WBAC Ridiculous offer?

[HorribleJon]

Just out of interest i thought i would see what WBAC would offer me for my car.
E220d AMG line Coupe Premium Plus, brought new January and now with 5k miles excellent condition paid £41k.
WBAC offer £24k!!!
Interested on any thoughts?

 

[markjay]

WBAC auction the cars, dealers buy them, fix-em up then put them in the forecourt.

I would mark-up the WBAC price by (say) 6k to cover for the auction house and the dealer margins, fixing-up and warranty, then compare the outcome to dealer asking prices on Autotrader.

In this case, if you find that the asking price for a 5-months-old similar car from a dealer is £30k, then the numbers do add up.

Incidentally, the figures above work out as 25% depreciation in the 1st year, which in general terms is not unreasonable (but it varies from model to model).

 

[Rory]

... paid £41k.

What was the car's list price?

 

[HorribleJon]

from memory £47ish

 

[Dryce]

J
Interested on any thoughts?

As has been stated - depreciation and the market.

The moment you drove that car off the forecourt or took delivery it took a huge drop. This is then made worse because new cars typically come with more attractive monthly prices backed by manufacturer finance schemes than used cars at a given price - and then there is the markup and risk premium for a dealer.

Unfortunately. Hitting a dealer or WBAC with a 5 month old car for cash is just about the most suboptimal deal you can do.

You might do a bit better going back to the original dealer (or another MB dealer) directly - that cuts out WBAc as a middle man.

 

[flowrider]

Just out of interest i thought i would see what WBAC would offer me for my car.
E220d AMG line Coupe Premium Plus, brought new January and now with 5k miles excellent condition paid £41k.
WBAC offer £24k!!!
Interested on any thoughts?

Try Evans Halshaw, I have found their valuations better than WBAC.

 

[Deleted member 37751]

Just out of interest i thought i would see what WBAC would offer me for my car.
E220d AMG line Coupe Premium Plus, brought new January and now with 5k miles excellent condition paid £41k.
WBAC offer £24k!!!
Interested on any thoughts?

You paid too much in the first place.

I regularly get emails from lease companies offering the likes of your car for circa £30k brand new after discount.

 

[clk320x]

You paid too much in the first place.

I regularly get emails from lease companies offering the likes of your car for circa £30k brand new after discount.

+1

I had an offer on a delivery mileage E220d estate for £28,995... I was so so tempted to buy it.

 

[kcsun]

When I recently got a quote from WBAC for my car, I thought it was low but acceptable. I went along to visit "the buyer" who promptly went over the car and found every tiny mark etc and then revised the offer 20% lower than the email quote. I politely declined and he then started ranting at me for wasting HIS time
TO$$ERS
kc

 

[clk320x]

When I recently got a quote from WBAC for my car, I thought it was low but acceptable. I went along to visit "the buyer" who promptly went over the car and found every tiny mark etc and then revised the offer 20% lower than the email quote. I politely declined and he then started ranting at me for wasting HIS time
TO$$ERS
kc

They are famous for doing that

 

[markjay]

But if you ignore BWAC... then you may get a second email in two weeks' time saying that your car have suddenly appreciated and they can now offer you more...

 

[bigcarpchaser]

Popular model Merc/BMW equals massive depreciation in my experience (both our 320d and SLK).
When we got the wife her SLK it was only a few months off being a year old, 6000 miles and was practically half list price, and she managed to wangle 0% finance, we still took a bit on it when we sold it a year later.
If you really must buy from your friendly local dealer then at least go armed with some quotes off drivethedeal or carwow and get them to match them.
They may not first time but come the end of the month or sales quarter then they’ll bite your arm off.
Then haggle with them about the interest rate if you’re buying on finance.
Then when they try and sell you gap insurance haggle about that too if you really need it. I had a land rover dealer ask me how much I wanted to pay once after offering it to me for £400 lol.
£100 was my answer..deal done.
If you don’t ask, you don’t get.
Remember, they’re not out to do you any favours, they’re flogging you a car and all the other stuff they can get away with despite how nice they appear to be (which they might be).
It’s a buyers market, they need to sell cars. You hold the cards.
I’d be looking for at least 10-12% off a Merc and that’s before really trying.
Been offered a new C63 with over 15% off list on the strength of one call, I’m sure I could wangle a bit more but I still can’t afford one lol.



Sent from my iPhone using Tapatalk

 

[markjay]

My best buy so far was a Vauxhall Omega 2.6 CDX, bought from a dealer in 2001 when it was just 5 months' old and with 6,400 miles on the clock.... for £14,000, while the list price at the time was £24,000. Kept it for 7 years.

 

[flowrider]

But if you ignore BWAC... then you may get a second email in two weeks' time saying that your car have suddenly appreciated and they can now offer you more...

Evan's Halshaw did that to me on my S5, they first offered £15K then a couple of weeks later emailed another offer £2k higher.

 

[rf065]

Just out of interest i thought i would see what WBAC would offer me for my car.
E220d AMG line Coupe Premium Plus, brought new January and now with 5k miles excellent condition paid £41k.
WBAC offer £24k!!!
Interested on any thoughts?

Sounds about right if they need to make a profit on it.
For example, my SLC300 was bought at 3 months old from a MB dealer, pre-registered with 107 miles on the clock for £35,000, with almost every option picked the list price was £50,000.
My C Class had every option bar one specified, list price of £50,000, but with only 3000 miles and 6 months old, I paid only £31,000,
Don't forget, your original purchase included an assortment of taxes that you'll never back back as soon as you've signed on the dotted line.

 

[wivenhoe]

The list prices are pure fiction and despite this, taxes are calculated on them. So, you buy a new car, optioned up and you get the DriveTheDeal type price and pay £ 30k. List including options is £ 41k - you pay additional road tax and personal tax (if a company car) so the government are raking it in as a result of fictional list prices that nobody should be paying.
I got £ 12k off my C350e, £ 12k off my E350e and just negotiated £13k off a BMW 530e - a bit of a trend !
Trading in my E350e after only 20 months (unique reason for changing) I am getting £ 28k having paid £ 45k - so 15k miles and a residual loss of £ 17k = 38% and a ridiculous 50% against list.

 

[Scott_F]

WBAC offer £24k!!!

Interested on any thoughts?

Don't sell it to them.

 

[GeeJayW]

Don't sell it to them.

Indeed, one doesn't have to settle for a bad deal.

Just knocking the VAT off the original sale price gets you to £32k, (which is perhaps were it would be priced as an Approved Used).Deduct some more based on half a year's depreciation, plus the 'used' status, two increments on the number plate, fall in diesel popularity, cooking 220d (for clarity I'm not saying a 250d would fair any better) and their need to turn a profit.....

So, on the face of it not the best offer, but can see how they got there.

 

[Deleted member 6183]

Or sell it quick before it’s worth even less.

 

[markjay]

Or sell it quick before it’s worth even less.

I think that at this point the depreciation curve has already started to ease....