Kind of a meaningless point I know, but purely out of interest I looked at the value of a VRS petrol manual estate on webuyanycar, if you drove it off the forecourt, decided you didn't like it, and took it straight to webuyanycar and sold it. For a car with a list price of about £29k, guess what the "value" is....?

...

...

...

...

...

...

...

...

...

...

...

...

...

...

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...£15k!!!!!!

 

OK, no-one would ever do that (!!), but my god that would be some depreciation to swallow!!

 

It shows how much second-hand values factor in the huuuuuge discounts you can get when buying new. 

This is why I am sticking with 2 year PCH deals from now on unless someone comes up with something extremely worth my while.

I looked up my previous car on webuyanycar.  A 22 year old Nissan Primera.  They offered me £50 but in the small print it said 'This transaction carries a surcharge of £45.50'.  You'll understand why I didn't proceed.

It’s going to lose nearly £6000 straight away in VAT...

 

If you put an brand new or almost brand new car in WBAC it gives you silly prices as it doesn’t always work properly.

 

I have tried it randomly on a few cars in Autotrader on their site and it is wholly inaccurate .

 

There is no way on earth a £29k car will devalue by more than 50% taking it off the forecourt. More like a £4 or £5k

 

 

Edited 28 February, 20197 yr by Defenderben

2 minutes ago, Defenderben said:

 

There is no way on earth a £29k car will devalue by more than 50% taking it off the forecourt. More like a £3 or £4K.

Way more than £3 or 4k when main dealers are selling pre-reg for £23k (10 miles on the clock) why would anyone give you £25 or £26k for it? 

 

If you get the right broker, you can get a new one for less than £22k. 

 

So £15k may not be too far off!!! Sell at auction for (say) £2k profit, that's £17k, dealer then marks up to £20k for retail, add some VAT, and you're not far off the pre-reg, or buying from a broker prices. 

 

Mad, but as I said originally, it reflects the ridiculous nature of the "list" price, when such heavy discounts are available if you look into it. But pity someone who pays list and then chops it in early doors!!

You are comparing against RRP, who pays RRP for their car? Especially with a common model such as the Octavia.

 

Rare cars actually not too bad. My Nissan Leaf EV was bought for £9100 at main dealer, WBAC quotes £8600 after 1 year, 10k miles of ownership. Demand for EV are on the rise, yet cheap and cheerful EV are few and far in between, so WBAC are actually paying close to dealer price for those.

I got mine valued on WBAC a week or so ago (just for sh1ts & giggles).  I was pleasantly surprised tbh.

 

I paid £9K for it a year ago (just over 4 years old, 76K miles), WBAC gave me a price of around £7.6K which is only a little lower than the cheapest example I could find on Autotrader (although they didn't have some of the options that are on mine) but still enough to clear the outstanding finance

15 hours ago, Brackett said:

Kind of a meaningless point I know, but purely out of interest I looked at the value of a VRS petrol manual estate on webuyanycar, if you drove it off the forecourt, decided you didn't like it, and took it straight to webuyanycar and sold it. For a car with a list price of about £29k, guess what the "value" is....?

...

...

...

...

...

...

...

...

...

...

...

...

...

...

...

...£15k!!!!!!

 

OK, no-one would ever do that (!!), but my god that would be some depreciation to swallow!!

 

It shows how much second-hand values factor in the huuuuuge discounts you can get when buying new. 

 

 

My 17 plate was worth £16,500 a month ago on WBAC, so wouldn't trust the numbers on a new car.

 

I actually used WBAC when I bought my new car back in November.

I had a 2011 plate vRS, 105k miles on the clock but most annoying, Inlet Manifold error codes that were causing warning lights every other start-up on the car.

Overall condition wasn't bad, but stone chips at front, small dent just below rear spoiler from a reversing accident.

 

Main dealership offered my £4k as trade-in against car in signature (I'd cleared the error codes before they looked around).

Went to WBAC and they were offering £4700 on the app - knew it wouldn't stay there, but felt it was worth a punt.

Drove to WBAC Mansfield (about 3 miles from the Main Dealership) and cleared the codes. They took a look around and we did a little haggle and I accepted £4500 (that was after all fees, so that was in my pocket). Did opt for fast payment and I received it into my bank about 5 days later.

The only drawback was the 3 mile walk from WBAC to main dealership

 

I know I could probably have got more from a private sale, however my conscience wouldn't allow me to clear codes and privately sell - didn't mind so much to a company who would be able to get it repaired/sorted for a lot less than a private buyer.

