WBAC Values

[ChrisD.]

They've basically closed the ecosystem up. WBAC own Cinch - so most of the cars they are buying, they tart up and then sell on a juicy 9.9% APR finance agreement.

Plus profit on the car without the outlay of fancy dealerships.

 

[Tom|Nbk]

You do it online now. Instant and new log book will be with you in 2-3 days.

Yea I am just mulling it over today, think it's a good move tbh, frees up some capital for the time being while I decide on my next car.

 

[Maccy]

Interesting, motorway.co.uk offering £995 more than WBAC

 

[peige]

Motorways offers are a little fluid, they offer an amount but it goes to bid amongst dealers and they come back a couple of days after the "auction" with an amount offered which can be ether way of the initial amount quoted. In my own case it was less than offered but still a couple of hundred more than wbac at the time but others have had a much better offer if the car was sought after by the dealers.

 

[ChrisD.]

Interesting, motorway.co.uk offering £995 more than WBAC

Is that after doing the photos? My final offer was a fair amount below what they quoted at the start.

 

[Scania]

geez yes well done a great great price for a what is a terrible car too.

To be fair it drove exceptionally well, no squeaks or rattles whatsoever (my old man was particularly anal about such things) but it was a world away from the e39 528i which it replaced which my dad constantly harped on about, that said, he kept it 14 years so it can’t have been all bad.

You do it online now. Instant and new log book will be with you in 2-3 days.

This.

My dads C180 had a private plate, did it online and ordered some new plates off eBay.

Here is the question though, with WBAC buying so many used cars and paying good money, generally better money than what garages want to pay, what or where are all the cars they are buying going?

Are they sitting on stock and then releasing it a few months later when values have risen even further to make more profit, are they getting broken for parts, has anyone who sold them a car checked if the car is back on the road?

Just wondering where the cars are going or is it a case of the garages and dealers refusing to match the WBAC offers in the end just end up buying said cars for more or at auctions?

I ask because the two dealerships close to me, are now looking somewhat empty which if it keeps up will surely hurt business if they get to a point where they have nothing to sell or are left with the cars no one wants.

Also the car groups are normally filled with people posting just got my new September 1st car, but this has reduced greatly, been in a few GR and Mustang groups could not help but noticed to have hardly seen any just got my new car post, think I've seen just one red GR delivered and another delivered which was missing a fuse to make the stereo work.

Interesting times ahead me thinks as its not going to improve this year so Winter may not see any softening in prices of used cars, maybe the opposite.

I can understand the silly pricing on newer and more interesting stuff but things like my dads C180 baffle me, he gets just shy of £3200, assuming a dealer has to sort the tyres, perhaps the aircon compressor (although I doubt they’ll touch it) the fan clutch, MOT and prep it for sale I can’t see much profit in the car at the end of the day, I’m guessing they’ll stick £2k plus on it to retail which leaves the question who wants a 2007 Merc - and a fairly boring one at that - for north of £5k?

 

[Tom|Nbk]

Well just put my private plate onto retention and putting old plate back on the 5 series, looks like it's going. It's a good offer from WBAC and really not worth me trying to get a few hundred more with a private sale as I really CBA with selling cars these days and the turnips that show up.

 

[rockermark]

Here is the question though, with WBAC buying so many used cars and paying good money, generally better money than what garages want to pay, what or where are all the cars they are buying going?

Are they sitting on stock and then releasing it a few months later when values have risen even further to make more profit, are they getting broken for parts, has anyone who sold them a car checked if the car is back on the road?

Just wondering where the cars are going or is it a case of the garages and dealers refusing to match the WBAC offers in the end just end up buying said cars for more or at auctions?

I ask because the two dealerships close to me, are now looking somewhat empty which if it keeps up will surely hurt business if they get to a point where they have nothing to sell or are left with the cars no one wants.

Also the car groups are normally filled with people posting just got my new September 1st car, but this has reduced greatly, been in a few GR and Mustang groups could not help but noticed to have hardly seen any just got my new car post, think I've seen just one red GR delivered and another delivered which was missing a fuse to make the stereo work.

