WBAC Values

[Gibbo]

Hi there

Seen a lot of talk of this in various groups and thought I'd share, if anyone is thinking of selling a car they are worthwhile checking out at the moment as they seem to be offering much higher values compared to normal.

In fact used cars in general seem to have shot up considerably again this month.

I put my S2000 into WBAC just because curious, they came back with £17,000, not bad considering it cost me 14k just over a year ago directly from a Honda dealership.

They even value the Ferrari at just shy of 130k which is very strong considering they never have any understanding of options.

I was also looking at 991.2 GT3 manuals just over a month ago, 125k would have landed me in one easily, most are pushing north are 150k now.

No idea whats happening but if anyone has been considering selling a car recently they are worth checking along with other sites such as Motorway, collecting cars etc.

 

[Gibbo]

Yeah if the used values keep moving the point where the Ferrari gets too a point where I get what I paid or make a profit I will probably move it on, sit on the cash and just wait for the market to drop again and either get another 458 or a GT3 RS maybe. Until then I will just keep driving it as adding the miles on it is not doing it any harm.

 

[Gibbo]

I just looked as I have been wanting to offload my car for something more practical, Approx. 4 weeks ago was £17.5k now is £19.7k only an Audi TT.

Its a good feeling, people I speak to are reckoning used values will keep creeping up for rest of this year and maybe next potentially due to the shortages on new cars at the moment due to lack of materials.

 

[Gibbo]

Also remember the price they offer gets raped when you take it down to them, when I was looking to offload my Focus they offered £6.5k which was the minimum I was willing to take but upon an inspection by the 'specialist' it appeared all 4 alloys needed a full refurb despite them being in good condition and only having brake dust on them and also the boot, back drivers side and front passenger side being repaired to a really poor standard despite me buying it at 6 months old and it not seeing a spray booth during my ownership, they offered me £5k, told him I'd rather let it sit and rust away than let them have it.

Took it into BMW and they gave me £6.5 straight away and said when they looked at it there wasn't a single thing they could mark it down on. Also the £5k from WBAC would've dropped a bit more due to their 'fee' they take from your final offer.

Only ever sold a car to them once before, which had quite a few marks to the paint, scratches and worn out tyres. They never spotted the tyres, knocked like £80 off for scratches so all in all I took them an average car and the price I got was within £100 of their offer which was around £6000 at the time.

Guess its hit and miss, but there are plenty of companies buying used cars now, auction sites, raffle companies, car dealers and of course end users so if anything its become quite easy to sell a use car as the market for them in recent months has grown a lot with emergence of raffle companies and new car shortages.

 

[Gibbo]

Can just imagine this with a Ferrari @ £130k, the slightest imperfection will see them knocking thousands off no doubt.

Their headline prices are often reasonable at face value, because they need to be competitive enough to get you in the front door. The hope is once you're there, they can convince you to sell at a lower price once they've done their tyre-kicking. And like most dealers, once you get on site and they've done the inspection they will low-ball where they can to begin with, I've only been there once and the guy magically pulled an extra £150 out of his arse (on a vehicle valued just over £5k) when I said I wouldn't take their revised offer as it was lower than we'd already been offered p/x. This just goes to show that no matter what logic they use to explain the deductions, there is still a bit of fat in there as you'd expect that can be trimmed and still be profitable for them.

I'd never sell the Ferrari to such a company, but in honesty my car is pretty flawless. Was just shocked to see how much they would offer as normally WBAC are pretty useless on cars where options can make a big difference to the used resale value, for example 458/488's with bucket seats, carbon interior trim, LED steering wheel, forged alloys tend to command 15-20k premium over say one with comfort seats, cast wheels and standard interior etc in the used market.

I paid 152k for it over two years ago, added over 10,000 miles since and will keep using it but if in the near future there is an opportunity to sell it on a high and get out of it without losing a penny, maybe even making some money at same time I shall probably do so and then wait for market to settle, but that is the question will the market now ever settle for what is considered the great petrol cards, lots of examples of used car prices going mental on stuff like GT3's, 458's, S2000, R34 GTR's and more etc. They might just keep going up or the values might crash, the fact R34 GTR's seem to be potentially fetching 150-250k now is totally bonkers, I could have purchased one ten years ago for under 25k for a proper UK Vspec bayside blue.

 

[Gibbo]

Just checked a few dealerships approved list for brands like Porsche, Ferrari and Lamborghini and well some used showrooms must be pretty empty, I was shocked to see Dick Lovett Ferrari only have around 15-20 used cars in total (they normally have 50+) and absolutely no 360's, 430's or 458's in stock at all, apart from LHD and special versions. So delays on getting a new car and now used cars are reducing in numbers fast.

If this keeps up which it probably will for a few months, hold onto your cars until end of Summer or the year and if the values rocket and your in a position to sell well could be a good idea and then invest the money or bank it and just buy again when the market softens or has a dip when the flood of new cars arrive and thus see the used market stock increase again.

Same old, supply and demand......................

