Will Coronavirus hit used car prices?

[Vroomer]

Hub said:

Vroomer said:

Has the latest round of Tier2/Tier3 gloom done anything to WBAC bids?

2012/62 Focus ST estate (doing minimal mileage atm)

Sept 2019: £6,750
20 March 2020: £5,420
24 June: £7,175
14 July: £7,000
26 August £7,285
7 September £7,000
10 October £6,620
23 October £6,500

This is exactly the sort of response I was looking for – has anyone else got such a good data track?

[Vroomer]

Limp Mode said:

WBAC quoted me about £700 higher than AC when I was selling my ST in February/march. The difference is, when I turned up at WBAC they took about £1700 off the quote for invisible damage that he couldn't find again upon me asking to see it.

I went to Arnold Clark the next day and got £100 less than they quoted but still significantly more than WBAC.

I think taking these online valuations at face value is slightly naive

In the context of this discussion, the interesting thing is the trend – not the absolute value.

[Vroomer]

b80 said:

can't speak for other manufacturers but I've been monitoring Lexus ISF's and their prices have rocketed since lockdown.

Looking at the posts above, that may be about to change...

[Vroomer]

The Rotrex Kid said:

We (as a group) have sold exactly the same Humber of cars this October as last. If that helps!

Amazing!! I thought they'd stopped manufacturing Humbers decades ago!!

[Vroomer]

WBAC stopped quoting prices pretty quickly after the first lockdown but they are still giving prices at the moment...maybe that's a weekend lag.

Showrooms and auctions have to close.

From gov.uk

To reduce social contact, the Government has ordered certain businesses and venues to close. These include:

all non-essential retail, including, but not limited to clothing and electronics stores, vehicle showrooms, travel agents, betting shops, auction houses, tailors, car washes, tobacco and vape shops.

Edited by Vroomer on Monday 2nd November 00:44

[Vroomer]

One week into Lockdown 2, does anyone have an update on WBAC offers? Some posters had an excellent historical track of offers which clearly illustrated price trends.

[Vroomer]

Hub said:

Vroomer said:

One week into Lockdown 2, does anyone have an update on WBAC offers? Some posters had an excellent historical track of offers which clearly illustrated price trends.

2012/62 Focus ST estate... doing such minimal mileage as to not make any difference!

Sept 2019: £6,750
20 March 2020: £5,420
24 June: £7,175
14 July: £7,000
26 August £7,285
7 September £7,000
10 October £6,620
23 October £6,500
12 November £6,000

Exactly what I was looking for! This sort of trend data is really fascinating.

[Vroomer]

Deep Thought said:

I didnt say the cars were unpopular, i said they werent that popular. And they're not. They're not sought after dealer stock, hence why its been interesting to watch WBACs valuation over the last year or so through the pandemic.

21-Nov-19 £20,500
20-Mar-20 £12,270
08-Jun-20 £18,000
22-Jun-20 £19,000
14-Jul-20 £19,500
29-Jul-20 £21,000
2-Aug-20 £21,500
19-Aug-20 £21,680
4-Sep-20 £23,000
14-Sep-20 £23,000
30-Sep-20 £22,000
7-Oct-20 £21,570
23-Oct-20 £21,710
5-Nov-20 Declined to offer

That is an excellent data stream – it would be great to see it for other models.

And why isn't the M140i that popular? I thought they'd always had great reviews.

[Vroomer]

Classic cars are a totally different market from modern cars. In recent years they have shot up in value as investment vehicles (pun intended) and this is likely to continue in the context of a volatile stock market and interest rates of less than 1%.

[Vroomer]

eliot said:

L422 Supercharger (VRN EO13 EPD) WBAC prices over the last 4 months:

8/6/20 - £24,190
17/7/20 - 24,645
21/8/20 - £28,575
18/9/20 - £28,200
8/10/20 - £27,610
And today wbac are quoting again:
19/11/20 - £28,000

Do you mean L322?

[Vroomer]

Fantastic tracking data DT. Has anyone else got a WBAC update?

The trends are really difficult to explain!

[Vroomer]

Mr Tidy said:

I have no idea!

I sold my manual BMW Z4 Sport Coupe on 91K miles in February once I dropped the price to £6,600, and felt relieved I had shifted it before lockdown.

But as soon as lockdown ended prices went crazy, and still are going by this:- https://www.autotrader.co.uk/car-search?postcode=g...

The Z4C has long been tipped as an appreciating classic, and that seems to be coming true.

Asking prices for the best are now £14-15k, decent ones are £9-10k and anything cheaper is likely to be mega miles or suspect in some way.

[Vroomer]

When I started this thread back in March, I didn't dream it would still be running more than nine months and 500 pages later!

(There was one early poster who dismissed Covid-19 as a fuss about nothing that would be forgotten in a few weeks!)