Opel quits the Australian market

[kabel]

SOME FURTHER THOUGHTS HERE.

http://gmauthority.com/blog/2013/08/...-opinion-desk/

[dutchy]

I was curious if there were legal ramifications in regards to trade ins

Yes, there are. As a small business I can accelerate depreciation deduction in the first year by a set value (5000). In the next year, it's going on 15% of it's book value. That is consistent with the redbook trade-in values which nearly all dealers use. The ATO will crack down on anyone who will report a much lower value in the books (for example the price for which I traded it in). A car hasn't used it useful end of life after being under 2 years in the books. I don't see this Astra being traded in for roughly 25.000 to 30.000 in 2 years time not considering what I have been offered over the weekend if I trade it in against another European brand car with a drive-away price of nearly 50.000 dollars. It's just 1 price that I got at 1 dealership but this is what they were willing to give at trade-in "considering the Opel situation and they would unlikely be able to sell the car to the public at a reasonable price... blah blah blah". Me just venting a little I guess but I hate to make a loss on money I work so hard for.

[dutchy]

You thinking of trading your car in Dutchy?
For future value, none. I would say if you you had purchased another car and traded in your Opel, the dealer would have to honour the contract. However I'm sure the dealer would try and weasel their way out, i.e. delay your the delivery of your car indefinitely.

Yes, I might trade it in if I get the value it would have gotten if Opel didn't pull out.
Value is affected, 1+1=2 that's a fact, however you look at it. Go to a dealer and trade in your VW.... they'll use any excuse in the book citing the possible problems with your particular car and how it has affected the resale value (and they are right to do so) to give you a lower price. Same with the Opel's. I have done it over the weekend and you'll be shocked about the price they offered (roughly what one and a half Cherry car costs ). I know they are bulsh#tting me on that but that's what I got. I'll be seeing what they give if I trade it in for an Audi on Wednesday, just out of interest. Don't get me wrong, I like my car and rather keep. I also go on the accountants advise about writing off the value in the books. That leaves me with a loss and lesser value of the car that I can deduct. Anyone with an Opel, just go into any dealership and ask about trade-in value atm if you buy a new car.

[eddysdaman]

dutchy,

Let me know how you go with this. I'm in the same boat. I justified the OPC because of my income, tax deductions based on my new job etc. And in 4 days I've taken a 15k+ hit?

I've 'expressed' my feelings to Opel, but like you said, they know nothing right now.

[rocky424]

I called my specific dealer in Sydney. Since they have 1 service centre for 3 car brands (reduced to 2 now - Opel), they will continue to exist and be able to fulfill their service obligations for my car. However, for warranty works, I would need to go to "any" GM/Holden dealership. I will still await my formal letter, and go from there to be able to nut out all details and concerns.

I did quiz them about trade-in... obviously that would be affected and is likely beyond their control. Even if I'd like to trade-in at the moment for a reasonable price, there is no direct replacement for the car that I have (sports tourer) with the brands the dealership hold. I got this car for the reason that it strikes the balance for me on being a car enthusiast and a family man without breaking the bank. This is the only car I have, and I plan to take good care of it and keep it for sometime. That will be the best case I have for selling it at a reasonable price to a person that understands the worth of the car for what it is down the line, hopefully an opelaus member.

Let's keep each other updated on what info you get from opel australia and the dealerships.

[dutchy]

dutchy,

Let me know how you go with this. I'm in the same boat. I justified the OPC because of my income, tax deductions based on my new job etc. And in 4 days I've taken a 15k+ hit?

I've 'expressed' my feelings to Opel, but like you said, they know nothing right now.

As you've bought it privately, you won't have an ATO issue UNLESS you bought it on a monetary loan basis privately (look at it as a person that bought a house against a mortgage and a month later it seems the house is valued much less than the value you got your mortgage on). Now obviously I can't go into detail about my personal tax situation and everyone's is different but it is creating some hassles.

[SIMid]

The only way to save all this is for an independant operator to step in to continue with the brand as most sites are setup now. Highly unlikely from Holden as they want to continue selling their Korean cars.

Such a shame, had so much potential.

We will be keeping our Astra for the next 5-8 years anyway. Mrs don't like to roll cars over. Plus she loves her Astra! I don't mind it as well, kind of grown on me.

[ScottSri]

http://www.totalvauxhall.co.uk/2012/...xr-supersport/
Mhhh woulda been nice to have seen this insignia opc

[kabel]

http://www.totalvauxhall.co.uk/2012/...xr-supersport/
Mhhh woulda been nice to have seen this insignia opc

Think it is the same as we have here with the limiter raised to achieve the extra speed.
Someone will know for sure though.

[ScottSri]

Think it is the same as we have here with the limiter raised to achieve the extra speed.
Someone will know for sure though.

Nar the 0-60 on that "new one" is 5.6 secsonds the other one was slower than that with 6.3. Might just be a new tune but the model should be up dated because the select came out in 2008 in Europe