WBAC - Not buying cars now.

[niggtv]

Gazzas86 said:

So i sold my car with WBAC 2 weeks ago tomorrow, and i still have not received anything through the post to confirm its changed hands etc,
Should i have done something online??, I gave him the V5, didn't sign anything on the V5, wasn't given anything from the V5 i.e. tearing bits off etc.
He gave me a piece of paper which was printed from an application done online, and it said in Progress, but i don't know if i needed to do anything extra.
How did your selling to WBAC go?, did you have to complete anything online or by post? how long did it take to receive anything through the post?

Cheers all

Same as selling any car - the responsibility is with you as seller to notify DVLA. Probably fine but you’ll need to follow up with WBAC.

[The Mad Monk]

Gazzas86 said:

So i sold my car with WBAC 2 weeks ago tomorrow, and i still have not received anything through the post to confirm its changed hands etc,
Should i have done something online??, I gave him the V5, didn't sign anything on the V5, wasn't given anything from the V5 i.e. tearing bits off etc.
He gave me a piece of paper which was printed from an application done online, and it said in Progress, but i don't know if i needed to do anything extra.
How did your selling to WBAC go?, did you have to complete anything online or by post? how long did it take to receive anything through the post?

Cheers all

It tells you on the V5 what to do.

Section 9. Do not give this section to the motor trader*
You, the registered keeper, must etc, etc.

Then in bold it says "Failure to tell DVLA may result in a fine or prosecution".

Did you do what it said?

If not, why not?

[Gazzas86]

Thank you all, So in a fit of panic thinking i should have done something when not, i just used the link above, and thankfully the vehicle has already been notified as sold. So to answer my own question yes the WBAC guy must have done it for me when i was at the appointment.

[Sub5]

I've just sold my 69 plate Transit Connect LTD to WBAC. Managed to haggle up the initial offer by £1,200. More than happy with the service. Mind you he looked round it several times and couldn't find anything to note against it. Said that was unusual

Lovey machine I shall miss it....Why can't Mrs Sub5 drive it...she keeps reminding how superior she is in everyway...your think a little van would be easy enough. I'm off car shopping 🙄

[TheDrownedApe]

Their prices seem mad. I bought a 19 plate car for £19,500 in July 19. WBAC are now offering me £17,755 whereas a dealer is offering me £17,200 in PX.

madness

[Dohnut]

TheDrownedApe said:

Their prices seem mad. I bought a 19 plate car for £19,500 in July 19. WBAC are now offering me £17,755 whereas a dealer is offering me £17,200 in PX.

madness

Is it? You bought at retail and they are offering a trade price. This is how they make money.

[TheDrownedApe]

Dohnut said:

Is it? You bought at retail and they are offering a trade price. This is how they make money.

Yeah i think perhaps you mis-read it. Bought 2019 for £19,500 and 1 year after offered £17,750. So only £1750 depreciation in 1 year for a nearly new, new reg car?

[BlueJ]

I sold my Hilux to WBAV this morning. Values do seem to be unusually high at the moment - I can only assume they need stock to get volumes up in the auctions?

I know a business that converts vans around the £10K - £15K value and they tell me there is a shortage of second hand vans at the moment. I know the commercial market is not the same as private cars, but similar factors could be driving a temporary uplift in values.

[IamJacksContempt]

Just checked and they’re offering me over £1k more than they were in March

[churchie2856]

The WBAC offer on my 718 (base, PDK, few options) has gained £1300 since Thursday! Best "investment" I have right now.

[Dohnut]

TheDrownedApe said:

Dohnut said:

Is it? You bought at retail and they are offering a trade price. This is how they make money.

Yeah i think perhaps you mis-read it. Bought 2019 for £19,500 and 1 year after offered £17,750. So only £1750 depreciation in 1 year for a nearly new, new reg car?

Doh!

I'll get me coat.

[Ratae]

Both the Arnold Clark and WBAC value of my car have gone up this week too

[lambert90]

Phil Dicky said:

Come on people why the shock? We are.more than likely going into lock down who in their right mind would expect the 'old' market value.

Yeah the uncertainty doesn't help

[Ursicles]

Reason values are so high at present is that BCA (owners of WBAC) ave very little stock at the moment, and cars are going through the auctions at well over CAP value.

Also BCA are raking in cash at present as they are online only at present, and there seems to be a realisation that this might be a totally new (aka profitable) way of working.

If you need to sell - sell now as dealers reporting the initial surge in demand for cars has more or less dried up, so they will be buying less stock and in turn BCA wont be seeing the numbers they currently are.

[ACCYSTAN]

BCA online buying is not what it’s cracked up to be.

Heard quite a few negative reports with BCA being a right pain in the #### when returning cars that are not as described.

A trader with a platinum BCA card (buys around 300 cars a year) getting the run around.
If I recall he described the BCA condition report ‘a complete waste of time’.

[BlueJ]

Ursicles said:

Reason values are so high at present is that BCA (owners of WBAC) ave very little stock at the moment, and cars are going through the auctions at well over CAP value.

Also BCA are raking in cash at present as they are online only at present, and there seems to be a realisation that this might be a totally new (aka profitable) way of working.

If you need to sell - sell now as dealers reporting the initial surge in demand for cars has more or less dried up, so they will be buying less stock and in turn BCA wont be seeing the numbers they currently are.

Interesting, and makes complete sense in light of my experience. Monitored WBAV's valuation of my Hilux for about 6 months before responding to their latest valuation last Friday. This was much higher than previous valuations. Sold the vehicle to them on Monday, just £2,700 less that I paid for it as a pre-registered vehicle (13 miles on clock!) from a Toyota dealer 18 months ago. Invincible X spec, sold with 15,400 miles.

[av185]

ACCYSTAN said:

BCA online buying is not what it’s cracked up to be.

Heard quite a few negative reports with BCA being a right pain in the #### when returning cars that are not as described.

A trader with a platinum BCA card (buys around 300 cars a year) getting the run around.
If I recall he described the BCA condition report ‘a complete waste of time’.

Trouble is with BCA is their lack of consistency.

The condition reports are only their opiniin and vary hugely from branch to branch.

We have bought many Grade 4 cars which are better condition than Grade 2.

[ACCYSTAN]

BCA the Number 1,2 & 3 priority are the shareholders.

Evidenced in the increased buyers fees that make buying from auction a complete waste of time for the non trade and trade if your buying less than 50 cars a year.

You have to be on the platinum account level or higher to avoid ridiculous fees.

[Bemmer]

ACCYSTAN said:

Evidenced in the increased buyers fees that make buying from auction a complete waste of time for the non trade and trade if your buying less than 50 cars a year

I can't see anything wrong with that...? Why shouldn't a none trade private buyer or a car a dealer buying less than one car a week pay more..? It's like most trade accounts in most industries,the more you spend the bigger the discount and more incentives you recieve..?

[ACCYSTAN]

I agree with what your saying about loyalty / trade discount, but they have become greedy and the fees for smaller traders and private buyers have gone up as much as 35% in 5 years (there was an forum thread on honest John back room about it in the last year).
The fees for small traders are ridiculous,
They should be encouraging competition to drive up the prices for sellers.