1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

WBAC Values

Discussion in 'Motors' started by Gibbo, 25 May 2021.

  1. paradigm

    Caporegime

    Joined: 26 Aug 2003

    Posts: 36,850

    Location: Staffordshire

    That's the one thing making me contemplate shifting the 440i, I can use the TT if I need a car whilst the wife is using the Passat. I'm just concerned that the market isn't going to drop back down to "normal" levels due to longer-reaching issues like the "chip shortage". Analysts reckon that could be 9-18 months, and that's far too long to wait before replacing the car!
     
  2. dLockers

    Soldato

    Joined: 21 Jan 2010

    Posts: 5,989

    I think a lot of them aren't going up for much more than sale price, but they're getting wrapped up in lurrvelly 9% APR finance deals.
     
  3. Kenai

    Capodecina

    Joined: 5 Apr 2009

    Posts: 21,537

    There's definitely an element of living in the now to consider alongside potential gains and losses from changing cars at the moment. Like you say, you could 'cash in' and then be sat without for 18 months whilst nothing normalises (and the longer it goes on, the more opportunity there is for it just become normal and not return to the situation as we knew it). Unless you have plans to do something with that cash, arguably it's best tied into a car you're using and enjoying anyway.
     
  4. Tenzo

    Wise Guy

    Joined: 23 Jan 2012

    Posts: 1,300

    I can make a small profit on my RS4, switch to company EV scheme and use the cash to be financially sensible (debt/house move etc).
    If things settle down, look to get a replacement fun car in due course.
    A bit boring really.
     
  5. panthro

    Capodecina

    Joined: 19 Nov 2004

    Posts: 12,034

    Location: Wokingham

    I keep thinking about selling my car as the prices have increased since I started thinking about it at the beginning of the year, but financially I'll be in no better position as the prices have gone up on everything I've been looking at!!
     
  6. support_bae

    Gangster

    Joined: 10 Mar 2009

    Posts: 464

    And sold. Easiest car sale ever. Got paid the full amount minus £75 transaction fee.
     
  7. Gibbo

    Commissario

    Joined: 17 Oct 2002

    Posts: 34,514

    Location: OcUK HQ

    Happy days, good result! :)
     
  8. watercooledman

    Wise Guy

    Joined: 12 Jan 2021

    Posts: 1,301

    the price of cars has shot up so much, buying and selling it seems.
     
  9. pugheaven

    Mobster

    Joined: 22 Apr 2008

    Posts: 3,459

    Location: Bryn Celyn Wales

    Good man yeah be interesting to see what you actually get
     
  10. Gibbo

    Commissario

    Joined: 17 Oct 2002

    Posts: 34,514

    Location: OcUK HQ

    He got full amount, he posted the result above. :p
     
  11. HangTime

    Man of Honour

    Joined: 25 Oct 2002

    Posts: 29,132

    Location: Hampshire

    New cars are getting relatively more attractive, as they aren't going up as much in price as used. So It's still worth cashing in on used cars if you are considering buying new.
    The nearly new sector has no value at all currently, often charging prices no better than a brand new model via a broker
     
  12. thewanted

    Soldato

    Joined: 27 Jul 2007

    Posts: 5,370

    The value it offers is being able to get a car now without a potentially very long waiting period, and the car turning up without some options you ordered because the components aren’t available.
     
  13. pugheaven

    Mobster

    Joined: 22 Apr 2008

    Posts: 3,459

    Location: Bryn Celyn Wales

    Ahhh missed that yeah just checked hahaha. Blimey so win win and good on him. Makes you think now... easy money in a way :) if downgrading, now is the time to do it I think
     
  14. gailjon

    Hitman

    Joined: 10 Nov 2015

    Posts: 858

    That's what I did. Managed to source a new car without the minimum 6 months lead time that I had been quoted, sold to WBAC for a great price. Didn't have car for two days before picking up new one but it was a price worth paying. |Helped that the car I bought has no options available for it except colour! (Sorento PHEV 3)

    It's a pain trying to source a new car at the moment, but at least their prices aren't able to rise like used ones (except perhaps a falling discount amount).
     
  15. HangTime

    Man of Honour

    Joined: 25 Oct 2002

    Posts: 29,132

    Location: Hampshire

    Yeah there's obviously an issue with lead times for some new cars (so probably I should've said 'little' not 'no' value) but depending on what you want there are still discounts available. It will be like, buy a new car at say £7-8k off list price, or buy a used 20/21 plate for £7-9k off.
     
  16. paradigm

    Caporegime

    Joined: 26 Aug 2003

    Posts: 36,850

    Location: Staffordshire

    The problem there usually is that new vehicles have better APR deals than used. So unless you are buying outright in cash, or financing using other methods, you'll be worse off buying the £9k discount "used" vehicle over the £8k discount new.
     
  17. HangTime

    Man of Honour

    Joined: 25 Oct 2002

    Posts: 29,132

    Location: Hampshire

    Sure but I don't think it stacks up even if paying cash. I'd much rather have a new vehicle than 'save' £1k which will be instantly lost on depreciation anyway because the 0 month old car with delivery mileage and 1 owner will be worth more than £1k more on resale than the 12 month old car with 8k miles and 2 owners or whatever.

    The only thing the used car has going for it is it's sat there ready to be picked up rather than potentially having to wait for a new car; once you have the car in your possession, that benefit is lost as you have the newer car immediately available for any prospective buyer and it's just a more attractive purchase for any buyers than the older car.
     
  18. Greebo

    Caporegime

    Joined: 20 Jan 2005

    Posts: 40,223

    Location: Co Durham

    Just got another weekly update on the SQ7 from WBAC. Its gone up another £455 this week on top of the £900 last week so is now £7,455 more than what we paid for it back in November. Has averaged over a £1000 per month increases and is showing no signs of dropping, if anything the monthly increases are getting bigger.
     
  19. Tenzo

    Wise Guy

    Joined: 23 Jan 2012

    Posts: 1,300

    It’s becoming more of case of when judging when the prices will stop, rather than if it makes sense anymore :rolleyes:
     
  20. BongoHunter

    Wise Guy

    Joined: 14 Apr 2014

    Posts: 2,351

    Location: West London

    Interesting - I did a WBAC valuation on my car just before pandemic (2010 320i, 38k, saloon, full leather, heated seats, 20" alloys, bla bla) and having just done another prompted by this thread - it's come back at £500 more this time (£4.5k) - I wouldn't have thought older cars would have been seeing the same increase in demand tbh.

    Not that I'm looking to sell quite yet anyway, I don't think I could get anything nicer in the same condition for 4.5k - but nice all the same!