Will Coronavirus hit used car prices?

[Auto810graphy]

liner33 said:

Sold my sons C1 a few weeks ago, first person to see it bought it and didnt haggle, I could have sold that car 10 times over based on phone calls and people stopping. Mot chap told me that small cars are in a really high demand at the moment and he was right

Totally, lots of extra demand for cheap small sub £5k as so many families adding a second small car for school runs or people just getting to work. Margins are so tight in the trade private sellers have the upper hand.

Next few months will be interesting as unlike last time as most businesses seem open and new and used cars are flowing into the trade but actually selling used cars to the public looks a ball ache.

[dunc_sx]

Sold a 2007 911 at the weekend (privately) for the price I was asking, got 2 other offers to buy unseen for the full price if the purchaser backed out.

So no dip in price for that sort of car from what I can tell yet.

Dunc.

Edited by dunc_sx on Thursday 5th November 08:42

[Mirinjawbro]

thought id give WBAC a try , even though reviews are bad and you usually only hear the bad ones.


£16,190 offered online

appointed offered £14,144

4 x alloy fixes -£384 ( a few scuffs so ok fine)
1 x service dash light -£451 ( needs a service but not -£451 worth)
2 x body panel fixes - £802 nope - couple of very light dings from shopping
smart repair -£94 nope
admin fee -£75 you already hire someone to input this, why charge an admin fee

condtion report total -£1733

"it needs to be in mint condition when we sell it"

a 4 year old car is not going to be in mint condition

goodbye

[dunc_sx]

Mirinjawbro said:

a 4 year old car is not going to be in mint condition

goodbye

While I don't agree with the WBAC prices or adjustment in anyway, a 4 year old car can easily be mint condition imo.

Dunc.

[Deep Thought]

andburg said:

CS Garth said:

Or because of greed and thinking she knew best

yeah, not sure its thinking she knew best but possibly hoping I was wrong.

i believe she was offered something like £200 less than she was willing to accept bottom line initially.

Amazing how 6 weeks later the bottom line she was willing to accept is so much lower

I think a lot of people see online prices and think selling their car is "easy" and that they'll have people fawning all over them to buy their car and it'll be gone in a week. They then spend weeks getting poor offers and if advertising online the "whats the least you'll take m8. Cash" and "£3k and i'll take it off your hands today" messages to field, tyre kickers and dodgy types at your house, being let down by people who say they're coming to see it / will buy it and suddenly a trade offer becomes more appealing.

[Deep Thought]

Mirinjawbro said:

thought id give WBAC a try , even though reviews are bad and you usually only hear the bad ones.


£16,190 offered online

appointed offered £14,144

4 x alloy fixes -£384 ( a few scuffs so ok fine)
1 x service dash light -£451 ( needs a service but not -£451 worth)
2 x body panel fixes - £802 nope - couple of very light dings from shopping
smart repair -£94 nope
admin fee -£75 you already hire someone to input this, why charge an admin fee

condtion report total -£1733

"it needs to be in mint condition when we sell it"

a 4 year old car is not going to be in mint condition

goodbye

Given they're just whacking them through an auction and wont do any of the work, thats an outright lie.

Conversely, if that car was sitting on a forecourt ANY buyer - likely yourself included - would expect a four year old car to be in mint condition.

[Mirinjawbro]

dunc_sx said:

While I don't agree with the WBAC prices or adjustment in anyway, a 4 year old car can easily be mint condition imo.

Dunc.

well yea if its sat in a garage for 4 years

a normal person driving, not with it covered in PPF and average mileage WILL have small stone chips. minor dents, paint chips or whatever

[Trustmeimadoctor]

Deep Thought said:

Mirinjawbro said:

thought id give WBAC a try , even though reviews are bad and you usually only hear the bad ones.


£16,190 offered online

appointed offered £14,144

4 x alloy fixes -£384 ( a few scuffs so ok fine)
1 x service dash light -£451 ( needs a service but not -£451 worth)
2 x body panel fixes - £802 nope - couple of very light dings from shopping
smart repair -£94 nope
admin fee -£75 you already hire someone to input this, why charge an admin fee

condtion report total -£1733

"it needs to be in mint condition when we sell it"

a 4 year old car is not going to be in mint condition

goodbye

Given they're just whacking them through an auction and wont do any of the work, thats an outright lie.

Conversely, if that car was sitting on a forecourt ANY buyer - likely yourself included - would expect a four year old car to be in mint condition.

BMW don't think that or at least one of their dealers as slot of their stock had scratches down to primer an filthy interiors and broken trim

[Deep Thought]

Trustmeimadoctor said:

Deep Thought said:

Mirinjawbro said:

thought id give WBAC a try , even though reviews are bad and you usually only hear the bad ones.


£16,190 offered online

appointed offered £14,144

4 x alloy fixes -£384 ( a few scuffs so ok fine)
1 x service dash light -£451 ( needs a service but not -£451 worth)
2 x body panel fixes - £802 nope - couple of very light dings from shopping
smart repair -£94 nope
admin fee -£75 you already hire someone to input this, why charge an admin fee

condtion report total -£1733

"it needs to be in mint condition when we sell it"

a 4 year old car is not going to be in mint condition

goodbye

Given they're just whacking them through an auction and wont do any of the work, thats an outright lie.

