WBAC Values

[Greebo]

No ones that will force you to keep to the speed limit by reducing engine power to suite

They arent coming yet. Its only warnings in the early years. People will get them coded out anyway.

Yea, but I read that the engines power will be reduced until you are back at the correct speed.

source? As everything i read says the warning wont do this as it would be dangerous. You go to overtake quickly and safely and trigger the speed limit warning, last thing you want or need is the power dropping.

Although i will admit the speed limit warning bleeps are just a stepping stone. You will definitely get future cars which will say limit you to 90mph max for short periods on 70mph roads.

Car manufacturers will just make cars with slower top speeds.

 

[Diagro]

They arent coming yet. Its only warnings in the early years. People will get them coded out anyway.



source? As everything i read says the warning wont do this as it would be dangerous. You go to overtake quickly and safely and trigger the speed limit warning, last thing you want or need is the power dropping.

Although i will admit the speed limit warning bleeps are just a stepping stone. You will definitely get future cars which will say limit you to 90mph max for short periods on 70mph roads.

Car manufacturers will just make cars with slower top speeds.

Was on a news article. Although prob a scare tactics article

 

[HangTime]

Thinking of lumping away my 2010 520d which has 179k on it and has just been a work horse. They are offering £2800, I have had it 18 months and put 29k on it... I paid £4900 back then for it, pretty fair offer I think

I dunno, that's well over 40% depreciation in 18 months on a car that's already 10 years old and hence should be near the bottom of the curve already. I'd have thought in the current climate of rising prices on BMWs they would be offering £3k for it assuming you didn't overpay in the first place. If you bought it from a dealer rather than private that might explain it due to the trade overhead meaning they'll want to sell for £1.5k more than they paid (i.e they probably paid £3.5k max for it).

 

[HangTime]

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.

This phenomenon feels a bit strange to me, cash burning a hole in people's pockets so they are rushing out to overpay on stuff. I kind of get it but just worry that they must have been running quite close to the edge if they couldn't afford the luxuries they wanted before, but now they've got an extra £3k they can? I mean why weren't they buying a Rolex before, does that imply they didn't have the means in which case shouldn't they be considering genuinely banking that £3k 'windfall'?
Ultimately their choice of course but this idea that if you spend less on X then you need to spend more on Y feels like a road to ruin for some people.

 

[Greebo]

This phenomenon feels a bit strange to me, cash burning a hole in people's pockets so they are rushing out to overpay on stuff. I kind of get it but just worry that they must have been running quite close to the edge if they couldn't afford the luxuries they wanted before, but now they've got an extra £3k they can? I mean why weren't they buying a Rolex before, does that imply they didn't have the means in which case shouldn't they be considering genuinely banking that £3k 'windfall'?
Ultimately their choice of course but this idea that if you spend less on X then you need to spend more on Y feels like a road to ruin for some people.

Its more than 3k though, a lot more. We havent had an enquiry for a heated indoor swimming pool extension for 10 years and this last year we got 4, all over £1m.

Our bespoke joinery business has gone ballistic - the demand for orangeries and stuff up massively. People are dropping £20k to £50k like its nothing compared to pre covid.

You take family holidays. A lot of people didnt have one with covid and that can easily be a £3k-£6k holiday for a family of 4. So instead they decided to treat themselves to a Rolex or something. Loads of people saved a fortune from not having train season cards to pay for and worked from home for the year. All that not going out to theatres, cinema, restaurants, pubs added up to thousands and thousands for some people

Then throw in the britcoin boys - saw a group of supercars last month all being driven by guys who didnt look old enough to shave and they had some stuck on logo on their doors. I chatted to one of the guys they were all in a crypto group who had bought supercars with some of their gains and were going on a tour of the UK.

People want to spend after after a **** year and find they have surplus cash.

I am the same, I treated myself to a Sony A1 out of some of the savings I had from not going out or on holiday last year and still substantially increased my savings as well.

 

[HangTime]

Fair enough, I was just responding to the £3k stated. Maybe there are more people with huge wads of cash than I realised, I'm forever reading news stories about how many people are in mountains of debt, those that do have extra money spending it on houses etc, so I thought that was where most of it was going. I'm 'better off' since the pandemic but it hasn't really changed my spending habits significantly, a bit more on computer hardware, new Xbox etc but certainly nowhere near the savings from not commuting. Buying a new car is tempting especially with reduced depreciation these days but I know it's one of those situations where a week later after the initial retail therapy rush I'll have buyers remorse.

Walking around my town I do feel like I see more modern(ish) or moderately expensive cars than previously (people spending surplus cash on that) but it's hard to judge, it might not really be any more than before. I guess the more wealthy may have spent more of flash holidays and hence have more surplus from not taking them so they've got the 70/21 plate Audi/BMW/Merc/EV on the drive, if I ignore our honeymoon I don't think we've ever spent more than about £1500 on a holiday, and the past decade they've all been under a grand.