 

[Gibbo]

Me and the Mrs were in the 458 yesterday and the looks on peoples faces, the excitement from kids, the car just makes people really happy and kids huge excitement.
We then said when they grow up, they will most likely be buying some electric car, even more cameras about and even stricter road rules and we thought to ourselves we have really grown up in one of the best times, to have the posters on the wall as a kid, the dream and then to make the dream a reality.

Now a kid looking at a Ferrari, Lamborghini or other similar car with a screaming V8, V10 or V12 well those kind of cars in 20 years time won't exist and the used ones that do will be crazy money and more difficult to source and buy than they are now.

Maybe the younger generation will love their electric supercars who knows, but for me they give no excitement, just a glorified milk float.

 

[Gibbo]

Peoples thoughts on whether prices will continue to hold/grow?

short term they will go up further considering new cars are still short and big delays and used market demand increasing due to latter and now Summer is coming.

Might see a dip in a year or so but can see any dip being short lived as soon the current petrol cars will be a rarity when 2025 onwards the majority of new cars will be electric and think it’s fair to say the enthusiast will be hunting for the fun cars and noisy cars which will create a used car shortage and force prices up. That will only change if governments force people to go electric by stopping the sale of petrol or making it a crazy price like £5 a litre or something.

 

[Gibbo]

looking at some of the cars coming through the system they must be offering some good prices.
Like 6 month old Aston Martins, had a couple of GTRs recently. 2020 model cars with 3-400 miles on them.

Ferrari last week 128, this week 117k
S2000 last week was 16k, this week 17k
Aston last week was 29k, this week 30k
M5 last week was £10,500, this week £10,805

The Corvette they don't recognise and the Yaris not even bothered trying might now do so out of curiosity.

Checking what cars are advertised at, similar age/miles/spec Ferrari 135-155k, S2000 18-25k, Aston 40-45k, M5 12-16k. As a percentage they are miles out on the Aston.

 

[Gibbo]

25th May - £40,820
Today - £41,555

Interesting!

Curiosity got the better of me, WBAC value for the GR Yaris is £32,555 with 1600 miles on it. Paid £33,500 for it brand new March 1st.

 

[Gibbo]

 

[Gibbo]

You'd get much more for it privately atm though??

Privately they are fetching 34-37k it seems, I think a delivery miles car was flipped for around 38-39k, no intentions of selling it anyway, it lives up to the hype and I really enjoy it though now the sun is out admittedly I've moved to driving the S2K, Vette and 458.

 

[Gibbo]

Had a 19 plate Mustang Bullitt in today with just 10,000 on the clock. Wonder how much they paid for that?

Out of curiosity I just put my old Mustang in which I paid £33,000 for brand when they first came out in 2015 and based on 30k miles it was £28,400 and based on 20k miles it was £29.5k

About £500 a year depreciation you really can’t beat that at all.

 

[Gibbo]

And sold. Easiest car sale ever. Got paid the full amount minus £75 transaction fee.

Happy days, good result!

 

[Gibbo]

Good man yeah be interesting to see what you actually get

He got full amount, he posted the result above.

 

[Gibbo]

It would be ease of selling plus they may have got not much less. A lot less hassle as well. Go along and money in your account that day.

They are offering close to £33,000 for mine with 1700 miles on the clock, so if it was a low miler maybe WBAC gave them more, but yes privately they seem to swapping hands around 34-37k dependent on miles.

Rumour is once the Corolla goes into production, that is the end of the GR Yaris for our market. If true the values could jump even higher if Toyota stick with the 25,000 world production figure.

 

[Gibbo]

This exact V10+ has gone up £10k since March. God damn.
https://www.autotrader.co.uk/car-details/202106033438147

One just like this was parked in Asda car park, me and the Mrs were admiring it saying how amazing it looked and that in many ways its as good looking, as good sounding if not better than the Ferrari and I could literally swap into one of these and have over 50k in my pocket. But looks and noise aside the conclusion was they don't drive anywhere near as good as the 458 and well its not a Ferrari and owning a prancing horse is a good feeling but you really cannot knock the value of these R8's but I think I'd still be tempted if I was going R8 to find one of the older original shape models as they are smaller on the road so easier to enjoy but more importantly you can get them with the gated manual which will seriously help tremendously with the R8's biggest issue, its damn boring to drive as it hides its speed to well and is too capable as a car to enjoy on the road.

 

[Gibbo]

Has anyone worked out if there are regional differences in the offers? Happy to be the south east rep for a small commission

Just change the postcode and see if the offer changes but I’d be surprised if there was.

 

[Gibbo]

They're quite a bit less than WBAC for me.

Goodbyecar are worse on my cars, but its a mixup between motorway and WBAC as Motorway are 17k on S2000 and 33k on Aston, but WBAC still best on 458 at 127k this week. They go up and down every week.

 

[Gibbo]

M140i sold to WBAC for what they quoted on the website. Exceptionally easy and £1500 more than BMW were offering in PX.

New car shortages seem to be getting worse not better, so be interesting what happens over Winter, will used cars soften or will they keep going up, if there is no dip during Winter then fair to say next year prices could really soar on certain cars.