WBAC - Not buying cars now.

[Nickyboy]

Mines dropped nearly £5k although weirdly my old Monaro which i sold last year has gone up nearly £1500

[HTP99]

tumble dryer said:

HTP99 said:

Can't imagine what the issue may be currently, causing the sudden drop off in values and some not buying at all!

I'd say that was a very loud judgement call on the perceived future value of vehicles.

Edited by tumble dryer on Wednesday 18th March 21:21

I wouldn't, it's just that dealers and the car buying companies etc don't want more stock at the moment for obvious reasons, it will pick up again.

[The Cardinal]

I was planning to trade my current car in a few months' time, so I'd been keeping an eye on its valuations at WBAC and other sites.

At 5pm today, WBAC were offering £15k. Now, at 9:30pm, they're offering £10k!

I suspected this would happen, so earlier today I had to pull out of the new car I'd placed a refundable deposit on. Multiply my case by many thousands and you can see why we're all in trouble!

[55palfers]

Been pondering this G Class on at £57K

WBAC coming in at £30K

https://shop.mercedes-benz.co.uk/vehicle-detail/g-...

[M4cruiser]

Nickyboy said:

Mines dropped nearly £5k

Just wondering which planet you guys are on! My car simply wouldn't drop by £5K.

(I bought it 4 years ago for £2,500, and it's still going strong. )

[stevemcs]

M4cruiser said:

Just wondering which planet you guys are on! My car simply wouldn't drop by £5K.

(I bought it 4 years ago for £2,500, and it's still going strong. )

You have more to lose than my £700 Mondeo ....

[V8 Animal]

Sold my 330 a month ago to WBAC got lucky I reckon.
Still have the Carr on my app still in Bournemouth so I guess on a forecourt going nowhere.

[Justhe-1]

Had an eye on a 15 plate Cayenne as next lease delayed.

Check price on WBAC 2 wks ago was £21.5k, same car today - £13,205...!

[Hitch]

Are people really surprised at this?

A couple of obvious points are 1) they'll be getting a lot of calls from people shedding assets so low balling is an opportunistic but profitable strategy, and 2) how many cars do you think they'll sell on at a decent wack whilst the world holds it's breath over the next month or three? General demand on BCA must be through the floor as traders will not want to be holding stock.

[Silenoz]

Same thing happened after the 2008 financial crisis, so no surprise really.

There will be some cracking deals in the next few weeks if you're in a position to buy!

[av185]

Hitch said:

General demand on BCA must be through the floor

Not really.

Strong bids yesterday at BCA just behind Cap clean.

[stevemcs]

Or at the auction we watched briefly today, they were £1000 behind cap

[av185]

Usual story tatty trade stuff with problems will be hit hard.

1 owner 3 year reaonable quality and mileage ex lease stock with md service history are and will be the cars in demand and still command good money.

Folks still need cars and as ever the best stock will command the best money further bolstered by many manufacturers suspending new car production.

[hyphen]

av185 said:

Usual story tatty trade stuff with problems will be hit hard.

1 owner 3 year reaonable quality and mileage ex lease stock with md service history are and will be the cars in demand and still command good money.

Folks still need cars and as ever the best stock will command the best money further bolstered by many manufacturers suspending new car production.

Buyers don't give you the price it may or may not be worth in the future.

People are working from home, lock downs coming. If people are not travelling, demand for car is going to be lowe, and your 1 owner 3 year car is not going to command what you consider as 'good money'

Why don't you go and buy some shares in a company, but don't offer them the current price,but last months...

[InitialDave]

hyphen said:

demand for car is going to be lowe

People are getting robbed?

[Deep Thought]

I did 4 WBAC valuations on cars i was looking at buying in the last 3 weeks and thought i'd click on the links now and see what the prices were like :-

Golf, was £6,120 now offering £5,000

Alfa Guilia was £10,000 now offering £7,000

BMW was £8,500 now offering £6,790

Toyota GT86 was £12,460 now offering £9,600

[Deep Thought]

av185 said:

Usual story tatty trade stuff with problems will be hit hard.

1 owner 3 year reaonable quality and mileage ex lease stock with md service history are and will be the cars in demand and still command good money.

Folks still need cars and as ever the best stock will command the best money further bolstered by many manufacturers suspending new car production.

Yes, the best stock will command the best money but i think the baseline could / will drop 20% so even the best cars will be affected, because they'll be valued from that point not previous market value.

Plus if people are being hit with st trade in prices for their own cars, they may opt not to buy.

I think the market has been buoyant because theres been a swathe of people who have changed their car because they "want" to change it and "just fancy a change", we're now going to be very quickly in to the realms of people only changing because they "need" to change.

[Deep Thought]

Hitch said:

Are people really surprised at this?

A couple of obvious points are 1) they'll be getting a lot of calls from people shedding assets so low balling is an opportunistic but profitable strategy, and 2) how many cars do you think they'll sell on at a decent wack whilst the world holds it's breath over the next month or three? General demand on BCA must be through the floor as traders will not want to be holding stock.

I'm not at all surprised by this, and i dont think too many people are.

BUT its a big indicator as to where the market will go (arguably already has gone).

[HTP99]

Deep Thought said:

we're now going to be very quickly in to the realms of people only changing because they "need" to change.

Which will likely firm up and and may even result in the value of used cars rising.

[anonymous-user]

InitialDave said:

hyphen said:

demand for car is going to be lowe

People are getting robbed?

How are they being robbed? You dont have to sell to WBAC, you know. But if you do, they'll give you the cash for it. Where else are you going to go for it?