 

[Greebo]

And yet by your own admission you have bought more computer hardware and an xbox. I am not saying all people are spending all their gains but certianly most people are spending some.

A young guy at work was telling me that during covid year he saved a £1000 a month whereas normally he spent everything each month,. That was purely from not going out to pubs/clubbing/holidays/clothes (cause he wasnt going out).

So he has an extra £12k saved. No problem to now drop £6k on a frivolous luxury that he couldn't have afforded a year ago because of his lifestyle.

 

[dlockers]

Fair enough, I was just responding to the £3k stated. Maybe there are more people with huge wads of cash than I realised, I'm forever reading news stories about how many people are in mountains of debt, those that do have extra money spending it on houses etc, so I thought that was where most of it was going. I'm 'better off' since the pandemic but it hasn't really changed my spending habits significantly, a bit more on computer hardware, new Xbox etc but certainly nowhere near the savings from not commuting. Buying a new car is tempting especially with reduced depreciation these days but I know it's one of those situations where a week later after the initial retail therapy rush I'll have buyers remorse.

Walking around my town I do feel like I see more modern(ish) or moderately expensive cars than previously (people spending surplus cash on that) but it's hard to judge, it might not really be any more than before. I guess the more wealthy may have spent more of flash holidays and hence have more surplus from not taking them so they've got the 70/21 plate Audi/BMW/Merc/EV on the drive, if I ignore our honeymoon I don't think we've ever spent more than about £1500 on a holiday, and the past decade they've all been under a grand.

Its all relative isn't it. My boss has 2 girls in private girl, one has just left. He is now £40k a year up. He has had no holiday this year, when typically he would easily do £10k. Instead he has bought an Aston DBS and a £7k Panerai watch.

 

[Gibbo]

And yet by your own admission you have bought more computer hardware and an xbox. I am not saying all people are spending all their gains but certianly most people are spending some.

A young guy at work was telling me that during covid year he saved a £1000 a month whereas normally he spent everything each month,. That was purely from not going out to pubs/clubbing/holidays/clothes (cause he wasnt going out).

So he has an extra £12k saved. No problem to now drop £6k on a frivolous luxury that he couldn't have afforded a year ago because of his lifestyle.

This is what has happened across the industry, people saved money from not travelling, partying and that money went into DIY, computers, cars and it seems though now that restrictions have eased many people have since done up their homes and as such are now enjoying their homes so still travelling far less and not feeling the need to party or eat out as much, so money is still in surplus and thus spending is still big in DIY, cars and computers.

I think the world has changed permanently by Covid, 2020 is a real turning point in how people live and a lot of people are happy with the new way of living, work from home, travel locally rather than abroad, less partying/eating out as I guess for many they have realised how much money they actually wasted and how its better to spend elsewhere like home improvements, vehicles and computers.

I am sure as with all things the trend will change at somepoint but remainder of 2021 and 2022 seems much of the same. 2023 could be an interesting year, do people continue living as they are now or revert back to pre Covid times, though right now its too hard to call as Covid could be with us for a long time to come and whilst its about many people even if vaccinated are going to resist mingling to much as to speak.

Its all relative isn't it. My boss has 2 girls in private girl, one has just left. He is now £40k a year up. He has had no holiday this year, when typically he would easily do £10k. Instead he has bought an Aston DBS and a £7k Panerai watch.

Yep and a lot of people are maybe realising is it worth dropping 10-20k on a 1-2 week holiday or is it more sensible to put that money back in the home or on a nice car that last for years.

 

[Greebo]

I think the world has changed permanently by Covid, 2020 is a real turning point in how people live and a lot of people are happy with the new way of living, work from home, travel locally rather than abroad, less partying/eating out as I guess for many they have realised how much money they actually wasted and how its better to spend elsewhere like home improvements, vehicles and computers.

Exactly what this young lad said to me, he never realised just how much he was "wasting" each month on going out and what he can now afford to buy instead. I suspect I'll see him in a new bmw 440i on PCP soon.

 

[ChrisD.]

Pre covid and current GF I'd easily go through £100 on a day/evening out, sometimes more.

 

[rG-tom]

I
You take family holidays. A lot of people didnt have one with covid and that can easily be a £3k-£6k holiday for a family of 4. So instead they decided to treat themselves to a Rolex or something. Loads of people saved a fortune from not having train season cards to pay for and worked from home for the year. All that not going out to theatres, cinema, restaurants, pubs added up to thousands and thousands for some people

and then you extrapolate that up to people who earn very well - partners at work would happily spend ~£40k on a fortnight holiday for the family once or twice a year and not bat an eyelid, so they can just buy a Lotus Emira instead with the cash they didn't spend on those. Not that they couldn't afford an Emira anyway, but it's an even easier "screw it, no holiday so treat myself" decision than before!