Interesting times ahead me thinks as its not going to improve this year so Winter may not see any softening in prices of used cars, maybe the opposite.

The cars all go through BCA auction, They are currently going out as fast as they come in.
I see cars coming in one afternoon and collected the next morning.

Seem to be bought by local dealers, biggish sizes like availablecar and the cheaper cars going to back street types.

This week I have seen a Yaris GR with 38miles and another Mustang Bullitt

 

[Steedie]

Motorway are now offering 6k more than I paid for the car a year ago, which is bonkers really.

 

[Tom|Nbk]

Motorway are now offering 6k more than I paid for the car a year ago, which is bonkers really.

Get it gone.

 

[Steedie]

Get it gone.

I did briefly consider it when it was a couple of k more, but I absolutely bloody love this car. To better it, I'd need something like a GT63s, which is way beyond my budget anyway, even after putting the money from the C63 down on it

 

[ShadowMan]

In the process of changing my car and due to collect next week. Thought I would recheck WBAC and price had gone up another £1k. Spoke to dealer and they are upping their trade in by the same. Still below WBAC price but a sum but means I don't have to worry about admin fees, kerbed wheels and getting a lift to the dealer on a weekday to collect new one. So far will have lost about 20% total in 2.5 years on a new car. Crazy pricing really.

 

[dlockers]

I can understand the silly pricing on newer and more interesting stuff but things like my dads C180 baffle me, he gets just shy of £3200, assuming a dealer has to sort the tyres, perhaps the aircon compressor (although I doubt they’ll touch it) the fan clutch, MOT and prep it for sale I can’t see much profit in the car at the end of the day, I’m guessing they’ll stick £2k plus on it to retail which leaves the question who wants a 2007 Merc - and a fairly boring one at that - for north of £5k?

I think if the luxury watch market is anything to go by - people who have "banked" the £3k 'top-up' by not going on holiday last year/this year. Some boggo standard Rolex's are going for 2x retail because of the wait list, and I doubt it is because they are "worth it" - its just people are willing to pay it as that cash was budgeted for elsewhere.

 

[Gibbo]

The cars all go through BCA auction, They are currently going out as fast as they come in.
I see cars coming in one afternoon and collected the next morning.

Seem to be bought by local dealers, biggish sizes like availablecar and the cheaper cars going to back street types.

This week I have seen a Yaris GR with 38miles and another Mustang Bullitt

Yeah a couple of folks in the GR groups have sold up as gotten 36-38k for them, basically paid to drive and enjoy, then move it on, which is fine if no intentions on replacing. I suspect Toyota no longer accepting new orders is helping used prices also.

 

[Tom|Nbk]

I did briefly consider it when it was a couple of k more, but I absolutely bloody love this car. To better it, I'd need something like a GT63s, which is way beyond my budget anyway, even after putting the money from the C63 down on it

Love it enough to miss out on 6 grand? Get it gone haha

 

[Steedie]

Love it enough to miss out on 6 grand? Get it gone haha

6 grand isn’t really that much when we’re talking about 53 grand and then having to replace it with something I like as much, which have equally gone up in value or cost over twice as much

 

[Tom|Nbk]

6 grand isn’t really that much when we’re talking about 53 grand and then having to replace it with something I like as much, which have equally gone up in value or cost over twice as much

Get a Fiesta Zetec 1.25 m8 & invest the 50k+

 

[rG-tom]

For fun I put my reg in. 2020 A35 AMG with 1,100 miles on the clock. Owned it for about 8-9 months now. I haven't done anything with the offers, just ignored them, but I got another email yesterday to say it had been increased again. I'm now just shy of £38K. My outstanding balance is £33k and I generated an early settlement quote which is for £28k. That would mean potentially a £10k lumper for me. Tempting like... but what would I get in its place!

how much is outstanding is relatively irrelevant, how much did you pay?

Here is the question though, with WBAC buying so many used cars and paying good money, generally better money than what garages want to pay, what or where are all the cars they are buying going?

Are they sitting on stock and then releasing it a few months later when values have risen even further to make more profit, are they getting broken for parts, has anyone who sold them a car checked if the car is back on the road?

