage “pre-owned” models are listed for much higher.
After a short search online, we found there was merit to his claim.
The most affordable 2022 GTI we found on AutoTrader had 12,000km on the clock and was listed at R759,900 – around 4% above sticker – whereas the most expensive “used” model was one that had done only 100km for a price of R949,995 – 30% more than when new.
On a finance plan, buying this ridiculously-expensive “pre-owned” example could add over R4,000 to your monthly payment when compared to buying one brand new from VW itself.
Stock issues
Once again, the reason for these price premiums on “pre-owned” Golf GTIs comes down to supply and demand.
“Due to global supply constraints on components as well as interruptions in supply chain at various ports in Europe, we have not received a regular supply of Golf GTI,” VW South Africa told TopAuto.
This means for now, the manufacturer can’t keep up with the local appetite for its iconic hot hatch, unintentionally making way for resellers to take advantage of the situation.
In certain cases, early owners had their fun in the Golf and are now attempting to capitalize on its unexpected rarity by selling it for a higher price shortly after taking ownership before stock levels return to normal and they are not as valuable anymore.
In others, dealership owners with the capital to spend and time to wait secured GTI units early on, fully decked out with optional equipment, and almost immediately after getting it put the vehicle on their showroom floor at a substantial premium.
This series of unfortunate events have left enthusiasts who took the wait-and-see approach with two choices.
The first of these is to get in the back of the GTI waitlist at their local dealership and stick it out, the second is to pay between 4-30% more than they want for a car they can not customise to their own liking.
The good news
VW said it expects production quantities of the Golf GTI to improve in the second quarter of 2023, after which pre-owned prices are anticipated to start coming down again.
For the time being, if you want to buy a GTI at its retail of R733,200, or even a new GTI Jacara Edition for a lower R716,500, VW recommends you only visit registered dealerships that are able to “offer a fair deal and provide customers with an excellent buying and servicing experience” to put your name on the waitlist.
There may not be one in stock at that point in time, but you won’t have to pay a hefty premium or do business with a shady dealer that wants to take advantage of your hard-earned money.
It may be a while before your hatch is delivered, as VW said “some of the cars arriving in South Africa now were ordered as far back as November 2021.”
Nevertheless, you won’t be spending more than you bargained for, and when prices start stabilising in the not-so-distant future, you can look at yourself in the mirror of your GTI with the knowledge that you’re paying thousands less every month than the guy next to you who just couldn’t wait.
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