 

[jpaul]

This is what has happened across the industry, people saved money from not travelling, partying and that money went into DIY, computers, cars

- the return of which are what the USA attribute July, 2nd hand car price deceleration too (13%-><1%), despite, new car chip shortages;
their current covid ressurgence is yet to be figured into prices.
Like housing, unless you suspect a crash, most people need to stay on the car ladder, so the wbac et al. premium is not realiseable,
our current petrol prices are not really paletable either, so moving to bev could be the smart move, if their value is robust.

 

[Gibbo]

- the return of which are what the USA attribute July, 2nd hand car price deceleration too (13%-><1%), despite, new car chip shortages;
their current covid ressurgence is yet to be figured into prices.
Like housing, unless you suspect a crash, most people need to stay on the car ladder, so the wbac et al. premium is not realiseable,
our current petrol prices are not really paletable either, so moving to bev could be the smart move, if their value is robust.

Smart has generally never been fun though and petrol prices were similar to what they are now before Covid came about, so no real change, they just got cheap during peak lock down due to less cars on road and though it was nice to be able to fill up and save money, I am not one for watching how much money I am putting in a car, it can get to £3 a litre for all I care, still be driving fuel guzzler noisy fun cars.

Lots of prices US side are still rocketing on special stuff, S2000 have gone bonkers and showing no signs of softening, same happening on 458 state side and many of Porsche product too, yes some of the more basic stuff has eased but special driving machines are still heading upwards.

 

[wingman]

Exactly what this young lad said to me, he never realised just how much he was "wasting" each month on going out and what he can now afford to buy instead. I suspect I'll see him in a new bmw 440i on PCP soon.

It's horses for courses though isn't it?

Going out when you're a young lad and "wasting" money is what a lot of people live for, the 440i on PCP could be seen as equally wasteful in the eyes of others.

I suppose some folk just want to get rid of their money, doesn't really matter in what way.

 

[Firegod]

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

Just checked back through the paper work. The invoice for the car was just under £35k. So yes I guess what you're saying is, aye I would get £10k in my pocket... but in reality I would have only really have £3k.

 

[Tom|Nbk]

I dunno, that's well over 40% depreciation in 18 months on a car that's already 10 years old and hence should be near the bottom of the curve already. I'd have thought in the current climate of rising prices on BMWs they would be offering £3k for it assuming you didn't overpay in the first place. If you bought it from a dealer rather than private that might explain it due to the trade overhead meaning they'll want to sell for £1.5k more than they paid (i.e they probably paid £3.5k max for it).

You're right I'm better in this case getting it gone privately, the lazy person in me just wants the ease of WBAC

I have a deposit on a 435d xdrive so it's listed up privately see how I get on.

 

[HangTime]

Valuation gone up another £205 since earlier in the week.

However there's something very odd with the impact of mileage. I'm getting offered more with an updated mileage of 67250 than with the 65000 from when I checked it in July
65000 miles = £7160
67250 miles = £7205
So putting 2250 miles on the clock (but checked on the same day) makes it worth £45 more? OK....

Plugging in various mileages around that sort of level it jumps around a bit so worth seeking out the optimal value, obviously YMMV

Another thing I've looked at is MOT validity, they offer £85 less if I change the MOT expiry from 6months+ to less than 1 month. So it probably pays to have an MOT done if it expires soon and you are confident it will pass.

 

[jpaul]

Smart has generally never been fun though and petrol prices were similar to what they are now before Covid came about, so no real change, they just got cheap during peak lock down due to less cars on road and though it was nice to be able to fill up and save money, I am not one for watching how much money I am putting in a car, it can get to £3 a litre for all I care, still be driving fuel guzzler noisy fun cars.

Maybe EV's are not a smart investment yes - article with some data discussing ev life cycle depreciation(versus just first 3 years) in the face of new model with better range/tech
I hadn't realised e-golf suffered a shock on release of ID3
https://autovista24.autovistagroup.com/news/beware-of-the-bev-and-its-remarketing-challenges/

 

[Dis86]

Valuation gone up another £205 since earlier in the week.

However there's something very odd with the impact of mileage. I'm getting offered more with an updated mileage of 67250 than with the 65000 from when I checked it in July
65000 miles = £7160
67250 miles = £7205
So putting 2250 miles on the clock (but checked on the same day) makes it worth £45 more? OK....

Plugging in various mileages around that sort of level it jumps around a bit so worth seeking out the optimal value, obviously YMMV

Another thing I've looked at is MOT validity, they offer £85 less if I change the MOT expiry from 6months+ to less than 1 month. So it probably pays to have an MOT done if it expires soon and you are confident it will pass.

That's not odd at all - it's gone up in value over the last month and a bit