2004 Phaeton - buy or run?

[akboss]

Not many people know about VW's Phaeton, but our local dealership has a gorgeous 2004 V8 4-passenger for a good price (considering they sold for $100K). I know even Jettas and Passats can be expensive to fix, would I be asking for a nightmare by buying a $100K VW? Any advice from Phaeton owners or people who know Phaeton owners would be great.

I know it won't be cheap, but the idea of getting a car that's superior to an Audi A8 for the price of a new Ford Fusion is pretty sweet.

[Oldengineer]

Don't know much about the VW, but, I did something similar to what you're talking about. The first of the year, I picked up a 2006 British luxury car for a third of what it sold for. Things to consider:

1. Service and repairs are priced to the demographic that buys/leases these cars new. Its very expensive to get them serviced/repaired at a dealer. Getting them worked on by someone who's not an expert on them can be a disaster as well. I get around it by becoming expert enough to do my own service, and, having an extended warranty on the car to protect me from expensive problems. To give you an idea - the dealer wants $300 - $500 for the 10K interval services on my car. These cars will bite you financially big time if you don't maintain them properly - a replacement engine could easily cost you as much as you paid for the car.

2. Parts for the car you're considering are going to be hard to find and very expensive because so few of them were sold. Is VW going to have factory parts available for this model going forward. Are there any after-market parts available for it - IE. Filters, brake pads, belts, other perishable items, etc.

3. Because the car is now out of production, and, never sold well to start with, it probably will continue to depreciate badly no matter how pristine you keep it. Make sure you stay in a financial position to get rid of it without being horribly "upside down" on it. IE: Your note paydown, if you're financing it, should match/exceed the anticipated depreciation on the car. Check Edmonds, KBB, etc. to make sure you're actually getting a bargain, and, try to bargain for a reputable extended warranty as well. I would expect a decent extended warranty package for a car like this to easily run $4k +.

Hope this helps.
Oldengineer

[akboss]

That's some excellent advice right there - especially the part about becoming your own expert. Much appreciated, thanks for taking the time to post. I hope for you it was worth the investment in your British luxury car and you enjoy driving it.

[Oldengineer]

Akboss: So far so good. I've put 8K miles on her so far - including a 1600 mile vacation trip with no problems. I've been doing my own service, and, last weekend, I replaced her rear brake pads myself. With these cars - model specific forums are a blessing. Never would have figured out how to disengage the electric parking brake system without searching the forums for the procedure.

Regards:
Oldengineer
06 Jaguar S-Type 4.2 VDP