62 Plate Value dropped by a grand..

[Hyphons]

Had an email from WeBuyAnyCar to say my valuation has changed, from £4785 to £3785, oh the joys

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[Markyg]

My 63 plate sport is valued between 3.8k to 4.2k via cap. Can't belive how much these depreciate!

[Didescharlie]

Had an email from WeBuyAnyCar to say my valuation has changed, from £4785 to £3785, oh the joys

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Merry Christmas!!!

[dave hendy]

Had an email from WeBuyAnyCar to say my valuation has changed, from £4785 to £3785, oh the joys

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Can't go by the price they quote they offer well below market value! Prices are low at this time of year but they do seem extra low on small cars.

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[masserator]

not helped by the continued 0% finance offers.... makes it cheaper for a new than a 3 year old one.... at least that's my theory! according to various websites, my 63 plate elegance is worth less than my GMFV already, and i still have 18 months left on finance....on the plus side, i cant see it being worth much less than 3.5-4 k at year 3 so depreciation will stop shortly  :peek:

[mannyo]

WBAC will always price lower than auction prices. All the cars they take in are sold at their auction house, and so because everyone wants a profit in the chain the price is low. Also factor in they will deduct money for any defects in paint/bodywork and interior.

WBAC have my A8 down at £1600, but they are selling for £4K easily today which is the same as I paid for it 2 years ago.

Edited 24 December, 2015 by mannyo

[Markyg]

As far as citigos go the wbac prices are similar to trade in values. Obviously retail values are far higher.

[Dr Zoidberg]

WBAC has to be a dire place to sell a high spec citigo. You'd be far better off selling privately where cars like this are in far more demand, and the relatively low price means you aren't relying on finding a buyer who needs part ex and PCP finance.

There's plenty of buyers who can afford to pay cash or get a personal loan from the bank.

[Stormchaser]

I got £4700 for my 13 plate Sport with 20K a year ago. The dealer bought it back off me.

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[fatbelly]

Try Parkers or Glass's for a more accurate valuation

[Ootohere]

What difference does their Valuation make, they are not buying your car or taking the Trade in.

You get what people will pay, and many Sales People and Traders are going at a WBAC valuation, offering less knowing they are covered 

and do not need to send to auction.

 

Parkers and Glass's are just part of the Main Dealership & Manufacturers leasing, DEmonstrators, Management car turn over and TRade in price Kidology and residuals that goes on and has for years.

the Volkswagen Group were masters of it, but the Finance Deals have been Smoke and Mirrors and New cars are over priced 

and discounted and Used Cars need to be cheap or Dealers / Traders can not make profits, or sometimes even shift cars out pf Manufacturers Warranty.

 

If selling Privately you only need one buyer.

If you get more than WBAC is offering or a Trader Offers you are doing good.

The CitigoUp!Mii is not going to make anyone much money trading in over 3 year old ones.

[Citigouk]

From my understanding, companies such as WBAC are owned indirectly by Auction houses. Their values are based on their block prices minus %

 

The real spin for them is their first offer is based on immaculate condition, its not until you are more honest on condition that your value will be former from them

 

Also many woes of people who decide to use this service that when they go to the buying center that the price is chipped away once more , no doubt these people are also on a target of some sort.

 

Back to the original topic of the values, the current VAG situation isnt helping with the emission issue. Skoda get mixed up in it........ even thou the UP!,Mii, Citigo have nothing to do with the issues being claimed.

 

VAG are in a situation where the factory is at production level based on forecast sales across multiple regions, if the sales are not forthcoming they cannot just slow the factory.

 

This will mean more creative margin accounting...... thus no doubt fleet offerings at attractive rates to companies (G4S etc...)

 

So the fleet companies maybe not taking up the 'pepper-corn' option and doing early repalcements as the new offers where better than existing, dropping used stock into the auctions and thus hammering away at the private punters used prices.....

[Ootohere]

http://cityam.com/212549/webuyanycarcom-owner-british-car-auctions-sold-12bn

[randomeclipse]

Why would anyone use WBAC, or similar...

 

Unless you're planning to emigrate in the next fortnight and need a quick sale?

[Lady Elanore]

Dealers use a variety of books to check secondhand values. We used Glass's and the Black Book (CAP), but the Sales Manager would often temper these figures with what he had seen at the auctions and whether the car in question was in demand or not. In my experience in the trade, there is no book that gives you the correct figure, only a guide to a cars value (disclaimer: obviously occasionally the figure concurs with what is thought to be the correct valuation). Whilst at Bauer Millet, I witnessed the owner value several cars that weren't even in any book and using only his judgment he got it spot on virtually every time

[Ootohere]

How long since you were working in these car dealerships Lady Elanore.?

