EVs... no one wants them! (Vol. 2)
Discussion
TheBinarySheep said:
WBAC price for the one that's for sale is £15,480. So you've lost £7k in depreciation based on that figure as you'd never be able to sell for £22k if that's what dealers are selling them for.
WBAC price is the bottom trade in price, dealers ask much more on the forecourt. It's owned by British Car Auctions and won't pay good money for it to through an auction hall. sixor8 said:
TheBinarySheep said:
WBAC price for the one that's for sale is £15,480. So you've lost £7k in depreciation based on that figure as you'd never be able to sell for £22k if that's what dealers are selling them for.
WBAC price is the bottom trade in price, dealers ask much more on the forecourt. It's owned by British Car Auctions and won't pay good money for it to through an auction hall. Tried it myself once, filled out the forms and described it very accurately the car the price was low but I needed a quick low hassle sale.
Took it there and the guy touched some kind of spring loaded pen on the bonnet and from that declared the car had been resprayed. He was also listing scratched that were clearly below their size criteria. So reduced the offer by around 20%
That was too much so I went to walk away so he tried offering a free same day money transfer to seal the deal - because normally if you actually want the money for the car the same week there is a fee!
Buzz84 said:
You won't even get the price they quote, when you actually take the car to them they will come up with several additional things and lower their offer when you take the car to them.
Tried it myself once, filled out the forms and described it very accurately the car the price was low but I needed a quick low hassle sale.
Took it there and the guy touched some kind of spring loaded pen on the bonnet and from that declared the car had been resprayed. He was also listing scratched that were clearly below their size criteria. So reduced the offer by around 20%
That was too much so I went to walk away so he tried offering a free same day money transfer to seal the deal - because normally if you actually want the money for the car the same week there is a fee!
Thankfully no one has to deal with WBAC. More often than not Wowcars and Motorway offer significantly more as well as a mostly pain free transaction.Tried it myself once, filled out the forms and described it very accurately the car the price was low but I needed a quick low hassle sale.
Took it there and the guy touched some kind of spring loaded pen on the bonnet and from that declared the car had been resprayed. He was also listing scratched that were clearly below their size criteria. So reduced the offer by around 20%
That was too much so I went to walk away so he tried offering a free same day money transfer to seal the deal - because normally if you actually want the money for the car the same week there is a fee!
sixor8 said:
TheBinarySheep said:
WBAC price for the one that's for sale is £15,480. So you've lost £7k in depreciation based on that figure as you'd never be able to sell for £22k if that's what dealers are selling them for.
WBAC price is the bottom trade in price, dealers ask much more on the forecourt. It's owned by British Car Auctions and won't pay good money for it to through an auction hall. Swoll is doing his calculations based on being able to sell his car privately at trade prices. Private sellers can't get trade prices as they can't offer finance, warranty etc. More to the point, a trader won't even get that price as a buyer will haggle.
WBAC is rock bottom but the easiest way out of a car next to trade in, which will be about the same. Realistically he'd probably get anywhere from 17-20 for it if he was to put some work in to getting rid so the realistic depreciation is higher. Not that any of this matters as Swoll seems happy with it.
Buzz84 said:
You won't even get the price they quote, when you actually take the car to them they will come up with several additional things and lower their offer when you take the car to them.
Tried it myself once, filled out the forms and described it very accurately the car the price was low but I needed a quick low hassle sale.
Took it there and the guy touched some kind of spring loaded pen on the bonnet and from that declared the car had been resprayed. He was also listing scratched that were clearly below their size criteria. So reduced the offer by around 20%
That was too much so I went to walk away so he tried offering a free same day money transfer to seal the deal - because normally if you actually want the money for the car the same week there is a fee!
Yep, they're a clown show and anyone who honestly thinks their valuations should be used as a true measure of a cars value is an idiot. They only exist to serve the desperate and ill informed.Tried it myself once, filled out the forms and described it very accurately the car the price was low but I needed a quick low hassle sale.
Took it there and the guy touched some kind of spring loaded pen on the bonnet and from that declared the car had been resprayed. He was also listing scratched that were clearly below their size criteria. So reduced the offer by around 20%
That was too much so I went to walk away so he tried offering a free same day money transfer to seal the deal - because normally if you actually want the money for the car the same week there is a fee!
We've used Motorway previously when looking to dump a car quickly, their valuations are usually considerably better as you are selling the car to a dealer rather than it's lowest auction price as with WBAC.
We valued our car with motorway when we bought it (£21k), and appreciate we paid £1500 more than that for the peace of mind and additional prep work done due to it being bought from a dealer.
Today motorway values it at £18k, so a £3k drop like for like. Plan on keeping it for another 2 years and selling when it's 6.5 years old with about 75k on the clock as will still be usefully short of the 8 year/100k mile battery warranty expiring.
