Will Coronavirus hit used car prices?
Discussion
Auto810graphy said:
Deep Thought said:
Yeah i think its likely car / model specific. M140is are never that popular in the trade so not much of a surprise that its one of the first cars they say no to valuing.
A trader one told me there is never an unpopular car, just one that’s to expensive for the market.Late M140’s should be levelling out on depreciation since they cleared the stock and the new car is seen by some as less desirable.
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
Your average car dealer down the road punting family petrols and diesels isnt going to bid for and buy an M140i at auction because they're typically a slow seller. So for WBAC something like a M140i isnt going to be a dead cert to make money on at auction right now, so why bother - if they only expect to sell say, 50% of the cars they were selling previously, then they may as well be cars theres demand for and are more predictable.
At the retail end of things the right one at the right price will sell - you dont have to firesale them out the door - but you're likely to have to wait on your customer and they'll take longer to sell than say a cooking variant of a Focus or whatever.
That doesnt just apply to M140i, it applies to a lot of performance type stuff and anything thats a bit odd ball.
Edited by Deep Thought on Sunday 15th November 15:38
Edited by Deep Thought on Sunday 15th November 15:40
Gman20 said:
Someone's else has already had this conversation.
The the guy didn't say he knew how they worked he said he had seen bad reviews, but you only hear about the bad experiences so wanted to try for himself.
If he got the dodgy repairs you talk about, even if they could be done at the prices you say, nothing to say they won't come up with some other reason to knock the price down a similar amount, or worse spot the dodgy fixes and decide it's worth even less.
As you say 'we all know how they work' so we won't need to discuss the likelyhood of them paying out full price if you show up with a genuinely mint fully serviced car, because we all know the answer.
But I have sold quite a few to them over the last couple of years, often paying more than private sales would pay for them too. But I make sure they are not dented, wheels are not scuffed, and service light on showing it is overdue. The the guy didn't say he knew how they worked he said he had seen bad reviews, but you only hear about the bad experiences so wanted to try for himself.
If he got the dodgy repairs you talk about, even if they could be done at the prices you say, nothing to say they won't come up with some other reason to knock the price down a similar amount, or worse spot the dodgy fixes and decide it's worth even less.
As you say 'we all know how they work' so we won't need to discuss the likelyhood of them paying out full price if you show up with a genuinely mint fully serviced car, because we all know the answer.
Hence I don't agree with the negativity, if you don't tell them about these things of course they will knock you down.
I have only had them knock me down once, that was Citroen C1 during lockdown, my Mum's car, I had asked the old man if any issues or marks anywhere. "No, it is mint."
Well it wasn't as the front bumper had a scuff on it.
To be honest, £10 rattle can could have hidden it it was so low down, but they knocked off £120 to have it sorted.
But they had offered £550 more than we had advertised it privately, so still better than he was hoping for.
Deep Thought said:
Auto810graphy said:
Deep Thought said:
Yeah i think its likely car / model specific. M140is are never that popular in the trade so not much of a surprise that its one of the first cars they say no to valuing.
A trader one told me there is never an unpopular car, just one that’s to expensive for the market.Late M140’s should be levelling out on depreciation since they cleared the stock and the new car is seen by some as less desirable.
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
Your average car dealer down the road punting family petrols and diesels isnt going to bid for and buy an M140i at auction because they're typically a slow seller. So for WBAC something like a M140i isnt going to be a dead cert to make money on at auction right now, so why bother - if they only expect to sell say, 50% of the cars they were selling previously, then they may as well be cars theres demand for and are more predictable.
At the retail end of things the right one at the right price will sell - you dont have to firesale them out the door - but you're likely to have to wait on your customer and they'll take longer to sell than say a cooking variant of a Focus or whatever.
That doesnt just apply to M140i, it applies to a lot of performance type stuff and anything thats a bit odd ball.
Edited by Deep Thought on Sunday 15th November 15:38
Edited by Deep Thought on Sunday 15th November 15:40
Don’t get me wrong, I love mine but there are tonnes about and they’re getting a bad rep (lots of cheaply modded cars returned to stock and punted on).
Court_S said:
Is it also down to them being so common? With so many strong finance deals BMW seemed to shift a fair number of them.
Don’t get me wrong, I love mine but there are tonnes about and they’re getting a bad rep (lots of cheaply modded cars returned to stock and punted on).
If it were solely down to that then i'd expect WBAC just to have dropped their price back again, rather than decline to offer.Don’t get me wrong, I love mine but there are tonnes about and they’re getting a bad rep (lots of cheaply modded cars returned to stock and punted on).
Deep Thought said:
Court_S said:
Is it also down to them being so common? With so many strong finance deals BMW seemed to shift a fair number of them.
Don’t get me wrong, I love mine but there are tonnes about and they’re getting a bad rep (lots of cheaply modded cars returned to stock and punted on).
If it were solely down to that then i'd expect WBAC just to have dropped their price back again, rather than decline to offer.Don’t get me wrong, I love mine but there are tonnes about and they’re getting a bad rep (lots of cheaply modded cars returned to stock and punted on).
