If a private sale asking price was 25k.....
Discussion
No harm in asking, they can only say yes or no. I'd say they're probably looking for 24500.
How much would the car be from a dealer?
Wbac prices are rock bottom. It exists because a lot of people can't be doing with the hassle of selling privately even if it means they could get a lot more for the car. I'm thinking of changing my car soon so today I put the details into wbac. Came back as 5k. My account on autotrader says 5150 part ex and 6450 private sale. The cars for sale which are closest to mine are over 7k. I'm sure when the time comes I will sell privately as it's a very good car with no issues. If it was about to go pop I'd be taking the 5k from wbac.
How much would the car be from a dealer?
Wbac prices are rock bottom. It exists because a lot of people can't be doing with the hassle of selling privately even if it means they could get a lot more for the car. I'm thinking of changing my car soon so today I put the details into wbac. Came back as 5k. My account on autotrader says 5150 part ex and 6450 private sale. The cars for sale which are closest to mine are over 7k. I'm sure when the time comes I will sell privately as it's a very good car with no issues. If it was about to go pop I'd be taking the 5k from wbac.
No harm in offering a lower price. It all depends on detail spec, condition, desperation on the part of the seller etc.
I was selling a similar car a while ago, similar figures as you've given. Several people offered less but there was no rush on my part to sell. AT would run the ad for a long time. The right buyer came along with the full price, they didn't even test drive it. I got a better price than trade in, they got the car that they wanted at a price less than a dealer. Everyone was happy.
Oh, except those who didn't offer the full price as they didn't get the car.
On other occasions, I've accepted the first offer given as I couldn't be bothered waiting out for a better price.
I was selling a similar car a while ago, similar figures as you've given. Several people offered less but there was no rush on my part to sell. AT would run the ad for a long time. The right buyer came along with the full price, they didn't even test drive it. I got a better price than trade in, they got the car that they wanted at a price less than a dealer. Everyone was happy.
Oh, except those who didn't offer the full price as they didn't get the car.
On other occasions, I've accepted the first offer given as I couldn't be bothered waiting out for a better price.
Don’t forget WBAC will add various fees, reducing what they actually get too.
I would probably view, gauge if there are issues that would get even more knocked off, and then consider an offer. As others have said, few people who can pay £23-25k cash. Very different to sub-£10k private market where you’ve got a much bigger market who can get that kind of cash to buy privately and thus more competition.
If the car was in perfect condition, I might lead with £24k. But I’d be solely tempted to go in at £23.5k...
I would probably view, gauge if there are issues that would get even more knocked off, and then consider an offer. As others have said, few people who can pay £23-25k cash. Very different to sub-£10k private market where you’ve got a much bigger market who can get that kind of cash to buy privately and thus more competition.
If the car was in perfect condition, I might lead with £24k. But I’d be solely tempted to go in at £23.5k...
If it were my car and WBAC were offering £23K,
(and I definitely would have checked just to get an idea of where I should be aiming price wise, so I'd imagine the seller has done similar),
then putting it up for £25K, I'd probably be hoping to achieve around £24K or over as I'd consider anything below £23.5K as not being worth the hassle, and would have just let it go to them without having to incur the extra hassle of advertising and risk of someone trying to rip me off.
If your happy with the car then I'd probably go in with an opening bid of £23,750 and be prepared to go up a little from there so £24K seems a pretty fair offer.
Pistonheader101 said:
Loads of cars sell privately well above webuyanycar values. That’s just like a pawn brokers.
The flip side I've sold 4 cars to trade (at just over WBAC) values as there was little or no interest from private buyers. The cayenne and discovery 4 (both between £24k and £30k) resulted in private offers below trade, so off they went to dealers, to be sold for many thousands more in weeks.Belle427 said:
I'd be biting your hand off at anything over the wbac offer. If I was keen to sell.
Most would take a sensible offer at that price point.
There would be absolutely zero point of selling privately if the extra hassle was worth anything over WBAC. WBAC are buying cars to sell at auctions and their prices are not comparable to selling privately. Most would take a sensible offer at that price point.
WBAC's valuations are all over the place. Some cars they offer strong money for and others they lowball. Using their prices to value a private sale is completely wrong.
These buying services have made a right mess of the private market.
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