If the depreciation trend continues it'll be worth £11.5k to motorway at that point, so we'll have lost £11k in 3 years if looking to shift it on quickly and easily. I'd be very happy with that after buying a car that lost £50k+ in its first 3 years.
You can argue the numbers, but buying and selling cars from the trade involves a Buy/Sell spread.
It's how the thousands of traders and businesses make a living.
You can only avoid it by buying and selling bangers and sheds privately.
Or by keeping a car so long it's worth zero or you've forgotten what you paid for it.
The buy/sell spread from 20-odd £k to trade in value can equate to quite a lot of lease payments.
It's the way of the world, has been since the first car got traded in.
It's how the thousands of traders and businesses make a living.
You can only avoid it by buying and selling bangers and sheds privately.
Or by keeping a car so long it's worth zero or you've forgotten what you paid for it.
The buy/sell spread from 20-odd £k to trade in value can equate to quite a lot of lease payments.
It's the way of the world, has been since the first car got traded in.
p1stonhead said:
I can t imagine anyone, who has a weekend ICE to get that fix, and an EV daily would ever go back to ICE for their daily.
My 595 goes on Friday, but I know that when I next get a fun car, it will hopefully never need to be pressed into action for my commute. Driving the family Kuga on the weekend was miserable. Slow as molasses (it's never felt like the 180hp/300 lb ft it purports to have) and changing gear or putting it into neutral to come to a stop is such an archaic faff when you're doing anything but enthusiastic driving. sixor8 said:
WBAC price is the bottom trade in price, dealers ask much more on the forecourt. It's owned by British Car Auctions and won't pay good money for it to through an auction hall.
It is, but in my experience even dealer PX offers are in the same ball-park range. So for me WBAC gives a decent ball park. It's certainly more accurate than using the for sale price you see in Autotrader, which you'll never get close to. If you sell privately than you might get somewhere between the WBAC price and the dealer price.I've taken one car to WBAC, got exactly what I was quoted on the website.
SE2 said:
p1stonhead said:
I can t imagine anyone, who has a weekend ICE to get that fix, and an EV daily would ever go back to ICE for their daily.
My 595 goes on Friday, but I know that when I next get a fun car, it will hopefully never need to be pressed into action for my commute. Driving the family Kuga on the weekend was miserable. Slow as molasses (it's never felt like the 180hp/300 lb ft it purports to have) and changing gear or putting it into neutral to come to a stop is such an archaic faff when you're doing anything but enthusiastic driving. I like going to work in a manual ICE car, I enjoy the process of driving wherever I go. I enjoy the interaction, even at low speeds. I have automatic cars too, which are fine, but not as engaging. I ll be going into work soon in a GR86, mainly 30/40, a bit of motorway, I m looking forward to the drive. I certainly don’t see it as an archaic faff, it’s fun.
TheBinarySheep said:
sixor8 said:
WBAC price is the bottom trade in price, dealers ask much more on the forecourt. It's owned by British Car Auctions and won't pay good money for it to through an auction hall.
It is, but in my experience even dealer PX offers are in the same ball-park range. So for me WBAC gives a decent ball park. It's certainly more accurate than using the for sale price you see in Autotrader, which you'll never get close to. If you sell privately than you might get somewhere between the WBAC price and the dealer price.I've taken one car to WBAC, got exactly what I was quoted on the website.
WBAC horror stories are widespread, and their valuations are horrendous before you even start with the "haggling". As above, Motorway usually offer better valuations and service if you're looking to get rid of a car quickly with little effort.
andrewpandrew said:
Our Honda e has been invaluable in the frequent power cuts we get! Got a travel kettle too so we can boil water for a brew.
To be honest I’d rather have some energy security in place, rather than shutting all ours down early, until renewables are much much further down the line, and have my toast and cup of tea in my living room.ITP said:
To be honest I d rather have some energy security in place, rather than shutting all ours down early, until renewables are much much further down the line, and have my toast and cup of tea in my living room.
Yeah, all I'm saying is that having an EV in a power cut is often pretty useful. Energy security isn't going to stop the near weekly power cuts we experience because we live in a village built on ancient infrastructure, or the framer up the roads trees interfering with overhead lines.andrewpandrew said:
ITP said:
To be honest I d rather have some energy security in place, rather than shutting all ours down early, until renewables are much much further down the line, and have my toast and cup of tea in my living room.
Yeah, all I'm saying is that having an EV in a power cut is often pretty useful. Energy security isn't going to stop the near weekly power cuts we experience because we live in a village built on ancient infrastructure, or the framer up the roads trees interfering with overhead lines.MightyBadger said:
You might as well say home energy price hikes and blackouts might make people not want EVs lol.
Petrol is between 2x and 12x as expensive as home electric, per mile, depending on tariff and on tax efficiency of BIK treatment. Doubling petrol costs is a lot more painful than doubling electricity costs.Gassing Station | Car Buying | Top of Page | What's New | My Stuff