WBAC Values

Tenzo said:
It’s an interesting point. My new car is due to arrive in September, so the gamble is to sell now while prices are strong or hold on until prices are a) ridiculous or b) dropping back to normal
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My advice is simply to stop looking at values once you have sold.

I kept an eye on my old S3's value after I sold it last year, it's gone up another £3k, which is just depressing. However, if I'd have waited until now to sell, the cars I'd be looking at buying would have gone up a similar amount.
 
Tenzo said:
It’s an interesting point. My new car is due to arrive in September, so the gamble is to sell now while prices are strong or hold on until prices are a) ridiculous or b) dropping back to normal
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Sell now if you are able to cope without the car and big bills are on the horizon (servicing, insurance, MOT, tyres, blah). I expect the current situation will last for a fair while and I doubt we are at the peak.
 
Just sold mine to Evans Halshaw. The WBAC quote was good - £4k more than in January and £6k more than at the start of the pandemic. But Evans Halshaw offered an extra £2k. No deductions, no hassle.

I think it very much depends on the car which option will give you the best price.
 
GhostWKD said:
TBF I've heard rumors that WBAC is buying a lot of the stock to sit on in anticipation of prices going up even further in the next 6-9 months

I was looking at an abarth 595 competizione the other day for £9k from a garage which when plumbed into WBAC came out at £10,600... Did make me wonder if there was profit to be made with a haggle from the garage and anticipating a small haggle from WBAC.
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I think arbitrage would be very risky, you have no idea what WBAC will knock off and I imagine the garage isn't going to come down much if it is priced competitively. Otherwise they could just send it to auction themselves.
Then there's other factors like the number of former keepers will go up by 1, don't know if that impacts the WBAC valuation.
WBAC said:
We may require a copy of your original purchase invoice/proof of payment which should be from a recognised dealer if;

You have been the registered keeper for less than 2 months and your vehicle is valued over £5,000 or;

You have been the registered keeper for less than 6 months and your vehicle is valued at £10,000 or above, or

You have been the registered keeper for less than 12 months and your vehicle is valued at £50,000 or above
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So basically you unless you wait 6 months you would also need to show the the invoice stating you bought it for £9k the day before. I imagine that might influence what ultimately they offer you.
 
Just had an email about the value of car increasing...offering £7330 now.

I sold privately yesterday for £7300...

Unsubscribed to their emails now :cry:
 
Tragically Hip said:
Just sold mine to Evans Halshaw. The WBAC quote was good - £4k more than in January and £6k more than at the start of the pandemic. But Evans Halshaw offered an extra £2k. No deductions, no hassle.

I think it very much depends on the car which option will give you the best price.
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And whether you've bought a new car and they've wrapped it all up into a gift wrapped finance deal for you :p
 
theone8181 said:
But the admin fee would have dropped it under 7300, (at least tell yourself that to make you feel better:p).
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And I also tell myself they would probably have knocked more off for the tiny stone chip in the bonnet!

To be fair, we got a deal we were happy with.

Didn't have to drive a 50 mile round trip, cash was in my bank in seconds and the young lass was over the moon as it was her 1st car.
 
paradigm said:
My advice is simply to stop looking at values once you have sold.

I kept an eye on my old S3's value after I sold it last year, it's gone up another £3k, which is just depressing. However, if I'd have waited until now to sell, the cars I'd be looking at buying would have gone up a similar amount.
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That is really good advice. It is a similar situation with house prices.

Unless you are going to sell up and live in a cardboard box then your "gain" is absorbed by the increased cost of whatever you buy. Same deal with cars unless you are selling and not replacing.
 
lordrobs said:
That is really good advice. It is a similar situation with house prices.

Unless you are going to sell up and live in a cardboard box then your "gain" is absorbed by the increased cost of whatever you buy. Same deal with cars unless you are selling and not replacing.
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Or move up north :P
 
lordrobs said:
That is really good advice. It is a similar situation with house prices.

Unless you are going to sell up and live in a cardboard box then your "gain" is absorbed by the increased cost of whatever you buy. Same deal with cars unless you are selling and not replacing.
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Whilst this is true as a rule of thumb, it's a bit more nuanced as the whole market isn't impacted equally. Take house prices, if you look at the stats the price of flats/maisonnettes has risen by about half the amount of traditional houses. Likewise with regions, London prices have increased by about a third of the level seen in other regions. With cars, perhaps a bit flatter but certainly if I take my wife's car for example it certainly hasn't shot up in value much at all. So if someone sold their booming car and bought something like her's, they would be quids in compared to doing the same trade 6+ months ago.
 
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