3 hours ago, Russ77 said:

I got mine valued on WBAC a week or so ago (just for sh1ts & giggles).  I was pleasantly surprised tbh.

 

I paid £9K for it a year ago (just over 4 years old, 76K miles), WBAC gave me a price of around £7.6K which is only a little lower than the cheapest example I could find on Autotrader (although they didn't have some of the options that are on mine) but still enough to clear the outstanding finance

Bear in mind the price they offer is seldom the price they pay after inspection.

 

Even on, say, a ten year old car they'll make deductions for things like stone chips on the bonnet (show me a ten year old car without stone chips and I'll give you the deeds to my wife's dolls house).

17 hours ago, Brackett said:

Kind of a meaningless point I know, but purely out of interest I looked at the value of a VRS petrol manual estate on webuyanycar, if you drove it off the forecourt, decided you didn't like it, and took it straight to webuyanycar and sold it. For a car with a list price of about £29k, guess what the "value" is....?

 

...£15k!!!!!!

 

It shows how much second-hand values factor in the huuuuuge discounts you can get when buying new. 

 

The interest I have with this is how confused people seem to be between a car's value and what one person offers. The two are unrelated. If I were to offer you a £1 does that mean to say the car's worth £1?  Or if the supplying dealer were to offer £22k to buy the car which you've just driven off their forecourt, does that mean the car's value is £22k?

 

Just as the price of a car is what you've actually paid for it, it's used value is what you sell it for, not what one person offers or what the advertised price is.

 

WBAC is owned by British Car Auctions and the prices they offer are based on the price similar cars sell for thru their auction sites. (Prices fluctuate from week to week - the price they offer can go up as well as down).   I'm not quite sure how BCA can in anyway determine an accurate figure for such a car because delivery mile cars don't go thru their auctions, or at least it'd be vary rare for any such car to be offered in their general public sale. If you were to provide the details of a year old car with an average 10k on the clock, a full service history and in A1 condition, you may just find WBAC offers you more money.

 

 

Edited 1 March, 20197 yr by Guest

2 hours ago, Scot5 said:

WBAC is owned by British Car Auctions and the prices they offer are based on the price similar cars sell for thru their auction sites. (Prices fluctuate from week to week - the price they offer can go up as well as down).   I'm not quite sure how BCA can in anyway determine an accurate figure for such a car because delivery mile cars don't go thru their auctions, or at least it'd be vary rare for any such car to be offered in their general public sale. If you were to provide the details of a year old car with an average 10k on the clock, a full service history and in A1 condition, you may just find WBAC offers you more money.

 

 

Just out of curiosity I pumped in my car reg (Focus ST3, August 2016 plate with 13,500 miles) and it came back with an offer of £14,385.

 

Didn't ask me about the style pack and sat-nav I'd specced as optional extras (maybe they don't affect residuals).

 

To compare, Ford's valuation tool puts it at £15,480.

2 hours ago, SkodaVRS1963 said:

Just out of curiosity I pumped in my car reg (Focus ST3, August 2016 plate with 13,500 miles) and it came back with an offer of £14,385.

 

Didn't ask me about the style pack and sat-nav I'd specced as optional extras (maybe they don't affect residuals).

 

To compare, Ford's valuation tool puts it at £15,480.

Options are not taken into account whatsoever on WBAC type sites; all they want is number of owners, mileage and service history. My last car had £3k worth of extras and they all offered the same amount as a standard car of same age, mileage.

 

‘Lots of dealers really push their resale prices based on some of the desirable options, just like this in the description,pushing the value of extras etc (my old car btw) 

 

https://www.autotrader.co.uk/classified/advert/201902285401315?aggregatedTrim=R&model=GOLF&year-from=2015&quantity-of-doors=5&radius=1500&onesearchad=Used&onesearchad=Nearly New&onesearchad=New&transmission=Manual&sort=sponsored&advertising-location=at_cars&make=VOLKSWAGEN&postcode=pl198rd&year-to=2015&page=4

 

Not being rude but if the OP truly believes a new car loses 50% from leaving a forecourt they will be looking for a  car with that amount of depreciation for a long time.

 

The average loss for taking a car off the forecourt is 20% and very few people pay RRP.

 

Lots of cars (VW Golf for example) will retain 48% of its value at 3 years old, so not sure where the OP has seen nearly new cars at 50% off at auctions.

