Car dealers who use WBAC for PX values
Discussion
A lot of the problem is that customers think their car is worth more then what it is, with the perception being that WBAC offer unrealistic prices. The reality is that in most cases the WBAC figure isn't that far from or is a true reflection of the p/x value.
A WBAC vehicle will be sold at a BCA auction where it will achieve in most cases a true 'Trade Value', somewhere between leaving WBAC and being sold at BCA there will be costs for transport, cleaning, entering on BCA's systems, etc etc. It's a numbers game based on getting as any cars as possible to be sold through auction making a small profit on each one. Clearly in some cases the figure is way out on more specialist cars. Also people overlook the bad points on their part exchange car, dealers don't.
Book price or WBAC price is a guide price which can be increased or decreased after taking other factors into it. A WBAC price online is generated using the same data as what CAP & Glass's use. I would say customers overvalue their car more then a dealer or WBAC will undervalue it
A WBAC vehicle will be sold at a BCA auction where it will achieve in most cases a true 'Trade Value', somewhere between leaving WBAC and being sold at BCA there will be costs for transport, cleaning, entering on BCA's systems, etc etc. It's a numbers game based on getting as any cars as possible to be sold through auction making a small profit on each one. Clearly in some cases the figure is way out on more specialist cars. Also people overlook the bad points on their part exchange car, dealers don't.
Book price or WBAC price is a guide price which can be increased or decreased after taking other factors into it. A WBAC price online is generated using the same data as what CAP & Glass's use. I would say customers overvalue their car more then a dealer or WBAC will undervalue it
Generally WBAC offer better than PX prices, use it to your advantage if selling. I have no issues with it, at least its honest & usually within 5-10% of what it will sell for at auction, add in buyers & sellers fees via the auctions & you will see there is very little margin in mainstream average cars.
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