WBAC Values
- Thread starter Gibbo
- Start date
Associate
I just traded my Mazda 3 this week and WBAC offered 4.5k less than the dealer gave me.
Soldato
- Joined
- 18 May 2010
- Posts
- 12,822
Or they just don't need the stock
Soldato
I think it's probably this. They are seeing used prices decline and don't want to be caught overpaying for a load of cars they then have to get rid on the cheap.
Soldato
Value of my V60 T6 (SE LUX PREMIUM) is whack.
I bought at £8,500 in a rather poor condition (better now!). There's currently 1 for sale in the UK on Autotrader, another import (they're selling like hotcakes) with lower spec for £10K.
WBAC put me at £5K... lol.
I bought at £8,500 in a rather poor condition (better now!). There's currently 1 for sale in the UK on Autotrader, another import (they're selling like hotcakes) with lower spec for £10K.
WBAC put me at £5K... lol.
Soldato
yeah as that's what it is worth to them. They don't actually want to buy it so put a silly low value on it.
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Just checked ours and got a bit of a shock, definitely in freefall now (gone from over £6k in the summer to £5.2k now) which is annoying as we're waiting on a new car being built. If it was more reliable I'd rather give it my dad than sell it I think as it's a lot better than his 2010 Astra.
Optimal time for trading up to new cars was definitely 2 years ago, 2021Q4 there were bonkers valuations on used cars but new car prices hadn't been hiked up fully.
Soldato
Good point!
Cinch and WeBuyAnyCar owner sees losses deepen by more than £100m as revenue drops – Car Dealer Magazine
Constellation Automotive Group – whose brands include Cinch, BCA, WeBuyAnyCar and Marshall – has recorded a deepening loss for its latest financial year.
cardealermagazine.co.uk
It's sad to see Rockingham used as a car park.Cinch and WeBuyAnyCar owner sees losses deepen by more than £100m as revenue drops – Car Dealer Magazine
Constellation Automotive Group – whose brands include Cinch, BCA, WeBuyAnyCar and Marshall – has recorded a deepening loss for its latest financial year.cardealermagazine.co.uk
That's 4 people worked there more than 40 years, not their age
I can see why when they provide decent pictures, including damage and a decent return process. I viewed far too many cars at main dealers that were in dreadful condition.
Associate
I feel used cars are about to get spanked across the board, something like 120,000 people a month are now coming off 2/3 year mortgage fixes and are looking at 50% + increases in their payments.
Just because someone has an expensive vehicle, it doesn't mean that it wasn't financed in some form (or they are mortgage free). God forbid they had the house as collateral !
Just because someone has an expensive vehicle, it doesn't mean that it wasn't financed in some form (or they are mortgage free). God forbid they had the house as collateral !
Soldato
After such a climb this is no suprise
Soldato
Is it the demand starting to slow or that the supply of new cars picking back up after covid?
More demand is slowing.
People who maybe had £500-1000 a month spare for a nice car fund I suspect are seeing that spare money eaten up by mortgage renewals, higher interest rates, cost of living, insurance cost etc. Plus finance on used cars is now much higher than it was.
As such more cars coming to market but also less demand and as such pretty much everything is dropping in retail and trade offers from sites like WBAC are massively down.
Right now anyone looking to sell try do so privately, as any trade offer will be circa 20% down from where it was a few months ago, more in some cases.
New cars are easier to get now but at same time new car prices are up but unfortunately whereas this would normally help bolster used prices, but due to the higher finance rates and people generally having less spare cash the demand for used cars is down as people cannot afford.
Anyone looking to buy a car, my advice is be mega aggressive and put offers in against several cars, make them cheeky as sellers need to sell and the car market is unlikely to recover next year, probably be 2025 onwards.
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