Soldato
About £11,000 nothing special Peugeot 208. It’s the dealers that are the problem.
I am legally obliged to sell once accepted but seems the same is not for the dealers.
WBAC Values
- Thread starter Gibbo
- Start date
I am legally obliged to sell once accepted but seems the same is not for the dealers.
Caporegime
WBAC and others around 2-5% under Volvo main dealer negotiated trade-in price.
Offloaded the Evoque and picked up a couple of year old XC90.
Offloaded the Evoque and picked up a couple of year old XC90.
Luck of the draw. When I sold the SEAT the guy who came was OK, but the buying dealer from Solihull SEAT was a bit of a tool. Their T&Cs contradict all car buying guidance as well; I didn't actually get paid till 24hrs later...
2020 M340i estate.I take it you don't own a power orange 67 plate C3 then?
Much more desirable than what we've got.
Soldato
Curious if anyone has any idea how the upcoming recession would hit car values. WBAC have quoted £25.1k for my Lexus which is around what we paid last June. Given we're planning on emigrating in 2 years, i'm not sure whether to just sell the car and buy something cheap for £10k whilst i can and save on the high tax costs/servicing costs/repayments towards our move.
I know it's a bit open ended, but i imagine the opportunity of people to spend £25k on a car will be reduced over the coming 2 years.
I know it's a bit open ended, but i imagine the opportunity of people to spend £25k on a car will be reduced over the coming 2 years.
You only need to check out GD to see a lot of folk are going to avoid new cars due to their massive costs nowadays - so I think you'll do well to keep hold of it.
Soldato
Yeah i guess. I think i'm just trying to think long term. I'd had a rough value of budget for a Spanish house, but with the way house prices/exchange rates are going, that could easily plummet and i'd assume we'd be worse affected than Spain. Plus with the mortgage rates (tracker)/energy costs and my wifes son moving home increasing costs there too. I'm seeing our ability to save reducing by ~£500 a month and so looking at possible other options knowing it's only a short term hit.
seems you have a n300h hybrid, have you managed to exploit battery with low mpg/running costs ?
had read an eu article which said buyers now aspired more for full evs (range good enough) and manufacturers were responding with planning decisions;
.. if the economy has not been there for you, maybe go older ICE
had read an eu article which said buyers now aspired more for full evs (range good enough) and manufacturers were responding with planning decisions;
.. if the economy has not been there for you, maybe go older ICE
Soldato
That's the one. It's hybrid in pretty much name only! Whilst it has a battery which kicks in at low speeds, it's not really functional in the proper "hybrid" sense and MPG is around 35, i guess down to an inefficient 2.5l petrol engine.
We don't really do enough miles for it to be an issue, at ~5k/yr. We both work from home so it's mainly just used for small journeys to the shops once a week, with the odd long journey to the Lakes/Yorkshire for me running/cycling.
Just to bookend this story. (the above is from Nov 2021)
Dealer gave me a 2020 sportage for £320 a month, on a rolling month by month basis, put me on the V5c. Had hoped to get the EV6 AWD around March/Apr, but ever extending new car delivery times is an industry wide problem. So I paid £3200 for the 10 month rental.
Took delivery of the EV6 AWD a couple of weeks ago, cost was £51,900. Back in Nov, Cazoo gave me £49,500 for my 22 month old discovery sport. Stuck that into Chase @1.5%. Got about £620 in interest, which more than covered the cost of taking the ferry to scotland and flying home.
Overall it cost £51900+£3200-£49500, approx £5.6K to change.
Today Cazoo is valuing the Disco sport @ £32,100, WBAC @ £38,700.
So selling to Cazoo when I did and running the "runaround" sportage for 10 months resulted in cost to change of £5.6K, instead of £13.2K if doing it today. (based on the WBAC valuation).
That's ignoring that the new price today of the same EV6 is Circa £6K more than the price I agreed in Nov last year.
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The strangest thing I am seeing is cars are dropping on WBAC and similar but not Autotrader, for example:
Lexus IS300 Hybrid 2015- £12-13k on Autotrader which is indicated as a good price
WBAC/Cazoo will only offer £7k for that same vehicle
£5k profit margin for them? Surely that's not right, I know that WBAC values tend to be lower but 40% lower is ridiculous and it's not an uneconomical car, it's relatively modern, ULEZ compliant, hybrid.
Something doesn't add up
Lexus IS300 Hybrid 2015- £12-13k on Autotrader which is indicated as a good price
WBAC/Cazoo will only offer £7k for that same vehicle
£5k profit margin for them? Surely that's not right, I know that WBAC values tend to be lower but 40% lower is ridiculous and it's not an uneconomical car, it's relatively modern, ULEZ compliant, hybrid.
Something doesn't add up
I've noticed cars are staying around for longer but it's almost like a stalemate as to who will drop their price first. Surely once that stock goes in the next month or two, the values should come down as the trade in values have gone down a considerable amount
The cars on the forecourts were likely bought as much as nine months ago at the vastly inflated prices and the dealers cannot afford a £5k+ bath so will hold on to their increasingly small margins for a while yet.
Peak WBAC for my old 2007 Mondeo was £1500. Took it to WBAC last week, online valuation was £730 they offered £400 on the day. Eventually sold it to The Car Buying Group for £925 which was a very easy process - nice lad picked it up and they didn't try to change the agreed price. Screw WBAC.
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