Conversely, if that car was sitting on a forecourt ANY buyer - likely yourself included - would expect a four year old car to be in mint condition.

BMW don't think that or at least one of their dealers as slot of their stock had scratches down to primer an filthy interiors and broken trim

If people are dumb enough to buy an Approved Used car in that condition then they'll get away with it. Certainly not how i'd want to be buying a car - nor would most people.

[Alex_225]

We're in the process of gearing up to sell my other half's 2009 CLS350cdi and the market for those seems a bit all over the place. Dealerships selling older models for £6k and high mileage older ones going for £3.5k.

We looked to part ex but considering WBAC were offering £4.5k the part ex price was £3.5k so opting to sell it ourselves although under no illusion we'll likely shift it in the new year. I'll be having the wheel refurbished so it'll be the best example it can be and go from there.

[liner33]

Mirinjawbro said:

well yea if its sat in a garage for 4 years

a normal person driving, not with it covered in PPF and average mileage WILL have small stone chips. minor dents, paint chips or whatever

All alloys scuffed, nope , dents , nope , few minor stone chips unavoidable but no-one wants to buy a 4 yr old car with scuffed alloys, dents and requiring a smart repair, its clearly not be looked after very well

[Deep Thought]

Furlough scheme now extended until next March.

That will be another contributing factor over the winter. Hard to know if it'll be a + or - effect....

[SpeedBash]

liner33 said:

Sold my sons C1 a few weeks ago, first person to see it bought it and didnt haggle, I could have sold that car 10 times over based on phone calls and people stopping. Mot chap told me that small cars are in a really high demand at the moment and he was right

Matches my assessment based on the following.

Someone I know is a car dealer and parks some of his stock on my road.

Lockdown 1, when the magic money tree was over flowing, he was parking up prestige £15k+ german marques which were attracting plenty of viewers and seemed to be selling within days.

Noticed that for the last 2 months, similar stock of his is parked up for longer and hardly attracting any viewers.

Penny seems to have dropped and he has started parking up smaller run-arounds, sub £7k, but time will tell if they sell.

[drophead]

Hmm - furlough scheme extension will hopefully keep the sales flowing for longer. Does the industry slow down or speed up this time of year? Apologies, i'm not in the 'industry', just a petrolhead.

I'm putting my MINI on Motorway and see what the interest is there. As someone said earlier, can't be bothered with the faff of gumtree and facebook in order to get a couple £££ more when it can (hopefully) go with a fortnight through a dealer.

[cedrichn]

Deep Thought said:

I think a lot of people see online prices and think selling their car is "easy" and that they'll have people fawning all over them to buy their car and it'll be gone in a week. They then spend weeks getting poor offers and if advertising online the "whats the least you'll take m8. Cash" and "£3k and i'll take it off your hands today" messages to field, tyre kickers and dodgy types at your house, being let down by people who say they're coming to see it / will buy it and suddenly a trade offer becomes more appealing.

This. And also the price of advertising that can cost some money.

After, some private put "reasonable" prices, and their car sell fast to "normal" people, avoiding all the hassle... All come to a price: long and annoying, or fast and (slightly) cheaper

[cedrichn]

Mirinjawbro said:

thought id give WBAC a try , even though reviews are bad and you usually only hear the bad ones.


£16,190 offered online

appointed offered £14,144

4 x alloy fixes -£384 ( a few scuffs so ok fine)
1 x service dash light -£451 ( needs a service but not -£451 worth)
2 x body panel fixes - £802 nope - couple of very light dings from shopping
smart repair -£94 nope
admin fee -£75 you already hire someone to input this, why charge an admin fee

So why you don't fix it ? "Can't be bother" ?
For me, it worth much more, because I would assume the car has been neglected, so might hide other stuff...

[golfer19]

dunc_sx said:

Sold a 2007 911 at the weekend (privately) for the price I was asking, got 2 other offers to buy unseen for the full price if the purchaser backed out.

So no dip in price for that sort of car from what I can tell yet.

Dunc.

Edited by dunc_sx on Thursday 5th November 08:42

I did the same last week.
2004 911.
Got my asking price.

[dunc_sx]

golfer19 said:

I did the same last week.
2004 911.
Got my asking price.

Seems like the market is so strong for sporty cars to me.

[jonwm]

I'm personally going to hang on till the spring to look, my lease family wagon goes back Monday and we have bought a mini cooper s (54 plate) for emergency use (picking kids up, wife sometimes goes to the office) as I'm at home now so the wife tends to use my company car. (Tax and fuel are still being paid)

Now rishi dished the money again I think the market will remain strong, my wife's cousin is a self-employed hair dresser and her fella is a self-employed builder, both were genuinely concerned in march and really cut back, since then they have booked holiday to Greece for next year and bought a new kitchen, she's well chuffed she's now got another month off and paid for 3 (albeit 80%) so I think the worry factor is no longer there for many as the expectations are money will be handed to them or they will remain on furlough, I'm sure this will help keep the sales going into next year.

[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.