WBAC - Not buying cars now.

[Deep Thought]

HTP99 said:

Deep Thought said:

we're now going to be very quickly in to the realms of people only changing because they "need" to change.

Which will likely firm up and and may even result in the value of used cars rising.

I think people will put off changing their car for as long as possible. Granted, as i said, some people will need to make a move if they're at the end of a PCP or lease term, but a lot of people wont.

[InitialDave]

XIII said:

InitialDave said:

hyphen said:

demand for car is going to be lowe

People are getting robbed?

How are they being robbed? You dont have to sell to WBAC, you know. But if you do, they'll give you the cash for it. Where else are you going to go for it?

https://en.m.wikipedia.org/wiki/Rob_Lowe

[cuprabob]

InitialDave said:

XIII said:

InitialDave said:

hyphen said:

demand for car is going to be lowe

People are getting robbed?

How are they being robbed? You dont have to sell to WBAC, you know. But if you do, they'll give you the cash for it. Where else are you going to go for it?

https://en.m.wikipedia.org/wiki/Rob_Lowe

Nah, he meant Arthur Lowe

[Juanco20]

I went to Arnold Clark on Sunday and was offered 12.5k for my 308 GTI. I arranged to go back on Friday to hand it over

I was pondering on Monday night about what impact the current situation would have on companies like AC and even asked for advice on here as to how guaranteed their price guarantee is. I decided it wasn't worth risking it and phoned them first thing Tuesday morning to arrange an appointment for 5pm. When I got down there, the chap says to me "you're very fortunate as we've had instruction from head office to honour Tuesday's appointments and then we're not buying anymore cars. Yours is the last we're taking"

[clive_candy]

cuprabob said:

InitialDave said:

XIII said:

InitialDave said:

hyphen said:

demand for car is going to be lowe

People are getting robbed?

How are they being robbed? You dont have to sell to WBAC, you know. But if you do, they'll give you the cash for it. Where else are you going to go for it?

https://en.m.wikipedia.org/wiki/Rob_Lowe

Nah, he meant Arthur Lowe

Don't tell him Pike.

[G_Morto]

Think I might go ahead and cancel my lease order since I'm still within the 14 day cancellation period anyway.

Was planning to sell my current car to Arnold Clark but god knows when I'll be able to get rid of it for a reasonable price now.

[300bhp/ton]

HTP99 said:

I wouldn't, it's just that dealers and the car buying companies etc don't want more stock at the moment for obvious reasons, it will pick up again.

Could also be an attempt to control the market and prices. WBAC are pretty large and control the values of a lot of cars. For example, while they are now offering maybe 2/3rds of the price only a few days ago, have they also reduced the cars they sell out by the same amount?

[Quinnaay]

I'm meant to be collecting my new car tomorrow. I haven't signed anything but the finance details went in (I'm assuming it got accepted as I'm collecting tomorrow) I'm also trading in my vehicle as part of the deal, it's PCP would you still say go for it or is it potentially a disaster right now.

Trading in Fiesta ST

Collecting 320i Touring shadow edition

[Dolf Stoppard]

Mine's dropped £3k on WBAC - from £11.5k to £8.5k. But if I look on the website of the Mercedes dealer which has a car I'm interested in, it's showing as £12k.

I wonder what they'd actually offer against a £26k Merc?

[stevemcs]

Dolf Stoppard said:

Mine's dropped £3k on WBAC - from £11.5k to £8.5k. But if I look on the website of the Mercedes dealer which has a car I'm interested in, it's showing as £12k.

I wonder what they'd actually offer against a £26k Merc?

Stick the number plate in on WBAC and see

[Dolf Stoppard]

stevemcs said:

Dolf Stoppard said:

Mine's dropped £3k on WBAC - from £11.5k to £8.5k. But if I look on the website of the Mercedes dealer which has a car I'm interested in, it's showing as £12k.

I wonder what they'd actually offer against a £26k Merc?

Stick the number plate in on WBAC and see

As above, I have! It's dropped by £3k, but the Value my Car tool on the Merc website shows £12k and says it's valid for 24 hours.

[Phil Dicky]

300bhp/ton said:

HTP99 said:

I wouldn't, it's just that dealers and the car buying companies etc don't want more stock at the moment for obvious reasons, it will pick up again.

Could also be an attempt to control the market and prices. WBAC are pretty large and control the values of a lot of cars. For example, while they are now offering maybe 2/3rds of the price only a few days ago, have they also reduced the cars they sell out by the same amount?

Their cars go through the block, so all they can do is put a reserve on.

[M4cruiser]

The price reductions are an obvious symptom (or result) of the current economic uncertainty.

I'm definitely not changing my car at present unless if gives up with a big mechanical issue, and then if it does I'll go for a £700 or £800 runabout to last a few months.

Who is going to splash out now when we don't know if we'll have jobs, petrol or even food in a month's time?

[niggtv]

I expect WBAC/BCA have a fairly simple stocking level calc, and their decision can be based largely on this. It's been a strange week, with everything a bit on hold - but I think sales will resume, particularly now the government is essentially underwriting salaries.

[Ed T]

Here you go. 18 plate XC90 D5 17k miles goes back in a week or so and I’ve already got a Q7 arrived on 4 year pcp (I see this as a blessing).

Last week XC90 valued at £31,500....checked on WBAC and it’s £19,500. £54k new 2 years ago...ouch for the lease company.

[PorkInsider]

Just checked an M4 I sold about 6-7 weeks ago.

WBAC price is down by £16k on what it was at the time.

That's minus around 42%

They clearly don't want any cars at the moment - can't blame them, though.

[Deep Thought]

PorkInsider said:

Just checked an M4 I sold about 6-7 weeks ago.

WBAC price is down by £16k on what it was at the time.

That's minus around 42%

They clearly don't want any cars at the moment - can't blame them, though.

Thats totally mental. Our 2019 M140i is worth £12,300 apparently.

They'd be safer closing up until its blown over as as a PR exercise offering ridiculously low prices is not helping their image.

[SuperNads]

Deep Thought said:

Thats totally mental. Our 2019 M140i is worth £12,300 apparently.

They'd be safer closing up until its blown over as as a PR exercise offering ridiculously low prices is not helping their image.

I think you're underestimating how many people may need to free up cash in the coming months.

[Deep Thought]

SuperNads said:

Deep Thought said:

Thats totally mental. Our 2019 M140i is worth £12,300 apparently.

They'd be safer closing up until its blown over as as a PR exercise offering ridiculously low prices is not helping their image.

I think you're underestimating how many people may need to free up cash in the coming months.

I dont think i am - particularly given the government is now stepping in to pay wages.

Granted a tiny minority may be forced to take their price, but how much bad PR will they get to do so?

[unident]

PorkInsider said:

Just checked an M4 I sold about 6-7 weeks ago.

WBAC price is down by £16k on what it was at the time.

That's minus around 42%

They clearly don't want any cars at the moment - can't blame them, though.

This intrigued me. I sold mine via motorway a week last Thursday for more than WBAC were offering but just checked for reference. These are the results

2 weeks ago £31345 - guaranteed for a week
Now £19000 - only guaranteed for 24 hours

A 40% drop - proof below for anyone doubting it.