Court_S said:
Deep Thought said:
Court_S said:
Is it also down to them being so common? With so many strong finance deals BMW seemed to shift a fair number of them.
Don’t get me wrong, I love mine but there are tonnes about and they’re getting a bad rep (lots of cheaply modded cars returned to stock and punted on).
If it were solely down to that then i'd expect WBAC just to have dropped their price back again, rather than decline to offer.Don’t get me wrong, I love mine but there are tonnes about and they’re getting a bad rep (lots of cheaply modded cars returned to stock and punted on).
I think in recent previous pages they have refused to offer on some other cars too so not just M140is.
It could well be models they're expecting to drop sharply soon.
I'm in the market for a couple of Italian classics from the 60s. I thought that wise investors, nervous about the stock and housing market, and wanting to avoid capital gains taxes would bolster up the market, but I think I'm wrong. I'm looking at the 50 to 70K price category and and it is there that prices seem to be dropping. So I'll continue to look, but be in no rush to part with my cash.
Super rare and super pricey stuff will probably continue to rise. Everything else seems to be dropping.
Are there any classic car dealers here who can confirm?
Super rare and super pricey stuff will probably continue to rise. Everything else seems to be dropping.
Are there any classic car dealers here who can confirm?
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.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
And why isn't the M140i that popular? I thought they'd always had great reviews.
Vroomer said:
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.
Finite number of buyers, people are picky about spec / colour combo, risk of having been abused / badly modded, perceived as harder to run than say a 2.0 litre.And why isn't the M140i that popular? I thought they'd always had great reviews.
The first three apply to all performance hatchbacks.
Just take longer to sell i guess and wouldnt by typical forecourt stock.
Vroomer said:
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.
From discussions I've heard around workplace etc, for all the same reasons enthusiasts like them.And why isn't the M140i that popular? I thought they'd always had great reviews.
RWD not 4wd
3.0 straight six not a 2.0 four (and assosciated costs)
Seems the majority of buyers today (in this corner of the market) want their mega hatch to be 4wd with 300bhp and an auto gearbox so they can just plant their foot and let the car deal with it especially once they've spent their £400 on a remap and additional 80bhp.
If you're trying to sell a manual M135i/M140i in particular its a very small market of buyers.
Edited by andburg on Monday 16th November 12:23
mundo-kombi.com said:
I'm in the market for a couple of Italian classics from the 60s. I thought that wise investors, nervous about the stock and housing market, and wanting to avoid capital gains taxes would bolster up the market, but I think I'm wrong. I'm looking at the 50 to 70K price category and and it is there that prices seem to be dropping. So I'll continue to look, but be in no rush to part with my cash.
Super rare and super pricey stuff will probably continue to rise. Everything else seems to be dropping.
Are there any classic car dealers here who can confirm?
I'm after a particular model of 1930's classic British, there were half a dozen available in March, and now the only example is a pile of rust with the chassis plate, engine plate and paperwork attached.Super rare and super pricey stuff will probably continue to rise. Everything else seems to be dropping.
Are there any classic car dealers here who can confirm?
There's a less desireable model available, but priced at more than those I was interested in were asking back in March.
https://www.autocar.co.uk/car-news/industry/indust...
Surprised that even the motoring press are publishing articles with a bearish outlook for the coming period. I didn't realise repossessions had been banned until 31st Jan.
Surprised that even the motoring press are publishing articles with a bearish outlook for the coming period. I didn't realise repossessions had been banned until 31st Jan.
gizlaroc said:
Because he is trading into WBAC. We all know how they work, so play the game.
The guy said he knew how they work. Hence, why not get the bits done?
Dent man £100, cheap alloy refurb for selling £160, service at a local place or even kwikfit £100.
£360
Better than £1733 from WBAC.
it didn't need the work. the 3 "dents" and body panels that need fixing are tiny little bumps. The guy said he knew how they work. Hence, why not get the bits done?
Dent man £100, cheap alloy refurb for selling £160, service at a local place or even kwikfit £100.
£360
Better than £1733 from WBAC.
the only work it needs is a couple of alloy scuffs and the service.
Mirinjawbro said:
gizlaroc said:
Because he is trading into WBAC. We all know how they work, so play the game.
The guy said he knew how they work. Hence, why not get the bits done?
Dent man £100, cheap alloy refurb for selling £160, service at a local place or even kwikfit £100.
£360
Better than £1733 from WBAC.
it didn't need the work. the 3 "dents" and body panels that need fixing are tiny little bumps. The guy said he knew how they work. Hence, why not get the bits done?
Dent man £100, cheap alloy refurb for selling £160, service at a local place or even kwikfit £100.
£360
Better than £1733 from WBAC.
the only work it needs is a couple of alloy scuffs and the service.
That was all I was saying.
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
Quoting again for me also.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
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
19-Nov-20 £20,790
Definitely seems to have peaked....
Fast Bug said:
Deep Thought said:
Definitely seems to have peaked....
Or they won't get it through the auction until late November at best and December is usually a quiet time in the motor trade with dealers buying less stockWill be interesting to see what happens in January.
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