Even though you can buy a brand new one, the Volkswagen Golf R Cabriolet is at heart quite an old car. The Golf hatchback has now reached its seventh generation, but there is not yet an R version, so the Cabriolet is based on the Mk6, which was itself not much more than a reskinned version of the Mk5.Enthusiasts of Volkswagen's R models will know that this car also has an engine designed one generation earlier than the one currently used for petrol versions of the GTi.This is not a happy prelude to the revelation that the R Cabriolet is very much the most expensive Golf you can buy, with an on the road price of £38,770. That figure has been greeted with dismay by people who point out that you can have a Porsche Boxster for slightly less. It's also true to say, however, that a lower sum can buy you a van or, in less salubrious neighbourhoods, a house, neither of which would be relevant to someone who wanted a very fast droptop Golf. Both views are valid.Volkswagen also points out that the R Cabriolet is fitted as standard with leather upholstery, xenon headlights and twin-clutch semi-automatic DSG transmission, which are worth more than £4000, to say nothing of the cost of converting a hatchback bodyshell into a convertible.That said, the UK branch of the company would like the car to be cheaper, and is negotiating with Germany to make it so. There is even talk of reimbursing existing owners if this happens, though only if the price drop occurs well within a year.There is no stated limit on the number of R Cabriolets that will be sold in this country annually, but it's unlikely to reach a hundred, and I can see why.Without doubt, this is a quick car. The strengthening required to re-stiffen the bodyshell takes up space that might otherwise have been used for a rear axle, so Volkswagen has given the Cabriolet the 261bhp power output of the similarly front-wheel drive Scirocco R rather than the 266bhp of the four-wheel drive Golf R.But that's still quite a lot, and it gives the Cabriolet a smart 0-62mph time of 6.4 seconds. Top speed is limited to 155mph but would no doubt be higher if the electronics allowed it.To be honest, the engine dominates the car. Strengthening or no strengthening, the body feels slack, and both the handling and the ride quality suffer. The Cabriolet R isn't secure on corners, and it's easy to conjure up quite a bit of torque steer if you're starting to push on.None of these things is individually terrible, but their total effect is to make the R Cabriolet feel very much less than a great performance car. Instead, it's a car that will appeal to people who like the idea of a fast, good-looking, handsomely equipped, open-topped Golf with a roof that can quickly be raised (11 seconds) and lowered (9.5 seconds), and are prepared to pay a large amount of money for it.Such people must exist, but I think it's wise of Volkswagen not to bet the farm on there being very many of them.(Update: Shortly after this review was published, and somewhat sooner than we expected, the UK price of the R Cabriolet was reduced substantially to £33,170.) Engine 1984cc, 4 cylinders Power 261bhp Transmission 7-speed semi-automatic Fuel/CO2 34.4mpg / 190g/km Acceleration 0-62mph: 6.4 seconds Top speed 155mph Price Reduced to £33,170 (see text) (Most!) details correct at publication date