Bye bye 718 Cayman

[churchie2856]

So my 718 Cayman (2.0 PDK) has gone - sold to WBAC today.
Bought new £48.5K ... did 5.3K miles in 15 months ... sold it for £43.1K. (inc fees) Cost per mile £1.01 (excluding insurance (company piad the fuel)).
Of the other bids: 1 month ago, £37K Wizzle; couple of northern OPCs circa £39K. Plus, no interest from two well know Porsche specialist. Ahead of WBAC, I had it up for sale at £42K and not a single call.

My biggest take away from the buying and selling experinece was don't go crazy on the options! OPCs will say "you must spec this and that for resale", but that's really only the case if selling back to them (I doubt £2K of wheels would push their bid up by £2K). If one is selling to WBAC, they don't price based on options (except for PDK).

It was a good fun car and never once did I worry about the sound of the engine or the exhaust.

Anyway enjoy your Porsches - I'm sure I'll be back again.

[CardiffTam]

It would seem you did okay financially for your 15 months of ownership. What are you moving on to?

Edited by CardiffTam on Sunday 17th January 18:51

[anonymous-user]

That’s a pretty cheap ownership experience, according to PH these four pots will depreciate worse than Vauxhalls. Don’t tell me that’s yet another forum myth like the sound nonsense?

Agree you certainly don’t get money back on options. When’s the replacement due?

[interstellar]

I think you have done a great deal there. Trade price is £38000 so you have done really well.

Can’t see them getting their money back even if they put it on cinch and retail it themselves.

[Rojibo]

But-but the forums and youtube comments said these would depreciate faster than a.. a.. fastly depreciating thing.

[churchie2856]

interstellar said:

I think you have done a great deal there. Trade price is £38000 so you have done really well.

Can’t see them getting their money back even if they put it on cinch and retail it themselves.

The WBAC rep' said it wouldn't go to Cinch (too specialist and they can't offer finance on vehicles of that value. Instead it will go to auction and likely a "closed" dealer-only one.

[churchie2856]

CardiffTam said:

It would seem you did okay financially for your 15 months of ownership. What are you moving on to?

Edited by CardiffTam on Sunday 17th January 18:51

Alpina D3 S Touring (due May)

[Mark-ri571]

Good result. You are spot on about options. If you have little to no options WBAC are the way to go. Because my Macan had a good spec I got a much better sale via Wizzle than WBAC or OPCs.

[churchie2856]

interstellar said:

Trade price is £38000 so you have done really well.

What source was that?

[tedblog]

interstellar said:

I think you have done a great deal there. Trade price is £38000 so you have done really well.

Can’t see them getting their money back even if they put it on cinch and retail it themselves.

I thought wbac used trade as their guide?
They make millions every year and no matter what the car they dont pay overs .
They know the market pretty well.

[interstellar]

churchie2856 said:

What source was that?

Cap

[interstellar]

churchie2856 said:

interstellar said:

I think you have done a great deal there. Trade price is £38000 so you have done really well.

Can’t see them getting their money back even if they put it on cinch and retail it themselves.

The WBAC rep' said it wouldn't go to Cinch (too specialist and they can't offer finance on vehicles of that value. Instead it will go to auction and likely a "closed" dealer-only one.

Porsche centres won’t pay 43k for a 15 month old 2.0 at the moment. They would be advertising it at list and it wouldn’t work.

You have had a right result mate, good on you .

[CardiffTam]

churchie2856 said:

Alpina D3 S Touring (due May)

Nice choice

[Holgate86]

I sold my Audi S5 Sportback to WBAC back in 2016 and they gave me a stupid price for it, think it was about £4 or 5k more than the local Audi dealer....ended up after auction, I guess, at a prestige used car dealer for about £500 more than WBAC offered me.

Couldn't really understand the maths, except that WBAC move so many cars that any profit is a profit.

[Trevor555]

A few years back I was offered an R32 Golf in PX.

I had a ring round the dealers who'm I knew wanted that sort of stock, and I got bids all around the £10,000 mark.

WBAC bid £12,500 for it, and only chipped him £50

To this day I've no idea where they went with that.

[interstellar]

I just did a WBAC quote on a similar car and age OP and got bid 38K.

You had a great result!

[churchie2856]

Earlier WBAC offers on my 718:

Back in April 2020 - £39K (when 7 month old, and in Lockdown 1.0). Wasn't looking to sell then, but purely out of interest.
10/12/2020 - £41.3K
20/12/2020 - £42.0K
29/12/2020 - £42.0K
02/1/2021 - £43.3K
15/1/2021 - £43.2K ... Sold (£43.1K inc fees etc)

As others have commented above, I have no idea how WBAC (or a buying dealer) will make a profit on this car. A non-OPC benefits from the fact there is no warranty cost (it has 21 months new car warranty to run), but an OPC potentially has to make this up to 24 months. Also tthe next buyer is facing 1st service in October (which looks to be £800 at an OPC, based on a recent 718 thread).

[JUSTIN3000M]

I have just sold my 2017 Boxster 2.0 PDK with 19000 miles and a month before it was due its 4 year service and MOT. Local Porsche dealer offered £27K saying they would have to spend money to get it through service, WBAC offered £29.5K but are not currently buying due to covid. Went to Evans Halshaw and they offered £31.1K but after taking the car to them got offered £31.5K, they said the condition of the car was very good so upped their offer. This is the second time I have used Evans Halshaw and both times they offered the best price.

[Porsche911R]

no such thing as fixed services btw now

and a 15 month old PDK car with 5kmiles is £48k at an OPC.

so some one will make on that £43k car as you cannot buy a car like that for £43k even though it was a daft high offer it's still a cheap car ie £5k less thanan OPC price.

[sixor8]

tedblog said:

I thought wbac used trade as their guide?
They make millions every year and no matter what the car they dont pay overs .
They know the market pretty well.

They do get their fingers burned occasionally. They supposedly bought a TVR Cerbera a few years ago for £27k (seller bit their hand off). It got punted through several of the BCA auctions (that they are owned by) before selling at a loss. I've tried hard to find a link to any evidence it but can only call it 'anecdotal' at the moment.

My sister got very lowballed by WBAC on a 2013 Focus last summer and shifted it to sellyourcar2jack for more in the end, no admin fee either.