Used Car Values

Discussion in 'General chat' started by aldo, May 9, 2021.

  1. aldo
    Offline

    aldo Site Supporter

    Joined:
    Dec 11, 2019
    Messages:
    552
    Likes Received:
    166
    Location:
    On the border!
    Ratings:
    +227 / 0 / -1
    These have gone up!

    My X5 has gained 2k in less than a year based on trade in to We Buy Any Car (WBAC).

    I was taking a cautious look at a Discovery 5. JLR weren’t quite there with the part exchange price.

    I explained I know mine S worth a lot more as used values have gone up. He agreed and said try WBAC and you’ll be surprised (which I was) He also said it’s BCA that own them, which I knew anyway and that an X5 7 seater is very desirable currently. He also explained that their values are driven from BCA but always seem to be a grand or two less, they are a business I get it.

    But for now the X5 will remain. The words Crank and failure is enough to put anyone off getting a TDV6 engine. I then started looking at Thule roof boxes which may support the extra need for space.

    So if you’re thinking of a swap about, have a look at what your car is worth, you may be surprised.





    Sent from my iPad using Tapatalk Pro
     
    • Informative Informative x 3
  2. The_Master
    Offline

    The_Master Site Supporter

    Joined:
    Aug 13, 2015
    Messages:
    508
    Likes Received:
    167
    Location:
    Norfolk
    Ratings:
    +293 / 0 / -0
    That's good, but I guess for every winner there'll be a loser....there'll be other cars that have taken a dive (luxury diesel saloons)
    But any gain is value is something to be pleased about, depreciation on modern metal is terrifying and accelerating cheap PCPs have seen to that..
     
    • Like Like x 1
  3. a.s.uk
    Offline

    a.s.uk WARLORD

    Joined:
    Aug 1, 2015
    Messages:
    1,073
    Likes Received:
    331
    Location:
    Sheffield
    Ratings:
    +561 / 1 / -0
    2 x Range Rover sports recovered from our street in 24 hrs:...both within 2 doors of each other
    1, a 20 plate hybrid thing...
    The other a private plate..??? RRS..
    Overall . Not good..
    Reasons unknown...
    but my wife enjoyed taking the mick out of our ‘Calvin Klein’ dressed neighbour with the hybrid... who was left all forlorn.. at the loss of his virtually nearly new car..


    Sent from my iPhone using Tapatalk
     
  4. Wynne71
    Offline

    Wynne71 WARLORD Site Supporter

    Joined:
    Apr 3, 2019
    Messages:
    2,622
    Likes Received:
    968
    Location:
    West Midlands
    Ratings:
    +1,417 / 1 / -3
    Interesting update on car prices. I’ve noticed that the same year/spec model as mine has crept up in price. There was a lull in sales over the winter, but they seem to have moved up again. Cars almost identical to mine are now £1-2K more expensive than when I bought mine in October 2020. We shall see how long that lasts.
    As for a JLR product, you pays yer money, yer takes yer chance…… Blooming loads of them around here, not seem any on transporters as of yet mind.
     
    • Like Like x 1
  5. rigeng
    Offline

    rigeng Site Supporter

    Joined:
    Aug 3, 2015
    Messages:
    468
    Likes Received:
    227
    Location:
    East Yorkshire
    Ratings:
    +355 / 0 / -1
    Last week a low loader carted away a RRS from a house down our street. At least the second time this year, same car (I think). Lady lawyer owner, not at all happy, I learnt a few new words to describe technical faults...!
     