 

I recently bought a nice spec VW polo the dealer sold it for £14,280.00 to the first buyer. I grabbed it @ 3days old with the full 28 miles on the clock for £12,450.00. Don’t see any 50% discount there But nearly £2k was welcomed by me.

Prices are skewed on new cars on those kinds of sites anyway. The arnokd clark one is still offering just under £14k on my 2016 plate VRS TSI. By that very rationale theres a 50% loss the day you buy it and then only 1/15th depreciation over the next three years. In reality they dont want nearly new cars. 

 

Mind you, if depreciation is something that keeps you up all night then buying cars might not be the best game for you.

 

Mines sat outside plummeting like a stone since new. My last one did the same. I got £2.5k back for a deposit on my last PCP but I wasnt expecting it. Im inside, having a beer, not giving a ****!

 

The only private owners that would sell a mainstream car nearly new are "distressed" owners in trouble needing a quick sale for the cash, or just wanting to get shut.

 

WBAC will offer an appropriate price.

 

And as pointed out the starting price for depreciation is the price paid and not the price asked. So for a Skoda, try carfile.net, price it with no options then take off any incentives Skoda are offering, giving you £23,000 as the new price

 

https://www.carfile.net/buy-your-car/skoda/octavia_estate/20_tsi_245_vrs_5dr_[black_pack]/87489.html

An interesting thread, having purchased a tax free 245VRS with a few options in Dec and awaiting delivery in UK in next week or so (fingers crossed) and a return visit to collect. Personally would never buy new and have always bought s/h 3/4 year old cars. Now with 3 years out in Germany the plan is to buy keep for a year and hopefully at least break even or take a minimum hit to drive a new car for a year and then buy something new again to replace. I have also been looking on WBAC and the predicted offerings seem pretty low. I would imagine I will be looking at trade in so hopefully it holds its value reasonably well after the year.

WBAC are buying cars to then sell again to Dealers / Car Super Stores so why would they be offering what someone thinks a car is worth?

They have a profit to make then the next seller has as well.

 

None of it is rocket science just buying selling and business and everyone want £1,000-£1,500 as a minimum before tax.

 

The 48% in three years depreciation that What Car/ Autocar, Autoexpress and other talk about with VW Products is about Leasing and handing back and taking another.

Nothing to do with walking in and buying with Cash Money at a VW Group Main Dealership and going back in after 3 years as the Manufacturers Warranty expires and asking how much cash money for my 3 year old one registered keeper car with Full Main Dealer Service History,  ie nothing much done...

The dealers aren't any better I'm trying to sell my 18 plate vrs in april/may this year, with about 19/20k miles on the clock, the highest I've been offered is 14,750 

2 hours ago, BOOSSHH said:

The dealers aren't any better I'm trying to sell my 18 plate vrs in april/may this year, with about 19/20k miles on the clock, the highest I've been offered is 14,750 

 

Sell private then if you want top dollar. The dealer wants to make money. They’re a business. 

The VRS seems to have taken a hit lately. My 2016 pfl 230 estate was £14500 back end of last year. Today it's just under 12k with 41000 miles,  3years old  Anyway that makes a mockery of an almost new one being 15k ! 

4 minutes ago, teescom09 said:

The VRS seems to have taken a hit lately. My 2016 pfl 230 estate was £14500 back end of last year. Today it's just under 12k with 41000 miles,  3years old  Anyway that makes a mockery of an almost new one being 15k ! 

 

Told by a salesman and seems a good rule of thumb. Value drops by approx 2-2.5% per month. Plus a bit more after plate change dates. So seems about right with your VRS.

23 hours ago, SC03OTT said:

 

 

Edited 3 March, 20197 yr by teescom09

On 02/03/2019 at 19:01, BOOSSHH said:

The dealers aren't any better I'm trying to sell my 18 plate vrs in april/may this year, with about 19/20k miles on the clock, the highest I've been offered is 14,750 

Seems way out. Try wbac

 

Brought my motor for 12k sterling nearly 2 yrs ago with 55k miles on her, brought it over to Ireland paid the VRT 2500 euro so cleared her for 18k euro,

my car is valued at........

 

20-21k (skoda garage gave me that est if i was to trade in) Uk cars have a higher spec than buying the VRS here and , DSG's also rarely up for sale and i high demand, gonna hold onto her for a while more  but its a joke how much you can save bringing a car over, holding onto it, making sure you have full service history and sell her on for more than you spent #RipOffIreland

Edited 4 March, 20197 yr by seanbrady49