Sadly selling due to crisis

Sadly selling due to crisis

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Discussion

Deep Thought

26,081 posts

150 months

Thursday 26th March
quotequote all
DickyC said:
With their name WBAC are stuck with buying. If they don't want to buy they must be compelled to make rubbish offers.
They have a holding page now when you do valuations saying they are not currently buying cars.

DickyC

37,265 posts

151 months

Thursday 26th March
quotequote all
Deep Thought said:
DickyC said:
With their name WBAC are stuck with buying. If they don't want to buy they must be compelled to make rubbish offers.
They have a holding page now when you do valuations saying they are not currently buying cars.
That would explain it, thanks.

WE ARE NOT CURRENTLY BUYING ANY CARS

It's ruined their jingle.

nickfrog

11,759 posts

170 months

Thursday 26th March
quotequote all
Redlake27 said:
It's a tough market to sell in and I'm reluctant to move on price, so I'm including 12 toilet rolls in the boot to double the value.
Interested if they are 3 ply and Aloe Vera scented.

Deep Thought

26,081 posts

150 months

Thursday 26th March
quotequote all
DickyC said:
Deep Thought said:
DickyC said:
With their name WBAC are stuck with buying. If they don't want to buy they must be compelled to make rubbish offers.
They have a holding page now when you do valuations saying they are not currently buying cars.
That would explain it, thanks.

WE ARE NOT CURRENTLY BUYING ANY CARS

It's ruined their jingle.
lol.

Its annoying as it still lets you plug in all your details then at the valuation page puts up a message.

gizlaroc

14,640 posts

177 months

Thursday 26th March
quotequote all
lyonspride said:
There will be A LOT of nearly new cars out there soon in the prestige end of the market, which the drivers could no longer afford the finance due to coronavirus.
Depends how long this goes on.

Most are giving 6 months holiday now. So nothing to pay for 6 months at all.

The last thing they want is the car market to collapse, so better to freeze £billions of payments in the hope it doesn't.

Saweep

4,890 posts

139 months

Thursday 26th March
quotequote all
gizlaroc said:
lyonspride said:
There will be A LOT of nearly new cars out there soon in the prestige end of the market, which the drivers could no longer afford the finance due to coronavirus.
Depends how long this goes on.

Most are giving 6 months holiday now. So nothing to pay for 6 months at all.

The last thing they want is the car market to collapse, so better to freeze £billions of payments in the hope it doesn't.
I wonder what impact these holidays will have on credit reports and GFVs?

Anyone know?

So

17,764 posts

175 months

Thursday 26th March
quotequote all
Saweep said:
I wonder what impact these holidays will have on credit reports and GFVs?

Anyone know?
I have had it from Lombard and Lloyds that credit reports will be unaffected.

OddCat

1,654 posts

124 months

Thursday 26th March
quotequote all
It's funny really. Was reading earlier about possible action being taken against people / businesses trying to profiteer from the crisis by putting up prices of certain things. The demand having outstripped the supply.

But everyone thinks it's okay to try and 'bag a bargain' by making low ball offers to distressed sellers of motor cars. The supply having exceeded the demand. Hmmmm.....

Lincsls1

1,367 posts

93 months

Thursday 26th March
quotequote all
clio007 said:
Its possible to sell a car in the current climate.

If its cheap it will still sell. Money transferred into your account and car picked up by recovery truck.

I would hazard a guess that a 50k car might need to be 35-40k for somebody take on that risk.
Is it likely for you to be able to get a recovery firm to collect a car for you with the current restrictions?

mike74

1,821 posts

85 months

Thursday 26th March
quotequote all
Numerous cars that I've been monitoring on Ebay that have been for sale, some for 6 months or more, at stupid prices all still recently getting re-listed, yet again still for the same stupid prices.

Not seeing any signs of a fire sale just yet.

(Unfortunately)

Pvapour

8,704 posts

206 months

Friday 27th March
quotequote all
Taking advantage of another persons situation is the business model for a capitalist country!
This situation is no different, taking advantage of people who couldn’t afford those cars in the first place? Lesson learnt for them maybe? probably not, where are the 6 month financial cushions needed that 2008 taught? No, didn’t think so..

Watching for a gen 3 Bentley myself..

paua

1,638 posts

96 months

Friday 27th March
quotequote all
Had to sell my 993 late January, hadn't been paid for a month, Oct & Nov were also not without problem. Now, 2 months on, still no cashflow ( despite contract & deliveries in the interim - food exports to China ), car would now be unsaleable as we're in lockdown (NZ). Winter is coming.