  6. mystic sport
    Offline

    mystic sport

    Joined:
    May 17, 2018
    Messages:
    303
    Likes Received:
    203
    Ratings:
    +285 / 0 / -0
    I normally do terribly on used values for my cars. It has led to terminating two agreements as the PX was so upside down it was in to multiple thousands. But, I have been keeping an eye on used values and it seems that yes, for certain cars the values are there. For once my own car is worth a lot more than I would have thought so maybe for the first time in decades I won't take a bath if I change it :rolleyes:
     
  7. The_Master
    Offline

    The_Master Site Supporter

    Joined:
    Aug 13, 2015
    Messages:
    508
    Likes Received:
    167
    Location:
    Norfolk
    Ratings:
    +293 / 0 / -0
    i'm sure there will be a market correction in the next 12-18 months, New sales are down meaning a reduced supply of used metal to cascade down through the trade, once confidence returns and supply returns values will return to normal. Could be a good time to move on a deal if it's right for you.
     
  8. Wynne71
    Offline

    Wynne71 WARLORD Site Supporter

    Joined:
    Apr 3, 2019
    Messages:
    2,622
    Likes Received:
    968
    Location:
    West Midlands
    Ratings:
    +1,417 / 1 / -3
    Audi ended up giving Mrs W £150 over the WBAC price, and that was a decent one to start with. Her low mileage 2013 A1 was seemingly of marketable value. In the end we got £750 over what I thought it was worth, and a hard bargain on the new A1 resulted in a very good deal all round.
     
  9. Spuffington
    Offline

    Spuffington Staff Member Admin Site Supporter

    Joined:
    Jul 31, 2015
    Messages:
    1,991
    Likes Received:
    1,006
    Location:
    Frankfurt am Main, Germany
    Ratings:
    +1,271 / 1 / -1
    Just done a check on our cars....


    Cayenne - you don't want to know! :whistle:

    X1 according to WBAC has lost <£2k in a year. Very strong used pricing for that but then I guess it's in the sweet spot.........small, low mileage, premium SUV with a petrol engine
     
    • Like Like x 1
  10. Copex
    Offline

    Copex Site Supporter

    Joined:
    Aug 12, 2015
    Messages:
    100
    Likes Received:
    48
    Ratings:
    +54 / 0 / -0
    WBAC Priced my old M140i £24000, 68 plate low mileage. December £21700. Good time to sell on.
     
  11. Mieke
    Offline

    Mieke WARLORD Site Supporter

    Joined:
    Sep 8, 2015
    Messages:
    2,877
    Likes Received:
    1,016
    Location:
    Cheshire
    Ratings:
    +2,141 / 2 / -1
    I've never used them, but have read quite a few accounts of WBAC reducing the guaranteed price by a substantial amount when the vehicle is taken for inspection. Although I can accept that it's a good way to push up the trade in value at a dealership.

    Has anyone on here actually sold a car to WBAC?
     
  12. Spuffington
    Offline

    Spuffington Staff Member Admin Site Supporter

    Joined:
    Jul 31, 2015
    Messages:
    1,991
    Likes Received:
    1,006
    Location:
    Frankfurt am Main, Germany
    Ratings:
    +1,271 / 1 / -1
    I’ve read a good bit about that in the past but I’m reading more and more that suggests that they’re getting better at not marking down for the sake of it. If you present a clean car then you get what you’re offered.
     
    • Like Like x 1
    • Disagree Disagree x 1
  13. aldo
    Offline

    aldo Site Supporter

    Joined:
    Dec 11, 2019
    Messages:
    552
    Likes Received:
    166
    Location:
    On the border!
    Ratings:
    +227 / 0 / -1
    I’ve sold my sister in laws French grand Picasso through them.

    We had purchased probably 8 months prior. It had been in an accident and had been repaired which I told her about. She still wanted it. Then the issues came, alarm going off in the middle of night etc which Citroen couldn’t figure out why (it was still under warranty).

    Long story short we chopped it in. Despite WBAC also identifying the filler in some of the panels, and it clearly being in a previous smash up, they knocked £800 off it for that and with depreciation in total she lost about £1700. It was a cheap car to start with though.

    Couldn’t fault them, money transferred in 3 days.

    For a number of weeks after the sale, I kept following the auctions through the BCA centres thinking it would go through the block, but it never did and to this day not sure who they shifted it on to after that.