Many do still go by the 'book' / 'books'   well they log on, and type in, (or go make that phone call.)

, and then there is get a sales and get what you have to take in as cheap as you can but thats just as sales have always been.

 

Budget cars out of warranty and not as rare as hens teeth and more offers on a new one means Trade in Value very much is decided 

on what you are going to be signing up for that they can get some money out of, because they will get little on the Citigo.

 

PS

'Bauer Millet' in Manchester shut did it not, went into Administration, 20 people lost their jobs.

Was that maybe the Owners valuations with Trade ins that was partly to blame?

Or the Son not being able to do what his father had been able to.

Edited 29 December, 2015 by GoneOffskiroottoot

[Lady Elanore]

I was chatting with an ex colleague a couple of months ago and he was still moaning about the book prices. OK they now log on to Black Book Live etc, but it's essentially still taken with a pinch of salt. The human element is still essential in eeking out that last bit of profit, besides if the book (on line or not) says 'X' and they think that the similar models they have in stock are not fetching the sales price to correspond to the part ex valuation of 'X' they will automatically use their judgement and ignore the book value (Disclaimer: the book may not be made out of paper).

 

The true trade in value is not decided by what you are buying, the salesman might give an inflated imaginary number that helps you work out the price to change. The dealer will write a (nearly) true value SIV on the paperwork (the nearest figure to the cars true value that the dealer will show you "the figures might look a bit different when we write them down, but the bottom line is the same" is the normal mantra) and unfortunately the VAT man wants his share, so although they would love to value all part-ex cars at £1, they have to show a realistic figure so that the VAT man wont shout at them about.

[Ootohere]

If the car is going right on a trailer and off to auction then the value is still easily figured, and that the Book and what you know for your area you knock off.

and if the car is getting 21 days space and then off to Auction then there is not much different.

 

Car Supermarkets are now struggling as well, the country is running on finance and turn over,

cheap cars are like disposable lighters, not much value after so long.

[Lady Elanore]

Books (paper or not) or just the starting point. I can't see that ever changing unless we go to some version of the new BMW 'Buy online' model.

[Y80]

Why would anyone use WBAC, or similar...

 

Unless you're planning to emigrate in the next fortnight and need a quick sale?

 

I used it to sell my old car, I got low part-ex valuations due to the high tax making it difficult to shift. WBAC met my valuation (with a little haggling to hold them to their website valuation). So there are situations in which it is a useful avenue.

 

Just checked the WBAC valuation for my 62-reg Citigo (~9k miles) - £5k.

Edited 29 December, 2015 by Y80

[Lady Elanore]

I've read on Brisky of people getting the best deal from WBAC. I doubt I would personally use them, but it shows that occasionally they do a good deal.

[randomeclipse]

I used it to sell my old car, I got low part-ex valuations due to the high tax making it difficult to shift. WBAC met my valuation (with a little haggling to hold them to their website valuation). So there are situations in which it is a useful avenue.

 

Just checked the WBAC valuation for my 62-reg Citigo (~9k miles) - £5k.

I see. I guess if they're local or collect the it makes sense too.

[wizzi]

Why would anyone use WBAC, or similar...

 

Unless you're planning to emigrate in the next fortnight and need a quick sale?

 

 

Whilst I didn't sell to them I did use there online valuation to get a better px price on the family car. (main dealer offered 9k against a new one, wbac offered 10500)

[Defenderben]

I stick my number plate into WBAC now and then to gauge the depreciation.

When WBAC offer £25k and you pop into your local VW and they offer the same £25k and promise they are (VW) offering top book, you know they are trying to fleece you.

WBAC has its uses, not everyone wants to sell the car to purchase another car.

My late father's 10 week old car with 200 miles was sold on and not needed to act as a deposit on another.

Must admit I have never witnessed (watching them on the computer in front of me) a trader looking up WBAC before making an offer, they all use CAP or glasses or some other online trade valuation service.

Lady elanor pretty much sums it up as I see it in post #17.

Back to the OP at least losing say £6k over 3 years is not as bad as some of the higher end cars! Jag F type starting around £60k after 18 months and approx 2500 miles sell on at £40k now there's some depreciation

Edited 30 December, 2015 by Defenderben

[randomeclipse]

I think we're all aware of new car depreciation, but for the enjoyment, excitement and affordability of a new car it's an educated choice we make.

 

I for one don't regret my purchases at all.