OddCat

1,654 posts

124 months

Friday 27th March
quotequote all
Pvapour said:
Taking advantage of another persons situation is the business model for a capitalist country!
Agreed. So what's this about then ?
hTTps://www.independent.co.uk/news/uk/politics/cor...

Stuart70

1,914 posts

136 months

Friday 27th March
quotequote all
OddCat said:
It's funny really. Was reading earlier about possible action being taken against people / businesses trying to profiteer from the crisis by putting up prices of certain things. The demand having outstripped the supply.

But everyone thinks it's okay to try and 'bag a bargain' by making low ball offers to distressed sellers of motor cars. The supply having exceeded the demand. Hmmmm.....
Willing buyer and willing seller. Sadly, in these times there will be those who need the cash flow more urgently than the best price.
Each is free to make their call. I think that is slightly different to gouging on toilet roll and antibac.

Other opinions may vary...

Redlake27

2,246 posts

197 months

Friday 27th March
quotequote all
nickfrog said:
Redlake27 said:
It's a tough market to sell in and I'm reluctant to move on price, so I'm including 12 toilet rolls in the boot to double the value.
Interested if they are 3 ply and Aloe Vera scented.
I'd do the deal, but Vera is quarantined next door.

Vroomer

1,463 posts

133 months

Friday 27th March
quotequote all
DickyC said:
Deep Thought said:
DickyC said:
With their name WBAC are stuck with buying. If they don't want to buy they must be compelled to make rubbish offers.
They have a holding page now when you do valuations saying they are not currently buying cars.
That would explain it, thanks.

WE ARE NOT CURRENTLY BUYING ANY CARS

It's ruined their jingle.
So WBAC is now WANC BAC?

Stuart70

1,914 posts

136 months

Friday 27th March
quotequote all
Vroomer said:
DickyC said:
Deep Thought said:
DickyC said:
With their name WBAC are stuck with buying. If they don't want to buy they must be compelled to make rubbish offers.
They have a holding page now when you do valuations saying they are not currently buying cars.
That would explain it, thanks.

WE ARE NOT CURRENTLY BUYING ANY CARS

It's ruined their jingle.
So WBAC is now WANC BAC?
“We are not currently buying any new cars”.

The acronym suggests that their company mission statement may have changed...

VonSenger

2,078 posts

142 months

Friday 27th March
quotequote all
MB140 said:
Greshamst said:
MB140 said:
KungFuPanda said:
MB140 said:
Pre approved with first direct (I do all my banking through them) 3.3% is higher than I’m currently paying on the m135i (2.7%)

I would be putting my m135i in and saving (£10k ish).

So there are cheap loans out there. My bank know what I do for a living. I can’t default on a loan. It’s not possible. They will come to my employer and claim it at source.
What loan agreement would allow the bank to go directly to your employer if you defaulted?
Armed forces. Your not allowed to have unpaid debt it brings the Air Force in my case in to disrepute. If you fail to pay debts and they approach your chain of command a) you end up in big poo with the chain of command. Secondly they will just pay it for you straight out your wages. (Up to 3 days pay per month they can take.

Not so common these days for it to happen but it does happen.


Edited by MB140 on Wednesday 25th March 19:12
I’ve seen plenty of defaults registered to armed forces bases. Like a lot. Military base on your credit file always brings up a whole heap bad credit
I don’t live on the base. So my credit rating isn’t based on it. I’ve completed 22 years never missed a payment on anything in my life. My point was that they can collect the debt at source if they want to.
No they can't.

Child Maintenance used to be a customer of my old company. We struggled for 5 years to get the legislation and more importantly the infrastructure to organise deduction at source for non resident partners. This is not possible for creditors unless it's a manual, prearranged direct debit from the employer to the creditor. Which would just be odd and unheard of.

Pvapour

8,704 posts

206 months

Friday 27th March
quotequote all
OddCat said:
Pvapour said:
Taking advantage of another persons situation is the business model for a capitalist country!
Agreed. So what's this about then ?
hTTps://www.independent.co.uk/news/uk/politics/cor...
If you cant see the difference then theres little point in me taking the time to explain it.

OddCat

1,654 posts

124 months

Friday 27th March
quotequote all
Pvapour said:
If you cant see the difference then theres little point in me taking the time to explain it.
Well that's a blessing