Just wondering where the cars are going or is it a case of the garages and dealers refusing to match the WBAC offers in the end just end up buying said cars for more or at auctions?

I've managed to trace the 430i that I sold to WBAC through to a dealership. History of that car:

BMW 430i Gran Coupe, Feb 2019 car.

1) Bought November 2019 with 10k miles for £24,900 approved used.
2) August 2021 - BMW offered me £24k trade-in . WBAC gave me £25,100 after all admin fees, having knocked £40 off for a stone chip.
3) It went through auction 3 days later, and sold for £26,200 (friend in the trade gets full list of sold cars and we could identify it from that).
4) It took 3 weeks, but as of Monday, it went up for sale for £27,999 at Motorpoint in Yorkshire.

What's even more annoying is that I actually got motorpoint to give me a quote to sell it to them whilst shopping around, and they only offered £24,500, so why on earth they were happy to pay £26,200 from BCA I'm really not sure! That extra £1,100 would've been better in my pocket Would've made my ridiculously "under-priced" 440i upgrade £50

 

[Gibbo]

Get a Fiesta Zetec 1.25 m8 & invest the 50k+

Though the stock market has certainly been lucrative for myself in the past year or so I'd never recommend anyone to invest money, you can also lose big time and he may also be already invested anyway.

6 grand isn’t really that much when we’re talking about 53 grand and then having to replace it with something I like as much, which have equally gone up in value or cost over twice as much

Problem is whatever you might be considering to move to next has probably also gone up 6k or more.

It only works if you intend to bank the cash (maybe invest) or buy a car that has maybe come down since you purchased yours as though its rare some cars have actually reduced in price, been watching 812 values which are still coming down. But on the flip side Speciale's have gone up around 50k, whereas my own car value remains same as I keep adding miles to it, lol.

 

[Gibbo]

how much is outstanding is relatively irrelevant, how much did you pay?





I've managed to trace the 430i that I sold to WBAC through to a dealership. History of that car:

BMW 430i Gran Coupe, Feb 2019 car.

1) Bought November 2019 with 10k miles for £24,900 approved used.
2) August 2021 - BMW offered me £24k trade-in . WBAC gave me £25,100 after all admin fees, having knocked £40 off for a stone chip.
3) It went through auction 3 days later, and sold for £26,200 (friend in the trade gets full list of sold cars and we could identify it from that).
4) It took 3 weeks, but as of Monday, it went up for sale for £27,999 at Motorpoint in Yorkshire.

What's even more annoying is that I actually got motorpoint to give me a quote to sell it to them whilst shopping around, and they only offered £24,500, so why on earth they were happy to pay £26,200 from BCA I'm really not sure! That extra £1,100 would've been better in my pocket Would've made my ridiculously "under-priced" 440i upgrade £50

That is unfortunately dealers, they think us private punters are desperate for cash and low ball us, the downside is many of them miss out by doing so and then buy through their regular channels at a higher price point. The dealership I got the 458 from keep in touch and make offers to buy the car back, those offers range between 118-132k depending on which way the wind is blowing, I had another Ferrari dealership get in touch last week saying sorry we cannot find you a Speciale but we want to buy your car, out of curiosity I asked how much, their response 120k, our guy can be with you tomorrow and the cash in your bank, seemed a little pushy actually and I know Ferrari dealerships add a solid 20-30k to their trade price, so in short my car would have retailed at 140-150k. Also looking at what is for sale and the specification I know that 120k is very much low ball and very much a trade offer, its not bad but as my response to them was I am not going to let go of a 458 that is perfect in specification to myself when you can't offer me a car that meets my requirements.

Small used car dealers are running out of cars, large dealerships are running out of cars.

So my view is if that used prices will move up further because if car dealerships start to run out of stock to sell, due to lack of supply, then prices will increase. Its no secret but a lot of people have got rather rich during the pandemic, mainly down to trading the stock market, I know of several guys who were comfortable who are now essentially loaded from either trading crypto or regular stock market and as such they are buying up cars now for their enjoyment with no plans on selling them at a later date, essentially just collecting because they can.