    The garage we purchased it from in Oldham… had changed name a few times and had previous reviews about selling on accident damaged vehicles. WBAC almost didn’t buy it off us as part of their criteria is to review the invoice if the last change of keeper was in a certain time period. This garage in Oldham weren’t VAT registered which caused suspicion but they still did the deal in the end.

    Another interesting point is every time you put a quote through them, it records a quote history on their system. So you could see all the historic quotes I had put through and ones my sister in law had done including the date of the quote and the variables chosen like mileage, full or partial history, overall condition etc! They then go off the most accurate quote.


    Sent from my iPad using Tapatalk Pro
     
  14. aldo
    Offline

    aldo Site Supporter

    Joined:
    Dec 11, 2019
    Messages:
    552
    Likes Received:
    166
    Location:
    On the border!
    Ratings:
    +227 / 0 / -1
    It’s gone up again!

    [​IMG]


    Sent from my iPad using Tapatalk Pro
     
    • Like Like x 1
  15. Spuffington
    Offline

    Spuffington Staff Member Admin Site Supporter

    Joined:
    Jul 31, 2015
    Messages:
    1,991
    Likes Received:
    1,006
    Location:
    Frankfurt am Main, Germany
    Ratings:
    +1,271 / 1 / -1
    I’ve had a couple of those.

    The Cayenne was up by £500 and the X1 up
    by £300.
     
  16. The_Master
    Offline

    The_Master Site Supporter

    Joined:
    Aug 13, 2015
    Messages:
    508
    Likes Received:
    167
    Location:
    Norfolk
    Ratings:
    +293 / 0 / -0
    Get 'em sold while this lasts, there's a shortage of stock due to Covid, driving up prices, once the pent-up demand has been satisfied there'll be a price 'correction'
     
    • Like Like x 1
  17. aldo
    Offline

    aldo Site Supporter

    Joined:
    Dec 11, 2019
    Messages:
    552
    Likes Received:
    166
    Location:
    On the border!
    Ratings:
    +227 / 0 / -1
    It’s what to replace it with


    Sent from my iPhone using Tapatalk Pro
     
  18. Wynne71
    Offline

    Wynne71 WARLORD Site Supporter

    Joined:
    Apr 3, 2019
    Messages:
    2,622
    Likes Received:
    968
    Location:
    West Midlands
    Ratings:
    +1,417 / 1 / -3
    Sell now while prices are high, rent/buy a cheap runaround and then pounce as prices drop. Will give you more time to consider the next step as well as an extra impetus along the way.
     
    • Like Like x 2
  19. Peter
    Offline

    Peter WARLORD Site Supporter

    Joined:
    Aug 5, 2015
    Messages:
    2,082
    Likes Received:
    1,160
    Location:
    Highland Region
    Ratings:
    +1,765 / 0 / -1
    It is good to see even the older stuff holding up in value. But what I'm seeing, the nearly new values are up as well. So no benefit if you just want a newer replacement. A couple of thousand extra on the trade in is no good, if the replacement is say £5k more, due to supply and demand forces.

    Personally I think it will be a while before the market will be getting enough 'good' supply, for the prices to settle back down.

    Peter
     
    • Agree Agree x 3
  20. Spuffington
    Offline

    Spuffington Staff Member Admin Site Supporter

    Joined:
    Jul 31, 2015
    Messages:
    1,991
    Likes Received:
    1,006
    Location:
    Frankfurt am Main, Germany
    Ratings:
    +1,271 / 1 / -1
    In my opinion, it’s like your house going up in value. Meaningless unless you’re actually looking to cash in. But in a rising market, your asset is unlikely to be dislocated from the rest of the market so “cashing in” doesn’t bring you anything - only a ticket to enter into an overheated market where you’ll either be paying more for a replacement or renting for an undeterminable period of time waiting for a correction to come.......which may not happen for some time.
     
    • Agree Agree x 3
    • Like Like x 1

Share This Page