WBAC offer the lowest prices. They will send the car to private auction

 

I didn't know it at the time but WBAC are actually owned by British Car Auctions.

Yep, the nicer newer cars will go to Main Dealer or prestige auctions. The tin-pots will end up at public auction.

You can get a CAP quote via the vauxhal site for free - https://www.vauxhall.co.uk/offers-finance/value-my-car.html

 

Just stick in some dummy details..

 

Our Rapid Spaceback SE Sport, lost over £10k in 6 months and 3k miles based on WBAC quotes.  They quoted around £8k for it.

You can get a CAP quote via the vauxhal site for free - https://www.vauxhall.co.uk/offers-finance/value-my-car.html

Just stick in some dummy details..

Our Rapid Spaceback SE Sport, lost over £10k in 6 months and 3k miles based on WBAC quotes. They quoted around £8k for it.

Rapids and Toledos depreciate fast.

I was offered a 3 month old 1000 mile ex demo for £10k....list is £15k!

When I was selling my late Uncle's Roomster WBAC offered £2,250 for it. I sold it privately for £4,000.

The biggest hit in a new car's depreciation is in the first year, slowing through the second and third. Most VAG cars are worth 40-50% of their new cost at 3 years old with average mileage.

These days I just don't see one private individual handing over £10K plus to another one private individual. Those days are gone in favour of PCP / PCH / dealer finance.

Would you buy privately for a 5 figure sum? Take a 5 figure bank loan?

Those of us who bought a car the old fashioned way are finding that they're almost worthless a few years later.

I bought a new car for cash and the same dealer made a derisory trade in offer a few years later. Still got it.

Trying PCP and PCH nowadays.

They're different solutions for different people. I bought mine for cash, but then I'll keep mine for five years and it will be worth anywhere between seven and nine grand at that point and it's all equity. I do very few miles and look after my cars. Again, saying one way of financing a car is wrong is rather blinkered. I will probably look at leasing for my next car as I want that for a much shorter period than this one. That's the only rule. If you buy, you need to keep it to sweat the asset and ride the depreciation way to the right where the residual value flattens out.

These days I just don't see one private individual handing over £10K plus to another one private individual. Those days are gone in favour of PCP / PCH / dealer finance.

 

Would you buy privately for a 5 figure sum?  Take a 5 figure bank loan?

In July I sold my previous car privately for £16,500 - it was a 10 year old Audi RS4 (£53,000 new in 2006). Instant bank transfer done online, I waited for the money to appear in my bank account (only took 15 minutes) before doing the paperwork.

 

So there ARE private individuals out there who will spend £10k plus when they find the right car.

Also, with a cash purchase you don't have to pretend to be delighted when the dealer gives you three grand off list price because he's getting commission on the finance deal. Which is why, when I walk into a dealer to buy the same car, he doesn't give me three grand off.

It was never worth list price. Ever.

Edited 29 December, 20169 yr by Mallettsmallett

Hi this may have been covered already but here goes. My friend had just been told his Meteor Grey Vrs petrol manual Octavia is only worth about 15 grand. ( we buy any car.com) - also confirmed by the dealer. He bought it for 27 grand in March of this year and the car has done 4000 miles approx. He bought it on a 0% pcp ad I have also done. Can it really have devalued that much in this short space of time?

 

Your figures give a depreciation of £12000.  But, if you hand the car back now, the actual cost of ownership for 9 months will be:

 

+ Deposit Paid

+ Total of monthly payments

- £15000 value of car

+ cost to pay back the current PCP balance (including fees) - the amount is available from Skoda Finance

 

Depending on the figures, this might be a lot more than £12000.  Hope I'm wrong!