Probably not the right place for this, but what did you order? Replacing an RS6 can't be easy.
WBAC Values
- Thread starter Gibbo
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Probably not the right place for this, but what did you order? Replacing an RS6 can't be easy.
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.
Soldato
Indeed, the RS6 is the perfect ‘do everything’ car. I’ve ordered a Civic Type R - perfect for some B road fun and the odd trip to the office/nursery.
COVID and WFH longterm has changed our requirements and outlook. We fancy a move to the countryside and the funds released will help with this.
Great choice! It gets universal praise everywhere if you can get over the divisive looks.
I’m in a similar situation as you since we’ll both WFH permanently from now on, and have carte blanche for my next car hence why I’m looking at M340i Tourings, the GR Yaris and everything in between.
Soldato
Unfortunately that doesn't yet seem to apply to the RC 300H's a bit above my budget I've been eyeing up!
Soldato
Thanks, haha luckily I love the way it looks.
Honestly, for the money there wasn’t anything else I wanted, except maybe the GR but I needed something a little bigger. The Yaris lead times are quite long now plus my CTR will be one of the last to come from the factory. Times a changin’
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.
What this is effectively doing is moving the market a bit closer to what it is like in some other countries. I've always felt the UK used car market is extremely competitive, with huge discounts on relatively new cars (aka very steep initial depreciation curve). In other places like Australia you simply don't save that much buying used from what I can tell.
So for those prepared to wait for new cars to be built, they may become relatively more attractive, specially via brokers. I do a fair bit of window shopping and nowadays I'm often seeing e.g. 1 year old cars on Autotrader priced up extremely close to buying brand new, just don't see the value in it.
I think there are a few things worth highlighting about the market:
- All countries have steep initial depreciation curves that flatten over time
- Some markets are more "fashionable" than others, Italy and the UK are two particularly fashionable markets and have lower used car prices as a result
- The UK's fashionability is driven largely by the age-based plate system, conveyor belt of company cars, and the "keeping up with the Jones's" culture around cars that is entirely absent in e.g. France
- Today's post-pandemic market is very unusual, combining a shortage of new cars (and thus young used cars) with the sorts of people who buy new and young/valuable used cars feeling flush with spare cash and a sense that they are entitled to a reward for suffering the last 12 months, and a "you never know what might happen tomorrow" attitude. There's also no shortage of credit at low rates, meaning people who want to buy can. This is driving used car prices up significantly. As an example, last week I bought a used car that hadn't even been advertised by the dealer yet! In short: I wouldn't draw too many conclusions about the long-term future based on today's market.
- A one year old car can be an attractive buy versus a new car and therefore of comparable value for a number of reasons e.g. 1) it's built, you can have it today, you can see it and try it and drive it before you buy it, 2) you can get a nice selection of options worth thousands at a considerable discount in the used value compared to the new price, 3) the initial foibles and issues a new car can have will be sorted - it's a "proven" quantity. However, there will always be a premium for a brand new fresh car that you can configure exactly how you want, it's just in the current market with a new car shortage and extra demand, these young used cars are highly sought after.
Evans Halshaw are offering the most for my 50tdi Q7 at the moment. I am getting a new car through them (on PCH though, so no trade in) and their offer for my Q7 as a straight purchase is the highest I can get. They are around 750 more than WBAC.
It's no surprise. Franchised dealers who can retail a vehicle for a premium price (thanks to warranty, upsell opportunities etc.) will pay more. There's a good chance that if you sell to WBAC it will eventually end up with e.g. Evans Halshaw, but WBAC will take their pound of flesh and Evans will need to fight other dealers for the car - so they're better off giving you a strong price to start with.
There are a lot of dealers fighting for good used stock atm as they cant sell many new cars due to the wait so dont have very much coming in as part ex. They have to sell something to make a living.
We had a dealer ring us up at work last week to see if we wanted to sell anything as he was "paying top book"
We had a dealer ring us up at work last week to see if we wanted to sell anything as he was "paying top book"
The chip shortage is affecting car manufacturers too. Basically they cancelled many of their orders when Covid hit and that is now biting them in the behind and there are too few new cars to meet demand. People who now can't buy new cars are looking at the second-hand market.
Its not just that they cancelled orders, there is a shortage even if they hadnt. The drought in the middle of rainy season where they make the majority of chips has meant chip production has been reduced by 25% despite there already being more demand than production already.
millions and millions fewer cars than normal years will be built this year and next year, just when demand for new cars is at they highest ever. Perfect storm.
The prices of used cars will tank by 2023 and those buying them now at inflated prices will see much heavier than normal depreciation.
Great for anybody who bought a new or used car back in January/February though.
Same in mine, which is why I AM jumping ship lol.
No i suspect not and would be a brave person to gamble on that happening. But even if it had just been 2019 normal demand there would have been a shortage and some increases.
As for the job market, in our industry we are certainly feeling the absence of the 780,000 EU workers who have returned home since Brexit and not come back. That and the pent up demand from the public is another perfect storm where any decent employee can basically just name their salary atm.
We have had to turn down three £1m swimming pool/spas this year after winning the tender because we cant recruit anybody to build them.
We had an extra week salary last month, I find out tomorrow what our mid-year adjustment will be. Neither were planned. Watch this space as to whether I follow suit
Haha you aren't wrong at all. You'd need to have balls of steal to have suggested we retain/hire more in October. Similar situation regarding not being able to recruit to fill. Some folk who took voluntary are now eligible to come back at higher salary than they left on..... crazy.