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Post by Bob Sacamano v2.0 on Jan 9, 2019 8:54:40 GMT
When I was trying to sell my father-in-law's Nissan Note I was having a moan to a car dealer about WBAC, expecting him to agree, but he pointed out that industry research had shown they were, on average, only 4% lower than dealer trade in prices. I suspect their offers vary depending on stock levels of different vehicles across different price points and locations - if they are short on, say, small hatchbacks in the £5k price range the computer will start to offer better quotes to potential sellers of these types of vehicles. If they have a glut of larger, executive cars that are sticking their offer prices will reduce.
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Post by ChrisM on Jan 9, 2019 8:59:56 GMT
I'm pretty sure that WBAC and their like have computer systems geared up to predict the likely auction price that they will get, and offer sellers a price based on that.
You're largely paying for the "convenience" of an instant sale when you use their services, and as ever it pays to shop around and build up your own knowledge of what you are likely to get (based on current market rates) before agreeing to sell to anyone
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Post by michael on Jan 9, 2019 9:15:30 GMT
£17k which I thought was generous given it was a mess. WBAC offer (only through the website) was high £15k then they sent a new offer at just over £16k. Just to annoy myself, I checked what We Steal Any Car was offering for the BMW and the Fiat and in both cases it was way below even the part-ex price. On the BMW it was something like £11.5k and the Fiat was less than £3k. I think WBAC should be treated with the same scorn as Wonga personally. This is only their web offer. Expect to have that price further ground down if you got to the stage of taking your car to them. |
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Post by racingteatray on Jan 9, 2019 10:30:22 GMT
Yes indeed.
The price of convenience is a high one. Consider that by being prepared to (and financially able to) wait, on the M135i, I got £16k (net) via a commission sale whereas I was offered £13k trade-in by BMW and £11.5k by WBAC. That's £4.5k's worth of difference. And on the Fiat, WBAC's offer was something like 25% below Fiat's and I reckon I could still easily sell it privately today for nearly double what WBAC offered over two years ago.
And it is very much horses for courses. It proved impossible to shift the M135i privately, but I'm fairly certain that in London a £5k one-owner low-miles FSH Fiat 500 in a good spec and colour-combo would sell pretty quickly if we ever decided to. I sold my wife's previous smart fortwo on the very first w/end for the full £4k asking price - we had two private buyers after it at the same time.
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Post by PetrolEd on Jan 9, 2019 11:26:25 GMT
WBAC is just to be used as an easy way of getting rid of your car. The car will in most cases be sent to auction therefore what do we expect? Your going to get bottom book value. I sold my old Gti to WBAC as their offer was less than 1k off what I would have sold it for privately and I needed to get the diamond cut alloys refurbished so in real terms there would have been less than £500 between private sale and WBAC. For £500 I'd happily let them take the hassle away from me.
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Post by PG on Jan 9, 2019 13:28:31 GMT
I regularly use WBAC for a variety of things and their prices move about dramatically at times. Currently they will give me £18,803 for my car which is about what the dealers are offering as a trade in although one did suggest that he would only be able to offer c£17,500. Mercedes were prepared to give me £19,500 against a discounted E53 coupe (list with extras £71,050 discounted to £62,443). However if I put the M5 in they are only offering £60,200 and the dealer is prepared to talk around £70K whereas Parkers has the M5 with a dealer price of £73K and a trade in value of £68K. There seems to be quite a bit of instability at the moment. I have always found Parkers trade in prices to be hugely optimistic. |
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Post by Martin on Jan 9, 2019 13:36:33 GMT
I bet you’d get offered £62-63k trade in for a 12 month old M5.
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Post by johnc on Jan 9, 2019 15:08:23 GMT
I bet you’d get offered £62-63k trade in for a 12 month old M5. My thoughts exactly! |
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